The Dow climbed 359 points, posting the 4th straight day of gains as major economies move toward reopening.
US equities climbed on Monday, extending gains from Friday’s session as investors cheered economic-reopening plans.
New York Gov. Andrew Cuomo on Sunday revealed the state’s plan for a gradual recovery, a positive signal for the US’s coronavirus hotspot.
Oil missed out on the market upswing, sliding as much as 30% amid continued stress on global storage and accelerated production cuts.
Cuomo may ‘un-pause’ certain parts of New York on May 15, but harder-hit areas will stay closed.
New York Gov. Andrew Cuomo says certain parts of the state where the outbreak of the coronavirus is under control may be able to reopen on May 15.
Harder-hit areas, including New York City, Westchester, and Long Island, will reopen later.
The state also released its updated antibody test results. Nearly one-in-four New Yorkers may have been infected, an increase from the previous results released last week.
New York cancels its June 23 presidential primary.
In an unprecedented move, New York has canceled its Democratic presidential primary originally scheduled for June 23 amid the coronavirus epidemic.
The Democratic members of the State’s Board of Elections voted Monday to nix the primary.
New York will still hold its congressional and state-level primary elections on June 23.
New York Democratic Party chair Jay Jacobs has said that the cancellation of the state’s presidential primary would mean a lower expected turnout and a reduced need for polling places.
Chuck Schumer proposes ‘No PR Act’ to prevent Trump and Pence’s names from appearing on stimulus checks.
Sen. Chuck Schumer announced the “No PR Act,” a proposed provision to upcoming stimulus legislation that would prohibit President Donald Trump’s name from appearing on future aid checks.
In March, the Treasury Department announced it would add the president’s name in the corner of the stimulus checks distributed to Americans by the $2.2 trillion CARES Act.
The Senate is scheduled to return from its extended recess on May 4, when Congress is expected to negotiate future coronavirus aid legislation.