US STOCKS-Wall St at record levels after Trump signs fiscal aid bill

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* Markets rise on recovery hopes
* Tesla up on report of India entry next year
* Stay-at-home stocks drop on vaccine cheer
* Indexes up: Dow 0.8%, S&P 0.9% and Nasdaq 0.8%

(Adds comment; updates share prices)
By Devik Jain and Supriya R
Dec 28 (Reuters) - Wall Street's main indexes were trading
at record levels on Monday as President Donald Trump's signing
of a long-awaited $2.3 trillion pandemic aid bill bolstered bets
on an economic recovery.
In a sudden reversal late on Sunday, Trump backed down from
his threat to block the hard-fought bill, restoring unemployment
benefits to millions of Americans and averted a federal
government shutdown. "The passage of the stimulus bill is erasing some fears and
investors are relieved that there is help out there," said Peter
Cardillo, chief market economist at Spartan Capital Securities
in New York.
The S&P 1500 airlines index .SPCOMAIR added 1.5% as
carriers are set to receive $15 billion in addition payroll
assistance under the new government aid.
Cruise operators Royal Caribbean Cruises Ltd RCL.N ,
Carnival Corp CCL.N and Norwegian Cruise Line Holdings Ltd
NCLH.N also rose between 3% and 5%.
Ten of the 11 major S&P sectors were higher with technology
.SPLRCT , consumer services .SPLRCL and consumer
discretionary .SPLRCD posting the biggest gains.
After a sharp recovery from a coronavirus crash in March,
the S&P 500 is on track to rise more than 15% this year on the
back of a loose monetary policy, high liquidity and a COVID-19
vaccine program.
However, near-term outlook for equities remain clouded on
worries over a resurgence in coronavirus pandemic, mixed
economic data and upcoming U.S. Senate runoffs in Georgia.

Trading volumes are expected to be thin in the final week of
the year that has historically been a seasonally strong period
for equities.
At 11:46 a.m. ET, the Dow Jones Industrial Average .DJI
rose 237.05 points, or 0.78%, to 30,437.00 the S&P 500 .SPX
gained 31.32 points, or 0.85%, to 3,734.49 and the Nasdaq
Composite .IXIC gained 96.52 points, or 0.76%, to 12,901.82.
Democrats in the U.S. Congress on Monday will put to vote a
proposal for higher pandemic relief payments for Americans,
although it appears unlikely to gain traction in the
Republican-controlled Senate. Fueling a global appetite for risk, Britain and the European
Union clinched a lean post-Brexit trade deal on Thursday, while
the launch of a mass COVID-19 vaccination drive in Europe over
the weekend added to the upbeat mood. Tesla Inc TSLA.O rose 1.3% after a report that the
electric-car maker will start operations in India early next
year. Netflix Inc NFLX.O , Peloton Interactive Inc PTON.O and
Zoom Video Communications Inc ZM.O , which have outperformed
throughout the health crisis, slipped between 0.1% and 5%.
Lockheed Martin Corp LMT.N rose 0.1% after the fighter jet
maker said it delivered 123 F-35 jets in 2020, near the top end
of its revised outlook. Advancing issues outnumbered decliners by a 1.7-to-1 ratio
on the NYSE and by a 1.4-to-1 ratio on the Nasdaq.
The S&P 500 posted 31 new 52-week highs and no new lows,
while the Nasdaq recorded 392 new highs and 14 new lows.