U.S. stocks finished the first trading session of the week on a positive note Monday, with a return of optimism among investors.
The Dow Jones Industrial Average rose 594.79 points, or 1.23 percent, to 48,977.18. The S and P 500 added 43.58 points, or 0.64 percent, to 6,902.05, and the Nasdaq Composite Index increased 160.19 points, or 0.69 percent, to 23,395.82.
Among individual stocks, Chevron rose 5.1 percent, while Exxon Mobil added 2.21 percent. Oilfield services firms saw even sharper increases, with Halliburton and SLB rising 7.84 percent and nearly 9 percent, respectively.
In the technology sector, investors turned their attention to the upcoming CES marquee show in Las Vegas, despite minor fluctuations in major chipmaker shares on Monday. Advanced Micro Devices shares lost early gains and slipped 1.07 percent before the show.
The 10-year U.S. Treasury yield, which influences interest rates on a variety of commercial and consumer loans, fell below 4.16 percent from Friday's close around 4.19 percent.
Wall Street is now bracing for a significant influx of economic data following the holiday lull, with the December non-farm payrolls report scheduled for release on Friday.
U.S. stocks close higher as buying returns
The Global Mayors Dialogue opened in Harbin, capital of northeast China's Heilongjiang Province on Tuesday, bringing together mayors and senior city officials from across Europe, Asia, and North America to have in-depth exchanges on practical approaches to developing the ice and snow economy.
Held under the theme "Connecting the World with Ice and Snow, Win-Win Cooperation for a Shared Future", the three-day event gathered mayors, deputy mayors, and mayoral representatives from cities across the globe, including Canada, Finland, Germany, Greece, the Republic of Korea, Thailand, and Türkiye, focusing on the ice and snow economy, cultural integration, smart city development, heritage preservation, and urban governance.
The event featured a main dialogue and a scenario-based dialogue salon to foster in-depth exchanges and spark new ideas. Guests are invited to visit iconic sites such as the Harbin Ice and Snow World and attend the opening ceremony and trade events of the Harbin Ice and Snow Economy Expo, which are showcasing Harbin's achievements in building an ice and snow economy brand, strengthening international exchanges and cooperation, and inheriting ice and snow culture.
Harbin, called China's "ice city", has turned its long, cold winters into a major tourist attraction. Last winter, it welcomed a record 90.36 million visitors, generating 137.22 billion yuan (about 19.44 billion U.S. dollars) in revenue, a year-on-year increase of 16.6 percent.
International mayors gather in Harbin to explore ice and snow economy
