NEW YORK, Nov. 2 (Xinhua) -- Wall Street's major averages finished higher on Monday, recouping some of the steep losses they suffered in the prior week, as the markets braced for the U.S. presidential election.

The Dow Jones Industrial Average jumped 423.45 points, or 1.60 percent, to 26,925.05. The S&P 500 increased 40.28 points, or 1.23 percent, to 3,310.24. The Nasdaq Composite Index was up 46.02 points, or 0.42 percent, to 10,957.61.

All the 11 primary S&P 500 sectors moved higher, with energy and materials closing up 3.67 percent and 3.39 percent, respectively, leading the gains.

U.S.-listed Chinese companies traded mostly higher, with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

As the Election Day is around the corner, investors are keeping a watchful eye on what the results could mean for the markets.

Monday's gains followed a difficult week on Wall Street that saw major averages notch their worst one-week performance since March amid coronavirus fears.

For the week ending Friday, the Dow fell 6.5 percent, the S&P 500 declined 5.6 percent and the Nasdaq lost 5.5 percent.

The United States reported more than 99,000 new coronavirus cases on Friday, a dire single-day record, showed data from Johns Hopkins University.

As of Monday afternoon, the country's total COVID-19 cases have surpassed 9.26 million, with the death toll topping 231,300, according to the university.

On the economic front, U.S. Manufacturing PMI (Purchasing Managers' Index) rose to 59.3 percent in October from 55.4 percent in September, the Institute for Supply Management reported on Monday. The reading exceeded market forecasts. Enditem

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