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Nov. 9, 2009 / 4:32 PM

U.S. markets make strong headway Monday

The "Wall Street" sign is seen with the flags that decorated the facade of the New York Stock Exchange as stocks rebound a bit from their early morning plunge after the news that the Federal Reserve has cut interest rates by .75 percentage point as recession fears grow in New York City. (UPI Photo/Monika Graff)...

The "Wall Street" sign is seen with the flags that decorated the facade of the New York Stock Exchange as stocks rebound a bit from their early morning plunge after the news that the Federal Reserve has cut interest rates by .75 percentage point as recession fears grow in New York City. (UPI Photo/Monika Graff)... | License Photo

NEW YORK, Nov. 9 (UPI) -- U.S. markets rose sharply Monday with Ford Motor Co. and General Electric getting a jump start on the week with quick gains.

Ford shares rose 4.52 percent while GE shares rose 3.39 percent following a Friday in which the Dow Jones industrial average ended the week above 10,000 points.

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SprintNextel shares soared, gaining 17.54 percent while the Dow Jones industrial average put up numbers remarkably similar to Thursday, when it gained 203.82 points.

By close Monday, the Dow added 203.52 points, 2.03 percent, to 10,226.94, a high for the year. The Standard & Poor's 500 rose 23.78 or 2.22 percent to 1,093.08. The Nasdaq composite index gained 41.62 or 1.97 percent to 2,154.06.

On the New York Stock Exchange, 2,541 stocks advanced and 496 declined on a volume of 4.4 billion shares traded.

The benchmark 10-year U.S. Treasury note rose 6/32 to yield 3.48 percent.

The euro rose to $1.4996 from Friday's $1.4847. Against the yen, the dollar rose to 90.014 yen from Friday's 89.94 yen.

In Japan, the Nikkei 225 index rose 0.2 percent, 41.015, to 9,808.99.

In Britain, the FTSE 100 rose 1.8 percent, 92.46, to 5,235.18.

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