Stocks closed higher on Wall Street Monday, recovering some of the ground they lost last week in their biggest weekly drop since October. The S&P 500 index rose 1.6%. Investors large and small continued to focus on GameStop and other stocks targeted by online traders hoping to inflict damage on hedge funds. Investors are watching negotiations in Washington over President Joe Biden’s proposed $1.9 trillion economic aid package.
The S&P 500 rose 59.62 points, or 1.6%, to 3,773.86.
The Dow Jones Industrial Average rose 229.29 points, or 0.8%, to 30,211.91.