The market moved sharply higher on Monday, trying to recover from its fourth straight week of losses, as investors cheered progress in negotiations over the next coronavirus stimulus bill.
The Dow Jones Industrial Average was up 1.5%, over 400 points, on Monday, while the S&P 500 rose 1.6% and the tech-heavy Nasdaq Composite gained 1.9%.
With only a few days of trading left in September, all three major averages are still on track to post their first monthly losses since March, when the stock market hit a low point during the coronavirus pandemic.
Big Tech stocks, which have been the main source of the market’s sell-off in September, rebounded on Monday: Shares of Amazon, Apple, Microsoft, Facebook and Google-parent Alphabet all rose.
Bank stocks also led the market higher, with JPMorgan Chase, Bank of America, Citigroup,