Markets rally Monday

NEW YORK, July 13 (UPI) -- U.S. bank stocks led a general rally Monday as the corporate reporting season began its second week.

Reports due this week include Intel, Johnson & Johnson and New York bank Goldman Sachs, where profits were likely to exceed the $1.66 billion reported in the first quarter, The New York Times reported.

On Monday, Bank of America closed 9.34 percent higher while Citigroup gained 7.34 percent.

By close, the Dow Jones industrial average rose 185.16 points, or 2.27 percent, to 8,331.68. The Standard & Poor's 500 rose 2.49 percent, 21.92 points, to 901.05. The Nasdaq composite index added 37.18 points, 2.12 percent, to 1,793.21.

On the New York Stock Exchange, 2,526 stocks advanced and 489 declined on a volume of 4 billion shares traded.

The benchmark 10-year U.S. Treasury bond fell 16/32 to yield 3.35 percent.

The euro fell to $1.3982, compared to Friday's $1.3996. Against the Japanese yen, the dollar fell to 92.895 yen, compared to Friday's 92.93 yen.

In Tokyo, the Nikkei average lost 236.95 points to 9,050.33, off 2.55 percent.

In London, the FTSE 100 index gained 1.82 percent, 74.96, to 4,202.13.