The US markets surged on Monday amid optimism surrounding a potential second round of talks between the United States and Iran aimed at easing tensions in the Middle East. President Donald Trump stated that Iran had reached out to resume discussions, adding that they would like to make a deal very badly. Sentiment remained upbeat as a report from the Labor Department showed that producer prices in the U.S. increased by much less than expected in the month of March. The Labor Department said its producer price index for final demand climbed by 0.5 percent in March, matching a downwardly revised increase in February. Street had expected producer prices to jump by 1.2 percent compared to the 0.7 percent advance originally reported for the previous month. On the sectoral front, airline stocks led the rally, with the NYSE Arca Airline Index surging 5.1%. Brokerage stocks also posted notable gains, as indicated by a 2.4% rise in the NYSE Arca Broker/Dealer Index.

Nasdaq surged 455.35 points or 1.96 percent to 23,639.08, S&P 500 increased 81.14 points or 1.18 percent to 6,967.38 and Dow Jones Industrial Average jumped 317.74 points or 0.66 percent to 48,535.99.