CNBC's Margaret Brennan- The US market picked up another triple-digit gain on Monday with the Dow gaining 187 points on the day closing at it’s highest level of this month, the Nasdaq up 68 points.

JP Morgan moves closer to taking over Bear Stearns upping it’s bid to USD 10 a share that’s up from the original USD 2 per share deal to acquire at the struggling bank, JP Morgan shares gaining more than 1% on that news. The new offer was made to call a Shareholder Rebellion over what some say was too low an offer. Bear Stearns shares skyrocketed 88% on that news.   
 
Wall Street action:

• Mkt rallies, triple digit gain for Dow
• Dow up 187 pts and Nasdaq gains 68 pts
• JPMorgan moves closer to taking over Bear Stearns, ups stake to $10/sh
• JPM shares gain more than 1%, Bear Stearns surges more than 80%