- The major Wall Street indices posted impressive gains on Monday.
- United States President Joe Biden will meet with Republican senators to discuss the $ 600 billion COVID relief plan.
- The S&P 500 Technology Index is up nearly 1.5%.
The main US stock indices opened sharply higher on Monday, as investors celebrate renewed hopes for additional fiscal stimulus in the U.S. At time of writing, the Dow Jones Industrial Average was up 0.75% on the day to 30,203, the S&P 500 Index rose a 0.95% to 3,749 and the Nasdaq Composite gained 1.25% to 13,087.
Reflecting market optimism, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, was down nearly 5% on the day.
US Republican Senator Susan Collins announced that US President Joe Biden agreed to meet with 10 Republican senators on Monday to discuss the stimulus package worth around $ 600 billion.
Among the top 11 sectors in the S&P 500, consumer discretionary and technology indices gain more than 1% as the top performers after the opening bell. On the other hand, the defensive utility and real estate indices are trading in negative territory.
S&P 500 chart (daily)
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