US stocks close higher on reopening optimism

4:05pm: US equities close higher  US stocks closed higher as investors grew optimistic about pandemic reopenings and how that positively impacts the economy. The Dow Jones Industrial Average jumped to an all-time high as rising optimism continued to encourage the rotation into cyclical stocks amid the passage of the $1.9 trillion stimulus bill. On the day, the DJIA rose 174 points, or 0.53%, to 32,953. The S&P 500 increased 0.65% to 3,968 and the tech-heavy Nasdaq jumped 1.05% to 13,459.  12.20pm: US stocks still mixed US benchmarks were mixed at lunch as the Dow Jones Industrial Average and S&P 500 eased back from record levels seen last week. The Dow Jones was down over 50 points at 32,728, while the broader-based S&P 500 slipped nearly six points at 3,937. The tech sector was up again though and the Nasdaq added around 15 points at 13,334. Last week, sentiment was higher as relatively new President Joe Biden signed off a US$1.9 trillion coronavirus (COVID-19) relief package while traders managed to brush off fears over rising bond yields. On Monday, bond yields were lower. The ten-year treasury note was down 3 basis points but nevertheless still near its highest levels in around a year. Chris Beauchamp, analyst at IG Index, looked ahead at the week and noted: "Some nervousness will persist ahead of the Fed meeting on Wednesday, given how concerned markets are about the path of Fed policy. "Central banks are in focus throughout the week really, BoE governor Bailey being the latest to attempt to downplay the inflation concerns that seem to lurk in all corners of the market." 11.10am: Proactive North America headlines: Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP) updates on progress of its DehydraTECH CBD studies to treat high blood pressure ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) (FRA:GMS1) says Oasis Digital Studios to offer AR-enhanced NFTs to the entertainment and lifestyle sectors through new partnership Blackrock Gold Corp (CVE:BRC) to change its name to better reflect the silver dominant nature of its flagship Tonopah West project in Nevada Tetra Bio-Pharma Inc's (TSE:TBP) (OTCQB:TBPMF) (FRA:JAM1) THC-based prescription drug completes Health Canada’s New Drug Submission screening phase Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) successfully deploys biggest venue bubble platform at the NCAA's Big West Conference Championship in Las Vegas District Metals Corp (CVE:DMX) (OTCMKTS:MKVNF) (FRA:DFPP) excited as it kicks off 5,000m drill program at Tomtebo property, Sweden American Resources Corp (NASDAQ:AREC) (NYSE:REX) (FRA:RX3) appoints long-time mining operator as president of American Carbon subsidiary Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) (FRA:87CA) hails drill results from Cliff Creek North zone at Lawyers project, which shows deep mineralization NetCents Technology Inc (CSE:NC) (FRA:26N) (OTCQB:NTTCF) says interest from its merchant base following its entry into the Non-Fungible Tokens space has exceeded all initial expectations The Parent Company (NEO:GRAM.U) (OTCQX:GRAMF) sees its FY2020 unaudited revenue surge 76% to US$188M as cannabis sales momentum builds 9.40am; Wall Street starts mixed Wall Street’s main indices started Monday’s session on a mixed footing, however, stocks were mostly higher as US stimulus cheques began to trickle into American bank accounts. In the early minutes of trading, the Dow Jones Industrial Average was up 0.4% at 32,910 while the S&P 500 climbed 0.09% at 3,946. The Nasdaq was the outlier as it was down 0.04% at 13,307. The sedate start came despite some upbeat data from the New York Fed's Empire State Manufacturing Survey, which rose to 17.4 in March from 12.5 in February, ahead of market expectations and the best reading for the index in eight months. Meanwhile, shares in electric car maker Tesla Inc (NASDAQ:TSLA) were down 0.3% at US$691.54 in early trading after a somewhat bizarre SEC filing proclaiming that Elon Musk had anointed himself as the company’s “Technoking”. 7:45am: Wall Street points higher The signing off last week on the US stimulus package by lawmakers has induced a sense of restrained optimism in US markets. Spread betting quotes indicate the Dow Jones Industrial Average will open 113 points higher at 32,892 while the broader-based S&P 500 is tipped to climb 9 points to 3,952. The Nasdaq 100, which unlike the other two indices lost ground on Friday, is expected to recover its mojo and advance 43 points to 12,980. “With the Nasdaq having suffered steep losses on Friday, futures point towards a positive start to the week for the recently hard-hit tech sector. The past week has shown how the rotation between value and growth is likely to be a volatile one, and while we are looking at a likely rebound in tech today, there is also a significant chance of another sharp move lower before long,” said Joshua Mahony, the senior market analyst at IG. The price of Bitcoin reached a record US$60,000 over the weekend but the cryptocurrency is down by just under 7% today as profit-takers move in, On the US macroeconomic front, the highlight is the Empire State manufacturing index, where analysts are expecting a reading of 14.5 for March, up from 12.1 in February. Four things to watch for on Monday: The earnings diary will start the week with numbers from healthcare savings firm Healthequity Inc (NASDAQ:HQY), hospitality software group PAR Technology Corp (NYSE:PAR) and wearable technology specialist Vuzix Corp (NASDAQ:VUZI) Shares in GenMark Diagnostics Inc (NASDAQ:GNMK) are likely to draw attention after the firm agreed to a US$1.8bn takeover deal with Swiss healthcare giant Roche Meanwhile, shares in Tesla Inc (NASDAQ:TSLA) could find themselves back in the news following more antics from billionaire boss Elon Musk, who in an SEC filing has declared himself “TechnoKing” of the company as well as his existing title of CEO Bitcoin could also be getting a look in after the cryptocurrency reached a record high of around US$61,500 over the weekend before falling back slightly