(CNBC) — U.S. equities kicked off the week on a high note, trading sharply higher on Monday after the FBI again cleared Democratic nominee Hillary Clinton over her use of a private server.
"The likelihood of [a split government] is now higher, but you also had the market down for nine days in a row, so you're also getting a rubber-band effect," said Liz Ann Sonders, chief investment strategist at Charles Schwab.
Financial markets in the U.S. and around the world had been largely pricing in a victory for Clinton over Republican nominee, Donald Trump. Market expectations for Congress, meanwhile, had been for the House to remain under GOP control while the Senate flips in favor of the Democrats.
Advertisement - story continues below