U.S. stocks climbed on Monday as investors cheered Senate approval of a new COVID stimulus package, piling into shares best-positioned to benefit from an economic comeback.
The Dow Jones Industrials popped 433.73, or 1.4%, points to move into noon hour at 31,930.03
The S&P leaped 20.89 points to 3,862.35.
The NASDAQ Composite remained negative, however, 75.1 points to 12,845.04.
Disney shares added nearly 4% after California eased COVID rules, paving the way for Disneyland to reopen on a limited basis in April. American Airlines jumped 4%, while United Airlines popped 6%. Target rose 2.7%
The Senate passed a $1.9-trillion economic relief and stimulus bill on Saturday, paving the way for extensions to unemployment benefits, another round of stimulus checks and aid to state and local governments.
The Democrat-controlled House is expected to pass the bill later this week. President Joe Biden is expected to sign it into law before unemployment aid programs expire on March 14.
Prices for 10-Year Treasurys sagged, raising yields to 1.59% from Friday's 1.57%. Treasury prices and yields move in opposite directions.
Oil prices shed 78 cents to $65.31 U.S. a barrel.
Gold prices dulled $15.20 to $1,683.30.