U.S. stocks jumped more than 7% Monday as investors cheered new data showing the possibility that the number of new coronavirus cases may be slowing and a peak may be near.
- The S&P 500 rallied 175.03 points (7.03%) to 2,663.68
- The Dow jumped 1,627.46 points (7.73%) to 22,679.99
- The Nasdaq Composite surged 540.15 (7.33%) to 7,913.24
Investors were encouraged by data that shows a slowing in the number of daily U.S. coronavirus cases, although it is still early to determine a lasting trend. There were about 30,000 new cases on Thursday, 32,100 cases on Friday, 33,260 cases on Saturday, and then a slowing to just 28,200 new cases Sunday, according to the latest data from Johns Hopkins.