Stocks closed broadly higher Monday as hopes for economic aid from Washington helped Wall Street recover its losses from its initial, fearful reaction after learning that President Donald Trump tested positive for the coronavirus.
The S&P 500 climbed 1.8%, and the gains were widespread. Energy and technology stocks had some of the biggest gains. Treasury yields, stocks overseas and oil all rose after Trump and House Speaker Nancy Pelosi both noted the importance over the weekend of additional support for the economy. Trump also tweeted that he’ll leave the hospital later Monday, though his condition remains clouded in uncertainty.
The S&P 500 jumped 60.16 points, or 1.8%, to 3,408.60.
The Dow Jones Industrial Average rose 465.83 points, or 1.7%, to 28,148.64,.
The Nasdaq composite climbed 257.47, or 2.3%, to 11,332.49.
The Russell 2000 index of small company stocks jumped 42.67, or 2.8%, to 1,581.96.
For the year:
The S&P 500 is up 177.82 points, or 5.5%.
The Dow is down 389.80 points, or 1.4%.
The Nasdaq is up 2,359.88 points, or 26.3%.
The Russell 2000 is down 86.50 points, or 5.2%.