Investing.com – Major Wall Street Indices Bounced On Monday After Recovering From Sharp Dips In The Previous Session As Hints That President Donald Trump May Return To The White House And Hopes For New Fiscal Stimulus Bill Boost Investor Spirits, Reuters Writes …
The Dow Jones Industrial Average is up 1.26% as of 7:30 pm ET, (NYSE: SPY) is up 1.44% and the NASDAQ Composite is up 1.86%.
Ten of the 11 major S&P indices rose, with the energy sector, the worst so far this year, up 1.7%. Real estate, considered a defensive asset, was the only sector in the S&P in the red.
Regeneron Pharmaceuticals shares jumped more than 7% after Trump's doctor said he was being treated with a drug the company created based on antibodies to COVID-19. The broader health care index (SPXHC) added 1.7%.
MyoKardia shares soared 58.0% after Bristol-Myers Squibb said it would buy the company for approximately $ 13 billion. Bristol-Myers shares rose 0.7%.
Major tech stocks rallied after strong pressure on the Nasdaq on Friday. Thus, Apple (NASDAQ: AAPL) added 2.33%, Amazon (NASDAQ: AMZN) – 1.65%, Microsoft (NASDAQ: MSFT) – 1.42%, Netflix (NASDAQ: NFLX) – 2.72% and NVIDIA jumped 4.14%.
The S&P index recorded 22 new 52-week highs and no new lows, while the Nasdaq recorded 88 new highs and seven new lows.
When writing materials used Reuters