NEW YORK - US STOCKS posted a broad rally on Monday after a key analyst upgrade of Goldman Sachs a day ahead of its quarterly earnings report ignited the financial sector.

The Dow Jones Industrial Average surged 183.64 points (2.25 per cent) to 8,330.16 at the market close.

The tech-heavy Nasdaq added 37.18 points (2.12 per cent) to 1,793.21 and the Standard & Poor's 500 index, a barometer of the broader market, advanced 21.65 points (2.46 per cent) to a preliminary close of 900.78.

The strong rebound after four consecutive weeks of losses was 'led by a strong rally in the financial sector that appears to have stemmed mostly from an analyst upgrade of Goldman Sachs,' Charles Schwab & Co analysts said in a client note.

Briefing.com analysts said financials were bucking market jitters ahead of a week crammed with economic and corporate earnings reports following 'encouraging comments' from a key analyst about the short-term potential for banks. -- AFP