Dow Jones Hits Record High On Trump Stimulus; Apple Nears New Buy Point, While

The Dow Jones Industrial Average briefly rallied over 300 points Monday to hit a record high after President Trump signed the coronavirus relief bill. Apple stock is approaching a new buy point, while Tesla is again nearing record highs. The price of Bitcoin briefly surged above $28,000.

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Among the Dow Jones leaders, Apple (AAPL) jumped 3.2%, while Microsoft (MSFT) moved up 0.3% in today’s stock market.

Tesla (TSLA) looked to extend a win streak to three sessions, advancing over 1% in early trade.

Stocks in or near buy zones in the current stock market rally are Generac (GNRC), Intuitive Surgical (ISRG) and Epam Systems (EPAM).

Apple, Generac, Microsoft and Tesla are all IBD Leaderboard stocks. Epam was Thursday’s IBD Stock Of The Day.

Dow Jones Today: Trump Signs Bill

On Monday, the Dow Jones Industrial Average rose 0.7%, while the S&P 500 traded up 0.9%. The tech-heavy Nasdaq composite rallied 0.8% in midday trade.

Late Sunday, President Donald Trump signed the $900 billion relief deal and $1.4 trillion omnibus spending package. Trump said, in a statement, that the Senate would “start the process for a vote that increases checks to $2,000.” The House already plans to vote on a measure to increase the direct payment.

Among exchange traded funds, Innovator IBD 50 (FFTY) traded 1.6% lower Monday. The Nasdaq 100-linked Invesco QQQ Trust ETF (QQQ) rallied 1%. Meanwhile, the SPDR S&P 500 ETF (SPY) moved up 0.8%.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 42.7% for the year through Thursday’s close. The S&P 500 is up 14.6%, while the DJIA is up 5.8% year to date.

Bitcoin Soars Above $28,000

Over the holiday weekend, the price of Bitcoin soared more than $4,700 to reach as high as $28,352 on Sunday before paring gains.

The price of Bitcoin traded around $27,200 early Monday, according to Coindesk.

Coronavirus Updates

According to the Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 19.5 million on Monday. Total virus-related deaths rose past 341,000.

The cumulative total of worldwide Covid-19 cases confirmed since the start of the outbreak topped 81.2 million Monday, with more than 1.77 million virus-related deaths.

Coronavirus Stock Market Rally

November was a key month for the stock market. IBD’s The Big Picture flagged a new uptrend following the market’s bullish follow-through day on Nov. 4. Meanwhile, December sees the stock market at record highs.

Thursday’s Big Picture commented, “The year proves that amid a once-in-a-century pandemic and extreme polarization in politics, the stock market can keep an upward bias. Knowing this gives you an…