March Is Coming In Like A Lion. At Least On Wall Street.

FILE - American flags hang outside of the New York Stock Exchange, in this Tuesday, Feb. 16, 2021, file photo. Stocks are higher across the board in early trading on Wall Street as bond yields ease lower following several weeks of shooting higher. Traders were also watching Washington as a big economic stimulus bill moved to the Senate. The S&P 500 was up 1.5% in the early going Monday, March 1, 2021. (AP Photo/Frank Franklin II, File)

Wall Street woke up in a good mood Monday morning.

Fueled by a couple bits of news that investors felt was good, the Dow Jones Industrial Average was up 647 points, the S&P rose 2.05%, and Nasdaq opened 1.74% higher.

Here’s a big reason why. The new COVID-19 relief package President Biden sent to the House passed by a vote of 219 to 212.  Once formally finalized, that is going to trigger $1,400 stimulus checks to most Americans and keeps unemployment benefits intact.

The other news that motivated investors was the single shot COVID-19 vaccine from Johnson & Johnson that was approved by the FDA.  Doses are being shipped out already.

The gains were almost across the board on Monday, as only stocks win the entire S&P 500 were trading lower.  The NYSE showed that for every stock that declined on Monday, 11 stocks were higher.

Overall for the month of February, the Dow was up 3.15%.  The S&P final numbers for February were 2.61% higher, and the Nasdaq gained almost 1%.

 

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