Wall Street's main indexes were higher on Monday as investors monitored progress in government stimulus efforts along with rising U.S. COVID-19 cases and restrictions around the world.
The technology-heavy Nasdaq outperformed the S&P and the Dow.
Investors anxiously awaited a stimulus agreement, yet some worried the aid package would provide insufficient support for the economy in unemployment benefits particularly. These concerns were reflected in gains in assets viewed as safe havens such as the big growth companies and gold XAU=, according to Kristina Hooper, Chief Global Market Strategist at Invesco in New York.
“We know the fragility of U.S. households and we also know that much of the economic recovery we’ve seen so far can be attributed to stimulus,” she added. On Monday, as the world confronted the prospect of rising COVID-19 infections, nations in Asia and Europe imposed new restrictions.
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