The Nasdaq Composite (COMP) performed the strongest, collecting 3.2% in the middle of the afternoon.
The Dow (UNDUE) has increased by 1.1%, or 300 points, and S&P 500 (SPX) climb 2%.
All three benchmarks came once again closer to the recording area. The Nasdaq and S&P 500 have been ahead of their closing levels since early September, the latest Dow record in pre-pandemic times.
Shares of Apple (AAPL) were among the best performers in both indices. The tech giant will announce its new iPhone on Tuesday after weeks of pandemic delays. Apple shares traded nearly 7% higher.
Meanwhile, shares of the software company listed on the Nasdaq Twilio (TWLO) collected more than almost 8% after the company announced its intention to buy a data launch segment for $ 3.2 billion.
Software stocks seem to be off track, which dominated technology stocks in September, said Besike̵
7;s Paul Hickey, and Monday’s rally is proof of that.
Otherwise, Monday’s Columbus Day meant a calmer day in terms of economic news, but third-quarter earnings season is just around the corner. The season begins with major American banks, inclusive Citigroup (° C) and JPMorgan (JPM) starts reporting on Tuesday.
Analyzers in Goldman Sachs (GS) I think the profits will paint an uneven picture of corporate America as some businesses recover from the disastrous second quarter while others still struggle.
In addition to the winnings, the elections are also fast approaching, with only three weeks left.
“Investors are focused on the consequences of the Blue Wave election, given that the probability of a democratic scale has risen to 60% from 47% a month ago,” analysts said in a note to clients.
Investors will also have to watch headlines from Washington, where the Trump administration made a stimulating counter-offer to Democrats last week. The shares are likely to merge under a stimulus agreement, but so far, after months of negotiations, all we have has been instability.
There are many moving parts, but the most important factor for stocks is still the path of the virus and the potential vaccine, Goldman analysts say.