Stocks Ended at Record Highs on Stimulus Optimism

U.S. stocks ended at record highs on Monday, as stimulus optimism boosts markets. The Dow Jones Industrial Average rose 204.10 points, or 0.68%, to 30,403.97. The S&P 500 was up 32.30 points, or 0.87%, to 3,735.36. The Nasdaq Composite gained 94.69 points, or 0.74%, to 12,899.42.

Oil futures settled lower Monday, fading after getting an early boost following President Donald Trump’s decision over the weekend to reverse course and sign legislation that includes $900 billion in aid to consumers and small businesses. West Texas Intermediate crude for February delivery fell 61 cents, or 1.3%, to close at $47.62 a barrel. February Brent crude declined 43 cents, or 0.8%, to settle at $50.86 a barrel.

Goldman Sachs economists on Monday upgraded their forecast for first-quarter gross domestic product growth to 5% from 3% annualized, citing the boost to consumer spending the $900 billion stimulus package will confer.