Wall Street rallies on stimulus cheer, Apple gains; Dow rises 280 points

US stocks surged on Monday on growing hopes that major economies would act to stymie the slowing economic effects of escalating global trade tensions, while technology stocks rose led by a nearly 3% gain in Apple's shares.

China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies, close on the heels of news of a potential German economic easing.

The rally was also helped by easing demand for safe-haven government bonds, with investors looking for bargains in beaten-down stocks after three weeks of declines. Rising bond yields gave a boost to