US Stocks See Sharp Gains After Last Week's Sell-off

US stocks ended sharply higher on Monday, led by gains in technology shares after last week's steep market sell-off, while mining shares rose as the retail trading frenzy shifted to silver.

Investors also watched talks over the latest US Covid-19 relief package.

The iShares Silver Trust ETF, the largest silver-backed ETF, jumped as silver broke above U$30 an ounce for the first time since 2013, with retail traders jumping into the metal after betting billions of dollars on stocks last week.

Miners Hecla Mining, Coeur Mining and Wheaton Precious Metals surged.

"The retail trader focus today seems to be on silver, and it's considered to be a small pocket of the market," said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.

But even though the recent trading frenzy may have changed course, it has likely not gone away, she said. "The fact of the matter is this is a powerful move in the markets, and it's not just going to dissipate."

The S&P 500 technology sector gave the S&P 500 its biggest boost in the broad rally. Microsoft and Apple were among the biggest positive influences.

The Dow Jones Industrial Average rose 0.76 percent to 30,211, the S&P 500 gained 1.61 percent, to 3,774 and the Nasdaq Composite added 2.55 percent, to 13,403. (Reuters)