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U.S. Stocks Holding On To Strong Gains After Early Advance

(RTTNews) - Stocks remain mostly positive in mid-day trading on Monday after showing a strong move to the upside earlier in the session. The major averages are adding to last Friday's gains, with the Nasdaq reaching its best intraday level in well over a month.

In recent trading, the major averages have pulled back off their highs but remain firmly positive. The Dow is up 277.00 points or 1.2 percent at 24,052.27, the Nasdaq is up 98.87 points or 1.2 percent at 8,733.39 and the S&P 500 is up 35.95 points or 1.3 percent at 2,872.69.

The strength on Wall Street comes after New York Governor Andrew Cuomo announced plans for a phased reopening of his state's economy.

Cuomo suggested the first phase, which involves "low risk" businesses in the manufacturing and construction sectors, could begin shortly after New York's stay-at-home order expires on May 15.

The decision to announce the reopening plans comes as New York has seen as steady decline in coronavirus hospitalization rates, with Cuomo expressing optimism the worst is over.
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