NEW YORK - Wall Street rallied to close sharply higher on Monday as investors sought bargains among sectors hardest-hit by the coronavirus recession, now limping toward its ninth month.
"Today's market is being led by energy and financials, but it's a very well-balanced market," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York."Every sector is participating in this rally." The lack of a Covid-19 vaccine and an additional fiscal stimulus package from Washington have weighed on the markets in recent sessions.
The Dow Jones Industrial Average rose 410.1 points, or 1.51 per cent, to 27,584.06, the S&P 500 gained 53.14 points, or 1.61 per cent, to 3,351.6 and the Nasdaq Composite added 203.96 points, or 1.87 per cent, to 11,117.53. Boeing extended Friday's gains, rising 6.4 per cent after Federal Aviation Administration Chief Steve Dickson said the agency would conduct a 737 MAX evaluation flight this week.
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