The US stocks increased on Monday, recouping from the fall off in the last session, as the investors hoped more of fiscal stimulus and post the news of President Donald Trump’s discharge from hospital where he’s undergoing treatment for coronavirus.
Trump, who was hospitalized late Friday, said that he was feeling better now.
The stock price of Regeneron Pharmaceuticals increased 7.1 per cent post Trump’s doctor said that he’d been treated using experimental drug Regeneron for the virus, which has claimed the life of over a million individuals globally and hampered the economy drastically.
On Monday, Mark Meadows, the Chief of Staff, White House said that there is a potential to arrive at an agreement along with the US lawmakers still on more COVID-19 relief.
Shares of Dow Jones Industrial Average increased 1.68 per cent, Nasdaq Compositive .IXIC rose 2.32 per cent and S&P 500 .SPX added 1.80 per cent.
Doubts pertaining to the scope of additional fiscal aid as well as a slow economic gain have put a toll on S&P 500 in the recent days, with benchmark index recording its worst ever month in September since the COVID-19 related crash previously this year.
Furthermore, also aiding the market was the positive economic information on Monday.