U.S. stocks soar after FBI nixes Clinton e-mail charge

U.S. stocks rebounded strongly Monday, with both the S&P 500 and the Nasdaq Composite Index snapping a nine-day losing streak, after the FBI again cleared Democratic presidential nominee Hillary Clinton over her use of a private server.

The Dow Jones Industrial Average surged 371.32 points, or 2.08 percent, to 18,259.60. The S&P 500 climbed 46.34 points, or 2.22 percent, to 2,131.52. The Nasdaq Composite Index spiked 119.80 points, or 2.37 percent, to 5,166.17.

FBI Director James Comey on Sunday informed U.S. House members that the FBI has not changed its July advice not to charge Clinton over her use of personal email server during her stay in the State Department.

In a letter to several members of Congress, Comey said the agency had finished its review and found nothing to change its position.

"Based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton," said the statement.

Financial markets in general view a Clinton win as the better outcome in Tuesday's election, as it presents fewer unknowns and possibly more stability for markets than victory for her Republican rival Donald Trump.

There is no major economic report due Monday.

Overseas, European stocks also posted solid gains Monday amid the U.S. election news. German benchmark DAX index at Frankfurt Stock Exchange leapt 1.93 percent, while British benchmark FTSE 100 Index added 1.70 percent.

In Asia, Chinese benchmark Shanghai Composite Index inched up 0.26 percent to 3,133.33 points as market sentiment returned to caution after recent volatility. Enditem