The gains have lifted the S&P 500 out of its bear market, which would officially end with the index closing above 2,684.88.
The S&P 500, which was close to exiting its bear market, ended the session modestly lower.
The number of new cases over the weekend in New York City, the U.S.’s epicenter for the virus, rose by 30.4 percent versus last week, down from a 46.1 percent jump the week prior.
The major futures indexes are indicating a decline of 1.3 percent when trading begins.
The Dow, which through Monday had fallen almost 22 percent this year, was on track for its biggest quarterly decline since 1987.
Scott Martin, Chief Investment Officer at Kingview Wealth Management, joins the show to talk about the horrible first quarter for stocks brought on by the coronavirus.
Monday’s advance comes after President Trump on Sunday evening announced the extension of social distancing guidelines through at least April 30.
On Thursday, Wall Street appeared to shrug off miserable news on unemployment as the S&P 500 rose 6.2 percent, bringing its three-day rally to 17.6 percent.
U.S. equity markets surged Tuesday morning amid investor optimism that members of Congress will overcome their differences to reach a deal on a $1.6 trillion COVID-19 stimulus package.
The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
U.S. equity markets slid Monday after the Federal Reserve announced "extensive new measures" to support the U.S. economy.
The Dow Jones Industrial Average climbed 134 points, or 0.7 percent, while the S&P 500 and Nasdaq Composite rose 1.01 percent and 1.6 percent, respectively.
U.S. equity futures plunged limit down after the Federal Reserve took emergency action on Sunday evening.
Stocks are opening sharply higher on Wall Street a day after the worst drop since 1987.
U.S. equity markets were halted shortly after the opening bell when the S&P fell by 7 percent.
Stocks, Treasury yields and oil are clawing back some of the plunge they took a day before, when the S&P 500 had its worst drop in more than a decade.
The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average, immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago.
The Dow Jones Industrial Average sank 7.8%, its steepest drop since the financial crisis of 2008, as a free-fall in oil prices and worsening fears of fallout from the spreading coronavirus outbreak seize markets.
Stocks fell sharply on Wall Street Tuesday after an emergency interest-rate cut by the Federal Reserve failed to reassure markets racked by worries that a fast-spreading virus outbreak could lead to a recession.
The huge gains clawed back some of the ground lost in a massive sell-off that gave stocks their worst week since the financial crisis of 2008.