NEW YORK, Nov. 7 (Xinhua) -- Wall Street's major indexes rallied on Monday as investors looked to the U.S. midterm elections and a key U.S. inflation report.
The Dow Jones Industrial Average rose 423.78 points, or 1.31 percent, to 32,827.00. The S&P 500 added 36.25 points, or 0.96 percent, to 3,806.80. The Nasdaq Composite Index increased 89.27 points, or 0.85 percent, to 10,564.52.
Eight of the 11 primary S&P 500 sectors ended in green, with communication services and energy up 1.83 percent and 1.73 percent, respectively, outpacing the rest. Utilities dipped 1.94 percent, the worst-performing group.
The above market moves came as investors braced for a busy week featuring the U.S. midterm elections on Tuesday and the October U.S. consumer inflation report on Thursday.
Last week, the Federal Reserve raised benchmark interest rates by 75 basis points for the fourth consecutive meeting, and warned it still had "some ways to go" in its efforts to tame inflation.
For the week ending Friday, the Dow slipped 1.4 percent, the S&P 500 fell 3.35 percent and the tech-heavy Nasdaq dropped 5.65 percent, driven by the Fed's hawkish rhetoric. ■
