Wall Street saw its best session since the beginning of May on a welcome dose of M&A activity with Eaton Corp. ( ETN) agreeing to buy Cooper Industries ( CBE) for $11.8 billion in cash and stock. Shares of Cooper Industries soared 25%. News that the Chinese government plans to undertake measures to boost the world's second largest economy also helped market sentiment. A glaring negative was the heavy selling pressure on Facebook ( FB), which made a shaky public debut on Friday. Shares of the social networking giant dived on Monday though, breaking well below their offering price of $38 each and losing roughly 11% to close at $34.03.. The Dow Jones Industrial Average rose 135 points, 1.1%, to close on a high note at 12,504. The blue-chip index had lost ground in six straight sessions, and 12 of the past 13 trading days. The S&P 500 jumped 21 points, or 1.6%, to close at 1316, moving off a fourth-month low. The Nasdaq surged 68 points, or nearly 2.5%, to close at 2847. Apple ( AAPL) surged nearly 6%.
NEW YORK ( TheStreet) - The major U.S. stock indices all gained more than 1% Monday, rebounding from their worst weekly performance of 2012, as international leaders took steps to calm fears about the future of the euro.