The S&P 500 and the Dow Jones industrial average went higher by 2.2 percent and 4.3 percent respectively. The two indices recorded their seventh straight monthly gain even though October was considered the most turbulent months for stocks.
The NASDAQ gained 3.6 percent and was set to post its fourth straight monthly gain.
In the forex market, the dollar index went higher by 0.1 percent and was traded at 94.598 – still lower than Friday's record high of 95.150.
Against the yen, the greenback added 0.1 percent to its value closing at 113.75.
The euro regained some strength closing at $1.1643. On Friday, it slumped to a three-month low of $1.1574 negatively affected by the ECB’s decision to keep on buying bonds until September 2018.
The Sterling kept stable against its American counterpart as it was being traded at $1.3284.
Bitcoin has reached another all-time high, surpassing $6,400. Since the beginning of the year, the cryptocurrency climbed by more than 500 percent.
Cryptocurrency traders were in high spirits in the previous trading session after bitcoin gained approval in the futures markets. The excitement occurred after CME said it would launch bitcoin futures before the end of the year.
Yet this caused some concern that money would start falling in, making room for speculation that may lead to a crisis. To ease concerns, a CME official said the ability to bring bitcoin out to a more open market would increase stability.