Dow jumps 580 points as Boeing shares rally

US stocks finished noticeably higher, boosted by solid gains in Boeing shares.

On Monday, the Dow Jones Industrial Average jumped 580.25 points, or 2.32 per cent, to 25,595.80. The S&P 500 was up 44.19 points, or 1.47 per cent, to 3,053.24. The Nasdaq Composite Index increased 116.93 points, or 1.20 per cent, to 9,874.15.

Boeing shares surged 14.4 per cent, leading the gainers in the 30-stock average.

All the 11 primary S&P 500 sectors closed higher, with industrials and materials up 2.36 per cent and 2.03 per cent, respectively, outpacing the rest.

Investors continued to eye the soaring number of coronavirus cases across the country while weighing its impact on an economic recovery.

More than 2.56 million confirmed COVID-19 cases have been reported in the United States, with nearly 126,000 deaths, as of Monday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.

US equities declined during the week ending Friday. The Dow dropped 3.3 per cent last week, while the S&P 500 and the Nasdaq fell 2.9 per cent and 1.9 per cent, respectively.