Oct 05, 2020 2:40 PM
By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Wall Street rallied Monday as hopes for economic aid from Washington helped it recover all its knee-jerk losses after learning President Donald Trump tested positive for the coronavirus.
The S&P 500 jumped 60.19 points, or 1.8%, to 3,408.63 amid widespread gains, with nine out of 10 stocks in the index rising. Energy producers and tech companies led the way.
Treasury yields, stocks overseas and oil all climbed after Trump and House Speaker Nancy Pelosi both noted the importance over the weekend of additional support for the economy. The market’s rally accelerated after Trump tweeted in the afternoon that he'll leave the hospital, though his medical team said he “may n