U.S. stocks gained on Monday as investors hoped for a stimulus deal from Washington, although a rising number of coronavirus patients dampened sentiment. The Dow Jones Industrial Average traded 30 points higher, or 0.1 percent, while the S&P 500 gained by 0.2 percent and the Nasdaq Composite climbed by 0.3 percent. House Speaker Nancy Pelosi’s office said over the weekend that she is giving the Trump administration 48 hours to reach an aid deal before the Nov. 3 election. A continued economic recovery in China also boosted sentiment on Monday. The world’s second largest economy reported third-quarter GDP growth of 4.9 percent which was on the low end of expectations, but indicates an improving outlook.

Source: The Standard October 19, 2020 14:03 UTC