Stocks vault higher, as Nasdaq hits record on economy hopes

NEW YORK (AP) — Wall Street's enthusiasm about the reopening economy sent stocks scrambling even higher on Monday, and the Nasdaq composite wiped away the last of its coronavirus-induced losses to set a record.

The S&P 500, which dictates how more 401(k) accounts perform, climbed back within 4.5% of its own record as optimism strengthens that the worst of the recession may have already passed. Stocks that would benefit most from an economy that's growing again rose the most, including smaller companies, airlines and oil producers.

The S&P 500 rallied 38.46 points, or 1.2%, to 3,232.39 and is a...

 

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