US STOCKS-Wall Street gains as Trump to leave hospital, investors hope for stimulus

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* Trump to leave hospital later Monday
* Regeneron jumps as Trump receives its antibody treatment

(Updates to close)
By Caroline Valetkevitch
Oct 5 (Reuters) - U.S. stocks rose sharply on Monday,
recovering from declines in the previous session, as investors
viewed more fiscal stimulus as likely and after news President
Donald Trump will leave the hospital where he is being treated
for coronavirus.
Trump said he felt "really good" and will leave Walter Reed
National Military Medical Center at 6:30 p.m. (2230 GMT). Trump
has been at the hospital since late Friday.
Shares of Regeneron Pharmaceuticals Inc REGN.O jumped
after Trump's physician said he had been treated with
Regeneron's dual antibody treatment. 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.
White House Chief of Staff Mark 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. "The stimulus deal is still sitting there and there's still
communication going on ... It looks increasingly like
something's going to get done," said Jim Paulsen, chief
investment strategist at The Leuthold Group in Minneapolis.
Unofficially, the Dow Jones Industrial Average .DJI rose
460.47 points, or 1.66%, to 28,143.28, the S&P 500 .SPX gained
59.32 points, or 1.77%, to 3,407.76 and the Nasdaq Composite
.IXIC added 255.26 points, or 2.3%, to 11,330.28.
Also helping the market was positive economic data.
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.