Stock closed near session highs, snapping a three-session losing streak, after the markets saw a choppy start following the deadly terror attacks in Paris on Friday.

The S&P 500 increased by 1.41%, the Dow Jones Industrial Average gained almost 1.14% and Nasdaq rose 1.09% breaking the sixth straight down day for the index. 

Matt Weller, senior market analyst at Forex.com, said investors were buoyed by the belief that central banks "are likely to ride into the rescue" if fear pervades markets following the attacks.

"If, God forbid, if we have follow-up attacks or fear among consumers, the implication is that central banks can still ride to their rescue," Weller said.

Weller also noted that weakness in the Japanese yen driven by a disappointing gross domestic product report released by Japan overnight may have helped the rally. 

"So that weakness in the yen is spilling over into strengthened stocks because the U.S. dollar versus the Japanese yen does tend to be correlated with major stock markets," he said. 

Travel-related stocks declined Monday in the wake of the Paris terrorist attacks. Delta Air Lines (DAL - Get Report) fell by 2.12%, American Airlines (AAL)  declined over 1.6%, while Carnival (CCL - Get Report) declined almost 1.5%. Priceline (PCLN) fell close to 2.3%.

The Empire State Manufacturing Survey for November came in at minus 10.74, which was below expectations. The report indicated there were signs of weakness in New York's manufacturing sector.

West Texas Intermediate crude oil jumped Monday afternoon by 3.29% to $42.10 a barrel after falling in mid-morning trading.

Clovis Oncology (CLVS - Get Report) shares fell close to 69% following news the company's lung cancer drug had lower response rates than previously disclosed to the Food and Drug Administration, which could delay their approval and strengthen AstraZeneca's competing drug.

Nexstar Broadcasting (NXST - Get Report) rose nearly 1.2% after Media General (MEG) rejected a $1.85 billion buyout. Media General's stock fell almost 0.78% following the news.

In a written statement, Nexstar Chairman and CEO Perry Sook said the company is "eager to move forward" and it will negotiate with Media General.

Marriott International (MAR - Get Report) said Monday it reached an agreement to buy Starwood Hotels & Resorts (HOT) for $12.2 billion in cash and stock. The deal would create the world's largest hotel company. Marriott shares were up 1.55% while Starwood Hotels declined by almost 4%.

According to a Securities and Exchange Commission filing, David Tepper, head of hedge fund Appaloosa Management, sold all of his 1.36 million shares in Alibaba (BABA - Get Report) in the third quarter. He also trimmed his holdings in Bank of America (BAC - Get Report) , Apple (AAPL - Get Report) , Google (GOOGL - Get Report) and Mylan (MYL - Get Report) .

Mylan's (MYL - Get Report) shares rose more than 2% following an announcement that the company will buy back $1 billion in stock after Perrigo's shareholders rejected a $26 billion takeover on Friday, according to The Wall Street Journal.

Berkshire Hathaway (BRK.A - Get Report) increased slightly following the release of its quarterly 13F filling that showed the holding company trimmed holdings in Walmart (WMT - Get Report) by 7% and Goldman Sachs (GS - Get Report) by 13%, while increasing shares in AT&T (T - Get Report) and General Motors (GM - Get Report) .

Chinese online retailer JD.com (JD - Get Report) rose over 7.55% after it reported a third-quarter adjusted loss of 6 cents per American depositary share on revenue of $6.95 billion.

Dillard's (DDS - Get Report) declined by nearly 7% after reporting disappointing quarterly sales. The retail company reported $1.19 a share on profit of $45.7 million and revenue of $1.43 billion. This was a decrease from the same quarter in the prior year's earnings of $1.30 a share and profits of $55.2 million.

Urban Outfitters (URBN - Get Report) shares slumped almost 7.3% as investors awaited earnings after Monday's closing bell.

The week will see a number of earnings report from retailers such as Walmart, Target (TGT - Get Report) , Home Depot (HD - Get Report) and Best Buy (BBY - Get Report) .