US stock markets settled higher on Monday, halting three straight sessions of declines for major benchmarks, as banks enjoyed their best daily rally in six weeks.

The Dow Jones Industrial Average rose 183.67 points or 0.90 percent to settle at 20,636.92. NASDAQ 100 index advanced 45.61 points or 0.85 percent to close at 5,399.20. The broader S&P 500 index gained 20.06 points or 0.86 percent to end at 2,349.01.