<p>US stocks rose on Monday, with each of Wall Street's main indexes touching record levels as President Donald Trump's signing of a long-awaited $2.3 trillion pandemic aid bill increased optimism for an economic recovery.</p>.<p>In a sudden reversal late on Sunday, Trump backed down from his threat to block the hard-fought bill, restoring unemployment benefits to millions of Americans and averting a federal government shutdown.</p>.<p>"Stocks are riding the coattails of the additional stimulus program and that is for good reason," said Terry Sandven, chief equity strategist at US Bank Wealth Management in Minneapolis, Minnesota.</p>.<p>"You’ve still got monetary and fiscal stimulus that is in motion and that clearly provides economic stability, medical progress for Covid-19 continues to evolve and that will unfold at a more accelerated rate now as you get into the new year and importantly, the macro environment is favorable for stocks," he said.</p>.<p>The Dow Jones Industrial Average rose 219.36 points, or 0.73%, to 30,419.23, the S&P 500 gained 34.95 points, or 0.94%, to 3,738.01 and the Nasdaq Composite added 114.10 points, or 0.89%, to 12,918.84.</p>.<p>Stocks battered by coronavirus lockdowns, such as airlines and cruise lines, advanced. The S&P 1500 airlines index added 1.5% as carriers are set to receive $15 billion in addition payroll assistance under the new government aid.</p>.<p>Cruise operators Royal Caribbean Cruises Ltd, Carnival Corp and Norwegian Cruise Line Holdings Ltd each rose by at least 4%</p>.<p>On a sector basis, gains were led by communication services, consumer discretionary and tech as each posted gains of more than 1%.</p>.<p>After a sharp recovery from a coronavirus crash in March, the S&P 500 is on track to rise more than 15% this year on the back of a loose monetary policy, high liquidity and a COVID-19 vaccine program.</p>.<p>Despite the generally favorable conditions for equities, worries over a resurgence in coronavirus cases, upcoming US Senate runoffs in Georgia and stretched valuations could become headwinds. The forward price-to-earnings ratio of the S&P is currently about 22.2, well above its long-term average of 15.3.</p>.<p>Trading volumes are expected to be thin in the final week of the year that has historically been a seasonally strong period for equities.</p>.<p>Democrats in the US Congress on Monday will put to vote a proposal for higher pandemic relief payments for Americans, although it appears unlikely to gain traction in the Republican-controlled Senate.</p>.<p>Adding to a global appetite for risk, Britain and the European Union clinched a lean post-Brexit trade deal on Thursday, while a mass COVID-19 vaccination drive in Europe was launched over the weekend.</p>.<p>Tesla Inc advanced 0.90% after a report that the electric-car maker will start operations in India early next year.</p>.<p>Lockheed Martin Corp edged up 0.41% after the fighter jet maker said it delivered 123 F-35 jets in 2020, near the top end of its revised outlook.</p>.<p>Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.29-to-1 ratio favored advancers.</p>.<p>The S&P 500 posted 35 new 52-week highs and no new lows; the Nasdaq Composite recorded 234 new highs and 13 new lows. </p>
<p>US stocks rose on Monday, with each of Wall Street's main indexes touching record levels as President Donald Trump's signing of a long-awaited $2.3 trillion pandemic aid bill increased optimism for an economic recovery.</p>.<p>In a sudden reversal late on Sunday, Trump backed down from his threat to block the hard-fought bill, restoring unemployment benefits to millions of Americans and averting a federal government shutdown.</p>.<p>"Stocks are riding the coattails of the additional stimulus program and that is for good reason," said Terry Sandven, chief equity strategist at US Bank Wealth Management in Minneapolis, Minnesota.</p>.<p>"You’ve still got monetary and fiscal stimulus that is in motion and that clearly provides economic stability, medical progress for Covid-19 continues to evolve and that will unfold at a more accelerated rate now as you get into the new year and importantly, the macro environment is favorable for stocks," he said.</p>.<p>The Dow Jones Industrial Average rose 219.36 points, or 0.73%, to 30,419.23, the S&P 500 gained 34.95 points, or 0.94%, to 3,738.01 and the Nasdaq Composite added 114.10 points, or 0.89%, to 12,918.84.</p>.<p>Stocks battered by coronavirus lockdowns, such as airlines and cruise lines, advanced. The S&P 1500 airlines index added 1.5% as carriers are set to receive $15 billion in addition payroll assistance under the new government aid.</p>.<p>Cruise operators Royal Caribbean Cruises Ltd, Carnival Corp and Norwegian Cruise Line Holdings Ltd each rose by at least 4%</p>.<p>On a sector basis, gains were led by communication services, consumer discretionary and tech as each posted gains of more than 1%.</p>.<p>After a sharp recovery from a coronavirus crash in March, the S&P 500 is on track to rise more than 15% this year on the back of a loose monetary policy, high liquidity and a COVID-19 vaccine program.</p>.<p>Despite the generally favorable conditions for equities, worries over a resurgence in coronavirus cases, upcoming US Senate runoffs in Georgia and stretched valuations could become headwinds. The forward price-to-earnings ratio of the S&P is currently about 22.2, well above its long-term average of 15.3.</p>.<p>Trading volumes are expected to be thin in the final week of the year that has historically been a seasonally strong period for equities.</p>.<p>Democrats in the US Congress on Monday will put to vote a proposal for higher pandemic relief payments for Americans, although it appears unlikely to gain traction in the Republican-controlled Senate.</p>.<p>Adding to a global appetite for risk, Britain and the European Union clinched a lean post-Brexit trade deal on Thursday, while a mass COVID-19 vaccination drive in Europe was launched over the weekend.</p>.<p>Tesla Inc advanced 0.90% after a report that the electric-car maker will start operations in India early next year.</p>.<p>Lockheed Martin Corp edged up 0.41% after the fighter jet maker said it delivered 123 F-35 jets in 2020, near the top end of its revised outlook.</p>.<p>Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.29-to-1 ratio favored advancers.</p>.<p>The S&P 500 posted 35 new 52-week highs and no new lows; the Nasdaq Composite recorded 234 new highs and 13 new lows. </p>