US STOCKS-Wall St hits record high after Trump signs fiscal aid bill

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* Economy-linked sectors lead early market gains
* Tesla rises on report of India entry next year
* Indexes up: Dow and S&P 0.7%, Nasdaq 0.6%

(Updates to market open)
By Devik Jain and Supriya R
Dec 28 (Reuters) - Wall Street's main indexes hit record
highs on Monday as President Donald Trump's signing of a
long-awaited $2.3 trillion pandemic aid bill bolstered bets on
an economic recovery and drove gains in financial and energy
stocks.
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. "Trump signing the COVID relief and government spending bill
has gotten uncertainty out of the way, and the market right now
is on autopilot - creeping its way higher into the new year,"
said Sam Stovall, chief investment strategist at CFRA Research.
All the 11 major S&P sectors were higher, with financial
.SPSY , energy .SPNY and industrials .SPLRCI among the
biggest gainers.
The S&P 1500 airlines index .SPCOMAIR added 2.2% 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 3.3% and 4.3%.
Trading volumes are expected to be thin in the final week of
the year that has historically been a seasonally strong period
for equities. 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.
At 09:51 a.m. ET, the Dow Jones Industrial Average .DJI
rose 204.85 points, or 0.68%, to 30,404.72, the S&P 500 .SPX
gained 25.82 points, or 0.70%, to 3,728.88 and the Nasdaq
Composite .IXIC gained 81.25 points, or 0.63%, to 12,885.98.
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 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 2% after a report that the
electric-car maker will start operations in India early next
year. Advancing issues outnumbered decliners by a 2.9-to-1 ratio
on the NYSE and by a 2.1-to-1 ratio on the Nasdaq.
The S&P 500 posted 23 new 52-week highs and no new lows,
while the Nasdaq recorded 308 new highs and nine new lows.