Earnings, Microsoft boost Wall Street despite stalemate in Congress on relief

Wall Street’s main indexes rose on Monday as Microsoft’s pursuit of TikTok’s U.S. operations and a clutch of upbeat quarterly earnings reports while shrugging off a congressional stalemate on new government relief measures.

A rally in tech-related stocks and historic stimulus have lifted the S&P 500 to within 4% of its peak, but faltering macroeconomic data and a gridlock on more government stimulus have made investors cautious again.

About 30 minutes into trading, the Dow Jones Industrial Average was up 0.8 percent at 26,645.78.