Madoff pleaded guilty in March to securities fraud and other charges. Prosecutors had been seeking the 150-year jail sentence, while his lawyers had sought 12 years in prison.
About two stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 1.1 billion shares compared with 2.3 billion traded Friday. Volume was heavy because of the annual reconstitution of the Russell 3000 index. That forced investors to buy and sell hundreds of stocks.
Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.53 percent late Friday.
The dollar was mixed against other major currencies. Gold prices fell.
The gains in commodities lifted energy, industrial and materials stocks. Exxon Mobil Corp. rose $1.53, or 2.2 percent, to $70.58, defense contractor General Dynamics Corp. rose $1.54, or 2.8 percent, to $57 and Eastman Chemical Co. rose $1.38, or 3.7 percent, to $38.79.
In other trading, the Russell 2000 index of smaller companies fell 2.61, or 0.5 percent, to 510.61.
Overseas, Britain's FTSE 100 rose 1.3 percent, Germany's DAX index advanced 2.3 percent, and France's CAC-40 rose 2 percent. Japan's Nikkei stock average fell 1.0 percent.
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