(CNBC) -- U.S. stocks rose on Monday to start off the new month amid increasing hope of a successful reopening of the economy. Those gains come after back-to-back monthly increases for stocks.
The Dow Jones Industrial Average gained 91.91 points, or 0.4%, to close at 25.475.02. The S&P 500 climbed 0.4% to 3,055.73 while the Nasdaq Composite added 0.7% to end the session at 9,552.05. The S&P 500 closed at its highest level since early March while the Nasdaq ended the session at levels not seen since late February.
“Equity markets continue to display remarkable resilience in the face of a constant barrage of troubling developments, with investors continuing to focus on the positive signs of reopening,” said Mark Hackett, chief of investment research at Nationwide. Hackett added, however, valuations are at their highest levels in nearly two decades, suggesting “markets are due for a breather following an unprecedented rally.”
Advertisement - story continues below