US STOCKS-Stimulus hopes lift Wall St as severity of Trump's illness unclear

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* Doctors to weigh if Trump can leave hospital Monday -
Trump aide
* Regeneron jumps as Trump takes dose of its dual antibody
* MyoKardia surges on takeover deal with Bristol-Myers
* Service sector activity rises above pre-pandemic level
* Indexes up: Dow 1.31%, S&P 1.42%, Nasdaq 1.86%

(Updates to early afternoon)
By Devik Jain and Sagarika Jaisinghani
Oct 5 (Reuters) - Wall Street jumped on Monday as hopes of
more fiscal stimulus helped the three main indexes recover from
a sharp fall in the previous session, while investors awaited
updates on the severity of President Donald Trump's COVID-19
symptoms.
Doctors at Walter Reed National Military Medical Center are
treating Trump with a steroid that is normally used only in the
most severe cases. Still, White House Chief of Staff Mark
Meadows said Trump's medical team will weigh whether he can
leave the hospital later in the day. Ten of the 11 major S&P indexes were up, with energy
.SPNY , the worst performing sector this year, rising 1.8%.
Materials .SPLRCM and information technology .SPLRCT were
also among the biggest gainers on the day.
Shares of Regeneron Pharmaceuticals Inc REGN.O jumped 7.1%
after Trump's physician said he had been treated with an
intravenous dose of Regeneron's dual antibody treatment. The
wider healthcare index .SPXHC added 1.8%. "One of his treatments was an experimental drug from
Regeneron (and) that's showing that this could be a major
component to treatments moving forward for people," said Thomas
Hayes, chairman at Great Hill Capital LLC in New York.
Doubts about the scale of further fiscal aid and a slowing
economic recovery have weighed on the S&P 500 recently, with the
benchmark index in September logging its worst month since the
coronavirus-driven crash earlier this year.
But Meadows said on Monday there was still potential to
reach an agreement with U.S. lawmakers on more coronavirus
relief and that Trump was committed to getting the deal done.
"There's more optimism around a bill coming to the market
sooner rather than later," said Keith Buchanan, portfolio
manager at GLOBALT Investments in Atlanta, Georgia.
"We need another layer of assistance as the economy is still
under tremendous stress that has come from the virus."
After data last week showed an unexpected slowdown in the
domestic manufacturing sector in September, figures on Monday
showed activity in the broader services industry pulled above
levels that prevailed before the COVID-19 pandemic. At 12:55 p.m. ET, the Dow Jones Industrial Average .DJI
was up 1.31%, the S&P 500 .SPX was up 1.42% and the Nasdaq
Composite .IXIC was up 1.86%.
Heavyweight tech-related stocks including Apple Inc
AAPL.O , Nvidia Corp NVDA.O , Amazon.com Inc AMZN.O and
Microsoft Corp MSFT.O were up between 1.4% and 2.6% after
weighing heavily on the Nasdaq .IXIC on Friday.
The S&P banking subindex .SPXBK added 1.8% as the U.S.
Treasury 30-year yield hit its highest since late August. US/
Real estate .SPLRCR - considered a defensive play - was
the only S&P sector in the red.
MyoKardia Inc MYOK.O surged 57.8% after Bristol Myers
Squibb Co BMY.N said it would buy the company for about $13
billion. Shares of Bristol Myers rose 0.3%. Advancing issues outnumbered decliners 2.95-to-1 on the NYSE
and 3.19-to-1 on the Nasdaq.
The S&P index recorded 23 new 52-week highs and no new low,
while the Nasdaq recorded 95 new highs and 11 new lows.