Stocks across Latin America's major markets zoomed higher Monday, bolstered by a jump in commodity stocks and a multibillion-dollar funding commitment from the U.S. for one of the country's biggest financial-services firms.
Stocks also held their ground after U.S. President-elect Barack Obama introduced his economic team, including New York Federal Reserve chief Timothy Geithner as Treasury secretary.
Obama has stepped up efforts to contain the financial and economic crisis, reducing fears of a 2-month-long vacuum, analysts at BMO Capital Markets said.
Brazil's Bovespa jumped 9.4% to 34,188.83, its largest percentage gain since Nov. 13.
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