Stocks Jumped Monday on Signs Coronavirus Pandemic Is Slowing

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All three major indices ended the day in the green on Monday as investors reacted to data that suggest the number of new coronavirus cases is slowing.

The Dow Jones Industrial Average closed up more than 7% at 22,679.99. The Nasdaq Composite ended the day up over 7% at 7,913.24 and the S&P 500 gained 7% as well, closing at 2,663.68.

Data from Johns Hopkins suggest that new coronavirus cases may be slowing. While the trend is still young—and may be a blip—there were just 28,000 new cases on Sunday compared to 33,260 cases on Saturday and 32,100 cases on Friday,

New York, seen as the epicenter of the outbreak in the U.S., also saw a decrease in deaths on Sunday compared to Saturday. However, Governor Cuomo warned it's too early to know whether this is a fluke or a true flattening of the curve. “It is hopeful,” he said, “but it is also inconclusive."

Globally, there are over 1.2 million confirmed cases of the coronavirus. In Britain, Prime Minister Boris Johnson has been admitted to intensive care for treatment.

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