Late buying causes gain

Financials led the way Monday, as stocks made a late rally. The Standard & Poor's 500 closed 1.8% higher, up 23.36 points at 1353.97, led by its financial components, which were up more than 3% as a group. Some investor's are guessing we have hit the bottom and see financials as a good buy right now. Despite the shopping spree in financial stocks, a weak earnings report from Dow component McDonald's dropped their shares 5.6%. "I think we're in a bear market," said strategist Douglas Peta, of New York investment-management firm J&W Seligman & Co. "But even in bear market, you can have rallies that are very quick and very sharp." DJIA +176.72 Nasdaq +23.71 S&P 500 +23.35