US Stocks Gain as Dip Buyers, Hopes of Shutdown End Drive Rally

US stocks rallied Monday as dip buyers piled into recently sold-off stocks such as Palantir Technologies Inc. and investors expressed optimism that the longest government shutdown in history would soon be over.

The S&P 500 Index closed 1.5% at higher in New York, extending Friday’s last-minute rally sparked by renewed negotiations to end the shutdown. The tech-heavy Nasdaq 100 Index rose 2.2% to snap a two-session skid.