U.S. stocks rose sharply, recovering from declines in the previous session, as investors viewed more fiscal stimulus as likely and after news President Donald Trump will leave the hospital where he is being treated for COVID-19.
Trump said he felt “really good” and will leave Walter Reed National Military Medical Center at 6:30 p.m. (2230 GMT). Trump has been at the hospital since late Friday.
Shares of Regeneron Pharmaceuticals Inc jumped 7.1% after Trump’s physician said he had been treated with Regeneron’s experimental antibody treatment for the disease, which has killed more than a million people worldwide and wreaked economic havoc.
White House Chief of Staff Mark Meadows said on Monday there was still potential to reach an agreement with U.S. lawmakers on more coronavirus relief and that Trump was committed to getting the deal done.
The Dow Jones Industrial Average rose 465.83 points, or 1.68%, to 28,148.64, the S&P 500 gained 60.16 points, or 1.80%, to 3,408.6 and the Nasdaq Composite added 257.47 points, or 2.32%, to 11,332.49.