US STOCKS-Wall Street gains with stimulus hopes, positive updates on Trump's health

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Regeneron jumps as Trump receives its dual antibody
* Indexes up: Dow 1.3%, S&P 1.4%, Nasdaq 1.8%

(Updates to late afternoon)
By Caroline Valetkevitch
Oct 5 (Reuters) - U.S. stocks were up more than 1% in
afternoon trading Monday, recovering from declines in the
previous session as investors were optimistic about more fiscal
stimulus and mostly favorable updates on President Donald
Trump's coronavirus symptoms.
Indexes added slightly to gains after Trump tweeted in the
afternoon that he will be leaving the Walter Reed National
Military Medical Center at 6:30 p.m. (2230 GMT). He 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. "It seems like we're going to get something. I think both
sides need it for political reasons so the chances of getting
something is better now than it was," said Peter Cardillo, chief
market economist at Spartan Capital Securities in New York.
The Dow Jones Industrial Average .DJI rose 369.01 points,
or 1.33%, to 28,051.82, the S&P 500 .SPX gained 47.85 points,
or 1.43%, to 3,396.29 and the Nasdaq Composite .IXIC added
202.35 points, or 1.83%, to 11,277.37.
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. Advancing issues outnumbered declining ones on the NYSE by a
2.83-to-1 ratio; on Nasdaq, a 2.93-to-1 ratio favored advancers.
The S&P 500 posted 25 new 52-week highs and no new lows; the
Nasdaq Composite recorded 104 new highs and 11 new lows.