U.S. stocks rose on Monday as investors hoped for a stimulus deal from Washington, although a rising number of Covid-19 cases dampened sentiment.
The Dow Jones Industrials amassed 78.60 points to begin a new week at 28,684.91
The S&P 500 inched ahead 0.02 points to 3,483.79.
The NASDAQ poked ahead 2.92 points to 11,674.48.
House Speaker Nancy Pelosi's office said over the weekend that she is giving the Trump administration 48 hours to reach an aid deal before the Nov. 3 election. Pelosi and Treasury Secretary Steven Mnuchin continued their discussions on Saturday. They agreed to speak again on Monday.
A continued economic recovery in China also boosted sentiment on Monday. The world's second largest economy reported third-quarter GDP growth of 4.9%, which was on the low end of expectations, but indicates an improving outlook.
Meanwhile, global coronavirus cases hit 40 million on Monday, which put a damper on bullish sentiment.
An analysis of Johns Hopkins University data showed Covid-19 cases were growing by 5% or more in 38 states as of Friday. Nationwide, the daily case average has risen by more than 16% on a week-over-week basis to nearly 55,000. New coronavirus infections in Europe are rising by about 97,000 per day, up 44% from the prior week.
Prices for the 10-Year Treasury lost ground, lifting yields to 0.75% from Friday's 0.75%. Treasury prices and yields move in opposite directions.
Oil prices added 19 cents at $41.07 U.S. a barrel.
Gold prices brightened $5.30 to $1,911.70