U.S. equity markets gained Monday morning, continuing the momentum from the Dow’s best week in more than 80 years.

The Dow Jones Industrial Average climbed 223 points, or 1 percent, in the opening minutes of trading while the S&P 500 and Nasdaq Composite were both higher by 1.4 percent, respectively. Last week, the Dow gained 13 percent, making for its best week since 1938.

Monday’s advance comes after President Trump on Sunday evening announced the extension of social distancing guidelines through at least April 30.

Looking at stocks, airlines slid as they awaited the release tens of billions of dollars of aid from the federal government.

Cruise operators remained under pressure after receiving a downgrade from Berenberg Research.

General Motors gained after Trump praised the automaker, saying it was doing a “fantastic job” ramping up ventilator production.

Abbott Laboratories surged after the company’s five minute COVID-19 test received Food & Drug Administration approval. Johnson & Johnson announced testing for its COVID-19 vaccine would begin by September and that it could be available for emergency use authorization in early 2021.

Regeneron and Sanofi said Monday that their rheumatoid arthritis drug Kevzara treated its first patient with severe COVID-19 in a global clinical trial.

Elsewhere, Apple gained despite Reuters reporting iPhone demand was likely to be down 18 percent from a year ago.

Jefferies CFO Peg Broadbent died over the weekend due to complications related to COVID-19. Read more at FOX Business