U.S. stocks booked modest gains on Monday as investors largely overlooked the rising tally of coronavirus cases across the U.S., amid hopes that efforts to reopen the economy would continue to make progress.
The Dow Jones Industrial Average DJIA, +0.59% advanced 152 points, or 0.6%, to end around 26,023, based on preliminary numbers. The Nasdaq Composite COMP, +1.10% gained 110 points, or 1.1%, to finish near 10,056. The S&P 500 SPX, +0.65% rose 20 points, or 0.7%, to 3,118.
The day's gains were led by technology shares, propelling the Nasdaq above the 10,000 level. Even as 24 states showed an increasing trend in cases this past week, investors aren't expecting new lockdown measures to be put in place, allowing the U.S. recovery to truck on. In company news, shares of American Airlines Group Inc. AAL, -6.75% fell 6.7% after the air carrier announced Sunday that it would raise $3.5 billion in new financing.
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