U.S. equity markets climbed to record highs Monday as investors looked ahead to the prospect that President Biden’s $1.9 trillion COVID-19 relief package would sail through Congress.


Both chambers of Congress on Friday adopted a resolution that would allow Democrats to use budget reconciliation rules to pass the plan with a simple majority rather than the 60 votes that are normally required. Biden, over the weekend, conceded that a $15 minimum wage likely wouldn't be included in the final bill.

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The Dow Jones Industrial rallied 236 points, or 0.76%, while the S&P 500 and the Nasdaq Composite gained 0.74% and 0.95%, respectively. The advance boosted all three of the major averages to record highs with the Dow and the S&P booking gains for a sixth straight day.

Disney rallied nearly 5% ahead of earnings on Thursday, while energy stocks rose as oil continued its climb. West Texas Intermediate crude oil climbed $1.12 to $57. per barrel, as Brent crude oil edged up $1.22 to $60.56 per barrel, the highest level in nearly a year. Read more at Fox Business