U.S. stocks rally as Brexit fears abate

U.S. stocks rebound Monday, as jitters about a possible Brexit eased after the latest polls showed the Remain camp making gains ahead of Britain's EU referendum later this week.

The Dow Jones Industrial Average added 129.71 points, or 0.73 percent, to 17,804.87. The S&P 500 gained 12.03 points, or 1.11 percent, to 2,083.25. The Nasdaq Composite Index moved up 36.88 points, or 0.77 percent, to 4,837.21.

New polls released over the weekend showed those wanting to stay in the European Union holding a slim majority over the Leave campaign, according to media reports on Monday.

The polls indicated a swing back to "Remain" after the killing of British politician Jo Cox.

A referendum will be held on Thursday, June 23, to decide whether Britain should leave or remain in the European Union.

European equities soared Monday following the news. German benchmark DAX index at Frankfurt Stock Exchange surged 3.43 percent, while British benchmark FTSE 100 Index spiked 3.04 percent.

In Asia, Tokyo stocks also ended sharply higher Monday, inspired by a softer Japanese yen as well as the abating Brexit fears. The 225-issue Nikkei Stock Average gained 2.34 percent to 15,965.30.

With no major economic data due Monday, oil prices were also in focus, which settled nearly 3 percent higher as new polls showed a lower likelihood of Brexit. Enditem