(CNBC) — U.S. stocks climbed on Monday, the first trading day of May, as shares tied to the economic reopening rallied on relaxed pandemic restrictions.
The Dow Jones Industrial Average rose 238.38 points, or 0.7%, to 34,113.23. The S&P 500 gained 0.3% to 4,192.66. The Nasdaq Composite fell 0.5% to 13,895.12, however, after Big Tech stocks pulled back following a strong month.
Bets on the economic reopening led the market advance, especially retailers. Royal Caribbean and American Airlines rose more than 1% each. Gap rallied more than 7%. Dillard’s rose nearly 10%, while Macy rallied 8%. Urban Outfitters and Kohl’s both gained more than 5%.
