The major averages on the Wall Street all moved sharply higher over the course of the session on Monday. The Dow surged 484.18 points or 1.2 percent to 40,829.59, the Nasdaq jumped 193.77 points or 1.2 percent to 16,884.60 and the S&P 500 shot up 62.63 points or 1.2 percent to 5,471.05. Optimism the Federal Reserve will lower interest rates later this month has contributed to the strength on Wall Street despite lingering concerns about the outlook for the U.S. economy.
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