Stimulus bets boost Wall St. ahead of busy earnings week

REUTERS: U.S. stocks rebounded on Monday as investors shrugged off surging COVID-19 cases and U.S.-China tensions, betting instead on more stimulus to revive a battered domestic economy ahead of a week packed with quarterly earnings reports.

Investors are also keeping a close watch on progress over the next round of government aid ahead of enhanced unemployment benefits set to expire on Friday. "I don't think we're going to see a slowdown in technology. There was some profit taking due to high valuations, but I don't see them going away anytime soon."

Investors will get the first glimpse of the second-quarter U.S. GDP report on Thursday, which is likely to show the economy contracted by a record 34.1per cent.

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