NEW YORK (AP) – Stocks are moving higher on Wall Street, extending a global rally, as the U.S. market bounces back from its worst week in two months.
The S&P 500 rose 3.2% Monday. Investors were encouraged to see that European countries were taking more steps to lift lock-downs put in place to contain the coronavirus outbreak.
They were also cheered by word from a drug company that it had encouraging results in very early testing of an experimental coronavirus vaccine.
Over the weekend Federal Reserve Chair Jerome Powell expressed optimism that the U.S. economy could begin to recover in the second half of the year.
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