NEW YORK ( TheStreet) -- U.S. stocks finished Monday on a positive note after Federal Reserve Chairman Ben Bernanke's remarks on the long-term unemployment situation pointed to the possible need for more stimulus funding.

The Dow Jones Industrial Average rose 160.9 points, or 1.23%, to 13,241.63. The S&P 500 increased 19.4 points to 1,416.51 and the Nasdaq Composite gained 54.65 points to 3,122.57.

Breadth within the Dow was overwhelmingly positive with 29 of the index's 30 components posting gains.

The biggest percentage gainers in the index Monday were JPMorgan Chase ( JPM), American Express ( AXP) and United Technologies ( UTX).

Shares of JPMorgan rose 2.24% to $46.17. The bank is on track to top the merger advisory, equity and debt underwriting rankings.

TheStreet Ratings gives JPMorgan a B+ grade with a buy rating and a $51.57 price target.

American Express shares increased 2.46% to $58.66. The credit card company raised its quarterly dividend by 11%, or 2 cents, to 20 cents a share.

American Express gets an A+ grade from TheStreet Ratings with a buy rating and $67.82 price target.

Shares of United Technologies rose 2.08% to $83.50. TheStreet Ratings gives the stock an A- grade with a buy rating and $94.79 price target.

The only Dow stock that declined on Monday was Verizon ( VZ). Its shares fell 9 cents, or 0.23%, to $39.33.

TheStreet Ratings gives Verizon a B- grade with a buy rating and $47 price target.

Dow components Coca-Cola ( KO), Pfizer ( PFE) and Walt Disney ( DIS) all hit 52-week highs on Monday.

-- Written by Alexandra Zendrian in New York.

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