The Dow rose more than 400 points, or 1.7%, in trading at noon on Monday. Dow component Boeing (licensed in letters) It led the gains, rising 6% after the Federal Aviation Administration said Boeing could begin test flights of its 737 Max aircraft on the ground.
A 44.3% stronger-than-expected increase in pending home sales for May also helped list investor spirits. The numbers are another sign of a rebound in housing, and potentially the economy as a whole, which is now in the midst of a recession due to the Covid-19 pandemic.
The S&P 500 and Nasdaq also increased 1%. And the eleven market sectors were superior, including technology.
But the actions of Facebook (full board), which fell more than 8% on Friday and opened lower on Monday morning, rose at noon even as blue chip companies like Starbucks (SBUX), Diageo (DEO) and Levi Strauss (LEVI) United Unilever (UL), Verizon (VZ) and other companies that have decided to remove Facebook ads.
Shares plummeted on Friday due to mounting concerns about a second wave of Covid-19 cases in Florida, Texas and other states.
Investors are preparing to learn more about how the US economy is recovering in the wake of the coronavirus outbreak when the government reports Thursday's June job numbers.
The economy unexpectedly added 2.5 million jobs in May and the unemployment rate fell, albeit to a still high level, of 13.3%. Job numbers will be released on Thursday as the stock market is closed on Friday in compliance with the July 4 holiday.