Wall Street rallies on coronavirus recovery hopes, Nasdaq hits new record close

Wall Street indices powered ahead on Monday as investors bet on the economy’s continued ability to recover from the coronavirus pandemic, with the Nasdaq reaching a new record close.

The tech-rich index gained 1.1 percent to finish the session at 9,924.74, more than 100 points above its previous peak in February.

The benchmark Dow Jones Industrial Average gained 1.7 percent to close at 27,572.44, while the broad-based S&P 500 rose 1.2 percent to 3,232.39.