Major U.S. stock indexes rose as Senate Majority Leader Chuck Schumer said the chamber will vote today on a first step toward eventually approving President Joe Biden’s $1.9 trillion coronavirus recovery package in an expedited process.
The S&P 500 increased 1.7% to 3,838.42 during midday trading.
The Dow Jones Industrial Average surged 1.9% to 30,791.25.
The Nasdaq climbed 1.7% to 13,626.03.
The yield on a 10-year Treasury bond rose 2.2% to 1.1%
The price of gold decreased 1.3% to $1,839.10.
The price for a barrel of oil climbed 2% to $54.64.
CoreLogic Inc. (NYSE: CLGX), an Irvine-based provider of real estate and insurance data, rose 5.2% to $80.16 per share for a market cap of $6.2 billion, after Bloomberg News reported that CoreLogic received an $86-a-share acquisition bid from real estate analytics company CoStar Group.
Irvine-based cancer test maker OncoCyte Corp. (NYSE: OCX) rose 7.3% to $5.46 per share for a market cap of $389 million. The company announced earlier that it had entered into an agreement to acquire, through a subsidiary, Chronix Biomedical, a privately held molecular diagnostics company developing blood tests for use in cancer treatment and organ transplants.