US stocks jump 250 points as reopening optimism continues to boost stocks

US stocks jumped on Monday, building on the previous week’s sharp gains on optimism over the economy reopening.

The Dow Jones Industrial Average traded 250 points higher, or about 1%. The S&P 500 climbed 0.4% while the Nasdaq Composite was flat.

The Dow surged 6.8 percent last week while the S&P 500 jumped 4.9 percent. The Nasdaq Composite climbed 3.4 percent and closed at record levels for the first time since Feb. 19. The tech-heavy Nasdaq was the first of the three major indexes to trade back at all-time highs since the coronavirus pandemic shuttered the global economy.

The S&P 500 is down just 0.7 percent for the year. At one point this year, the broader market index was down 30%.