U.S. stocks climbed as hope remains on Wall Street that the global economy can still avoid a worst-case scenario because of the U.S.-Iran war.

The S&P 500 rallied 1% Monday and is back to within 1.3% of its record. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite rose 1.2%.

Even in the oil market, where prices jumped above $100 per barrel after ceasefire talks failed to end the war, prices pared their leaps as Monday progressed. The moves for financial markets overall were much more modest than the extreme swings that have hit since the war began in late February.

On Monday:

The S&P 500 rose 69.35 points, or 1%, to 6,886.24.

The Dow Jones Industrial Average rose 301.68 points, or 0.6%, to 48,218.25.

The Nasdaq composite rose 280.84 points, or 1.2%, to 23,183.74.

The Russell 2000 index of smaller companies rose 39.90 points, or 1.5% to 2,670.49.

For the year:

The S&P 500 is up 40.74 points, or 0.6%.

The Dow is up 154.96 points, or 0.3%.

The Nasdaq is down 58.25 points, or 0.3%.

The Russell 2000 is up 188.59 points, or 7.6%.