Wall Street's three major indexes rebounded on Monday with broad-based gains across sectors as investors appeared to regain confidence after U.S. equities' biggest weekly drop in two years.

The Dow Jones Industrial Average rose 409.47 points, or 1.69 per cent, to 24,600.37, the S&P 500 gained 36.39 points, or 1.39 per cent, to 2,655.94 and the Nasdaq Composite added 107.47 points, or 1.56 per cent, to 6,981.96. 

Canada's main stock index unofficially closed higher on Monday, rebounding from a five-month low as oil and metals prices rose.

The Toronto Stock Exchange's S&P/TSX composite index ended the day up 206.87 points, or 1.4 per cent, at 15,241.88. 

U.S. MARKETS

The stock rally and improving risk appetite reduced the safe-haven appeal of government debt.

U.S. Treasury yields rose across most maturities, with the benchmark 10-year note hitting a four-year high. The prospect of strong U.S. economic growth and global central banks normalizing years of easy monetary policy drove yields higher.

The 10-year Treasury note fell 7/32 in price to yield 2.8566 per cent after earlier hitting 2.902 per cent.

U.S. inflation data for January is due on Wednesday, which should shed more light on whether the recent run-up in yields is warranted.

The dollar index fell 0.34 per cent, with the euro up 0.48 per cent to US$1.2292. 

Oil recouped some of last week's steep losses as global equities steadied.

Brent crude futures fell 20 cents to settle US$62.09 a barrel while U.S. West Texas Intermediate crude futures for March delivery rose 9 cents to settle at US$59.29 a barrel.

U.S. gold futures settled up 0.8 per cent at US$1,326.40.

CANADIAN MARKETS

Monday's gains came after a 3.66 per cent drop in the index last week led to its lowest close in five months.

The world stocks index climbed 1.2 per cent.

Consumer cyclicals led gains with a 2.5 per cent jump.

Copper miner Ivanhoe Mines (IVN.TO) was the biggest gainer on the index, posting a 10.7 per cent jump. The company said last week that Egizio Bianchini, former co-head of BMO Capital Markets' global metals and mining group, would become its executive vice chairman.

First Majestic Silver Corp (FR.TO) was the second-biggest gainer, rising 9.4 per cent.

Copper futures rose 1.6 per cent to $6,862 a tonne at 4:07 p.m. ET, while silver added 0.9 per cent to US$16.50 an ounce.

Aecon Group (ARE.TO) was the worst performer, with a 1.8 per cent drop after its US$1.5 billion takeover by China's CCCC International Holding was delayed because of an extended national security review of the deal by Canada.

Yamana Gold (YRI.TO) and marijuana producer Canopy Growth Corp (WEED.TO) were the most actively traded stocks on the index.

There were 231 advancing stocks and 13 declining ones on the index.