Wall Street sees best day in 2 months

NEW YORK, Nov. 19 (Xinhua) -- The U.S. stocks surged on Monday, with major indexes gaining the most in over two months, amid hopes that the United States might avoid the dire consequences of the " fiscal cliff."

When the market closed, the Dow Jones Industrial Average jumped 207.65 points, or 1.65 percent, to close at 12,795.96.

All 30 Dow components ended higher, with Bank of America and Hewlett-Packard leading the gainers -- up 4.06 percent and 3.5 percent, respectively.

The Standard & Poor's 500 rallied 27.01 points, or 1.99 percent, to 1,386.89. The Nasdaq Composite Index soared 62.94 points, or 2. 21 percent, to 2,916.07.

With Monday's surge, both the broader S&P 500 and the tech- heavy Nasdaq have wiped out all of last week's losses.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, hit a five-week low, reflecting an overall optimistic view among the investors.

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