Wall Street’s rally rolls on, aided by health care stocks
Stocks jumped on Monday, led by big gains for health care companies announcing developments that could aid in the coronavirus pandemic. The boost tacked more gains onto a recent upswing for the market, which is coming off the best week for the S&P 500 in 11 years.
The Dow rose 691 points, or 3.2%, to 22,327, marking its fourth gain in the last five days. The S&P 500 rose 3.4%, while the tech-heavy Nasdaq rose 3.6%.
Nascent optimism is budding that the worst of the selling may be approaching, but markets around the world are still tentative as global authorities try to nurse the economy through the pandemic. The S&P 500 remains 22.4% below its record set last month, and oil tumbled to an 18-year low.
[Source: CBS News]