Dow climbs over 500 pts as Wall Street rally accelerates

Monday, 28. September 2020 16:41

Shares on Wall Street increased gains on Monday as the Dow Jones jumped over 500 points. The banking and tech sectors led the gains in New York, while sentiment was boosted by hopes of more fiscal stimulus from Congress drawing closer.

Over the weekend, House Speaker Nancy Pelosi said Democrats may introduce their latest coronavirus-related economic stimulus proposal as a congressional bill.

The Dow was up 502 points at 10:41 am ET. A the same time, the S&P 500 jumped 1.52%, while the Nasdaq 100 spiked 1.20%. Boeing, Biogen, Tesla led the gains, while tech stocks and banking shares all traded higher as well.

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Breaking the News / JC