Wall Street rallied sharply on Monday, with the Dow hitting a record high as easing oil prices and strong tech earnings lifted investor sentiment. The Dow gained over 1%, while the Nasdaq surged more than 2% and the S&P 500 rose 1.5%, nearing its record high.

The Dow Jones Industrial Average closed at a record high on Monday, jumping 693.38 points buoyed up by rising tech stocks and falling oil prices.

The major stock averages surged Monday, with the Dow closing at a record high, as Amazon eclipsed $3 trillion in market cap for the first time.