The Dow jumped 500 points as banks and tech stocks rally by skleb1234
Shares of companies that would benefit from a reopening of the economy—including airlines and cruise operators—also moved higher on Monday.“Stocks are experiencing strong gains in most major markets, although there isn’t a single reason why,” says Adam Crisafulli, founder of Vital Knowledge, in a note. “The vaccine backdrop is the same as before, and investors could find out in less than a month that one or more of the P3 candidates is safe/effective,” he adds.
The major averages are still on track to post steep losses for September, a historically bad month for stocks. While recent economic data has signaled the start of a recovery from the coronavirus recession, prospects for a quick rebound are dwindling amid uncertainty over fiscal stimulus, a resurgence of coronavirus cases and potentially delayed election results.Investors continue to remain anxious about a resurgence of coronavirus cases in Europe and the United States.
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