Wall Street closes with sharp gains as final quarter begins - Reuters

Oct 3 (Reuters) - Wall Street's three major indexes rallied to close over 2% on Monday as U.S.

Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year's final quarter.

All 11 major S&P 500 (.SPX) sectors advanced to positive territory, with energy (.SPNY) being the biggest gainer.

In a very counterintuitive fashion that likely represents good news for equity markets," said Hogan.

"(While) good economic data, strong readings had been a catalyst for selling, this is the first time we've actually seen some negative news be a catalyst.".

All three major indexes ended a volatile third quarter lower on Friday on growing fears that the Federal Reserve's aggressive monetary policy will tip the economy into recession.

stocks rose sharply on the first day of trading of the fourth quarter as volatile swings continued to dominate markets, while the prospect of reduced supply pushed oil up nearly $4 a barrel.

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