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The US stock markets started the New Year with gains on Monday. All the major Wall Street indices including S&P 500 and Dow Jones surged. Apple rose and closed just below a market capitalisation of $3 trillion, after briefly trading slightly above that level. Technology companies and banks were among the biggest gainers.

Wall Street closing on Monday:

The S&P 500 rose 30.38 points, or 0.6%, to 4,796.56.

The Dow Jones Industrial Average rose 246.76 points, or 0.7%, to 36,585.06.

The Nasdaq rose 187.83 points, or 1.2%, to 15,832.80.

The Russell 2000 index of smaller companies rose 27.24 points, or 1.2%, to 2,272.56.

With agency inputs