he S&P 500 rallied to a fresh all-time high, building on the previous week’s move through the record set in late February. Monday’s action was driven by a combination of optimism around the coronavirus — with daily U.S. cases falling and the government approving emergency treatments — as well as additional gains in tech.
Apple shares rose, leading other tech-related names higher, including Facebook and Alphabet. Shares of airlines and cruise operators gained amid positive coronavirus treatment developments. United Airlines rose by more than 9% along with American. Delta gained 9.3%.
Monday’s moves came as the number of new coronavirus cases continues to decline in the U.S. Since spiking to more than 64,000 cases earlier this month, the number of new daily infections in the U.S. has not topped 49,000.
Today’s Economic Data
15:00 (UK time): CB Consumer Confidence (USD)