Stocks Rally as States Begin to Reopen After COVID-19 Shutdowns

Stocks Rally as States Begin to Reopen After COVID-19 Shutdowns

Stocks Rally as States Begin to Reopen After COVID-19 Shutdowns Over the weekend, Georgia, Oklahoma and South Carolina began the process of reopening some businesses and public places.

On Monday, the Dow Jones Industrial Average gained .54 percent minutes after trading had begun.

The S&P 500 and Nasdaq Composite rose .69 percent and .89 percent, respectively.

Last week, President Donald Trump signed a relief package injecting $310 billion into the Paycheck Protection Program.

Banks are expected to resume processing applications for the program.

Prominent companies including 3M, Tesla, Apple, Caterpillar and Amazon will report their quarterly results later in the week.

Commodities didn't fare as well.

West Texas Intermediate crude oil fell 28 percent, and gold is down .13 percent.

Markets also rallied across Asia.

Japan's Nikkei rose 2.71 percent, China's Shanghai Composite gained .25 percent and Hong Kong's Hang Seng rose 1.88 percent.