S&P is on course for its best two-quarter winning streak since 2009, and the Nasdaq is set for its largest advance since 2000— Wall Street rallied to close higher on Monday as investors sought bargains among sectors hardest-hit by the coronavirus recession, now limping towards its ninth month.
However, even with Monday's jump, the indices are only days away from closing the books on their first monthly declines since March, when markets were sent into a free fall by pandemic-related lockdowns. But US House of Representatives Speaker Nancy Pelosi said in an interview that stimulus talks with treasury secretary Steven Mnuchin were due to continue on later on Monday, suggesting a possible progress to end the stalemate.
The Dow Jones Industrial Average rose 410.1 points, or 1.51%, to 27,584.06, the S&P 500 gained 53.14 points, or 1.61%, to 3,351.6 and the Nasdaq Composite added 203.96 points, or 1.87%, to 11,117.53.