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U.S. equity markets soared late Monday on chatter that a new round of fiscal stimulus valued at $1.5 trillion could come by mid-May, as reported by FOX Business’ Charlie Gasparino.
The report fueled a late-day surge that added to the strong gains that developed early in the session after new data showed COVID-19 could be slowing in some of the hardest-hit areas.
The Dow Jones Industrial Average gained 1,627 points or 7.7 percent, while the S&P 500 and Nasdaq Composite were higher by 7 percent and 7.3 percent, respectively. It was the third-largest point gain for each.
