U.S. stock indexes closed mostly higher Monday, nudging the S&P 500 within striking distance of its all-time high set in February.
The S&P 500 rose 0.3% after wavering between small gains and losses in the early going. The benchmark index is now within 1% of its last record high.
Most stocks across Wall Street rose, with hotels, cruise operators and airlines — among the companies hit hardest by the pandemic — seeing the biggest gains. Smaller stocks also had a strong showing, pushing the Russell 2000 index up 15.49 points, or 1%, to 1,584.67. Losses in technology, healthcare and communication services stocks, which have been among the biggest gainers this year, kept the market’s gains in check.
Investors have been saying the economy needs another big lifeline from Washington, and quickly, after $600 in weekly unemployment benefits for workers from the federal government expired with July’s end. But talks broke apart on Friday, and Trump issued his executive orders on Saturday. Both the White House and congressional Democrats indicated Sunday they wanted to resume negotiations, but no talks were scheduled.
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