Stocks got the New Year off to a roaring start with more solid gains and record highs for major U.S. indexes, following up on a strong finish to 2019.

Investors were encouraged by news that China's central bank will free up more money for lending. Technology companies including Apple accounted for a good part of the upward move.

The S&P 500 rose 27 points, or 0.8%, to 3,257. The Dow Jones Industrial Average rose 330 points, or 1.2%, to 28,868. The Nasdaq composite added 119 points, or 1.3%, to 9,092. Bond prices rose. The yield on the 10-year Treasury fell to 1.87%.