Wall Street marks over one-percent gains at the close

U.S. stock indices closed sharply higher on Monday as risk appetite rallied in the markets after the Wall Street Journal reported that corporate tax cuts intended by U.S. president Trump could bring them down to 15% from the current 35%, which is more important for the president according the journal than cutting the deficit, while centrist Emanuel Macron won the first round of the French presidential vote, with all polls pointing to an easy victory for him in the final round over Marine Le Pen on May 7.

The trading came amid lack of U.S. data today, while Federal Reserve Bank of Minneapolis President Neel Kashkari spoke at the University of California, in Los Angeles; as the earnings season for major American corporations and banks starts in earnest. 

Dow Jones closed up 1.05%, or 216.13 points to 20,763.89, while Standard and Poor's 500 rose 1.08%, or 25.46 points to 2,374.15. Dow Jones added 1.24%, or 73.30 points to 5,983.82. 

Gold futures due on June 15 fell 0.93% to $1,277.10 an ounce from the opening of $1,289.10, while the dollar index tumbled 0.94% to 99.03 from the opening of 99.97. 

On another note, U.S. crude futures due on May 16 fell 0.85% to $49.20 a barrel from the opening of $49.62, while Brent crude futures due on June 15 slumped 0.79% to $51.55 a barrel from the opening of $51.96.