US shares rise after last week\\\'s rout

US stocks rose on Monday, recovering some ground lost last week when the S&P 500 notched its biggest weekly decline since mid-2012. At the closing bell, the Dow Jones Industrial Average was up 78.06 points (0.47 per cent) at 16,571.43. The S&P 500 rose 14.03 (0.73 per cent) to 1,939.18, while the Nasdaq Composite Index advanced 31.25 (0.72 per cent) to 4,383.89. All three major indices dropped more than two percent last week. Traders on Monday engaged in "bargain hunting" after last week's sharp losses, said Peter Cardillo, chief market economist at Rockwell Global Capital. Cardillo expects light trading volumes this week given that many Wall Street investors are on holiday and that there will be fewer major economic or corporate earnings reports compared with last week, according to AFP.