Wall Street's major indexes climbed on Monday as data showing unexpected growth in the U.S. services sector last month and optimism over China's economic revival helped investors look past a surge in new cases of COVID-19 at home.
- Wall Street’s major indexes climbed on Monday as data showing unexpected growth in the U.S. services sector last month and optimism over China’s economic revival helped investors look past a surge in new cases of COVID-19 at home.
During Asian hours, Chinese stocks jumped more than 5% on ample liquidity, cheap funding and expectations of a faster and a better bounce-back in business activity than other major countries that are still battling the coronavirus crisis. The S&P 500 rose for the fifth day, undeterred by a record surge in new COVID-19 cases in 16 states in the United States this month that could further hamper reopening plans and poses a big risk to the economic recovery.
At 12:38 p.m. ET, the Dow Jones Industrial Average was up 329.03 points, or 1.27%, at 26,156.39, the S&P 500 was up 41.52 points, or 1.33%, at 3,171.53. The Nasdaq Composite was up 211.59 points, or 2.07%, at 10,419.21.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street rises again, joins worldwide upturn for marketsStocks are pushing higher in early trading on Wall Street, joining a worldwide upturn headlined by the best day for Chinese stocks in nearly five years.
Read more »
What to watch today: Wall Street looks to build on last week's momentumU.S. stock futures soared Monday as investors hoped to continue last week's strong gains.
Read more »
Top Wall Street analysts are betting on stocks like Tesla and Uber for the third quarterWe used TipRanks analyst ranking service to pinpoint Wall Street's best-performing analysts.
Read more »
Inside A Wall Street Tycoon’s Plan To Get Americans Off The Highway — And On His TrainsAs the world grapples with how to make travel safe in the age of coronavirus, private equity billionaire Wes Edens is betting $9 billion that America’s transportation future is a passenger rail
Read more »
Trump's `strong wall' to block COVID-19 from China had holesPresident Donald Trump has repeatedly credited his February ban on travelers from mainland China as his signature move against the advance of the coronavirus pandemic -- a “strong wall” that...
Read more »