U.S. stocks climbed at opening Tuesday as Senate leaders were optimistic about reaching an agreement on a $2 trillion pandemic relief bill.
The Dow Jones Industrial Average opened up 6.03%.
The S&P 500 and Nasdaq composite were also up, 5.1% and 5%, respectively.
Investors hoped for a breakthrough in Congress after two failed attempts to move a Senate rescue bill forward on Monday and Sunday night. The Dow during Monday trading was down more than 30% from its record high and was on course to have its worst month since September 1931, according to CNBC. The index closed over 580 points lower on Monday.
If the Senate approves its bill, passage is unclear in the House. Democrats in that chamber introduced their own $2.5 trillion pandemic relief bill on Monday that would require airlines that receive financial assistance to offset their carbon emissions, among other liberal provisions that have outraged Republicans in the Senate.
Oil prices were also up, with WTI Crude trading at over $23 a barrel, a 2.14% increase. Brent Crude was up 2.80%, trading at $30.11 a barrel.
The yield on the 10-year Treasury bond was up but still below 1%, at 0.84%.
