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Wall Street opens higher on recovery optimism, Dow up 1.21%

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Stocks are rising again on Wall Street Wednesday, and the S&P 500 is climbing toward its seventh gain in the last nine days.

The S&P 500 was up 0.7% after the first 10 minutes of trading, with travel companies, banks and other stocks that would benefit the most from a reopening economy leading the way.

It followed up on even stronger gains in Europe, where authorities proposed a 750 billion euro ($825 billion) recovery fund to help carry the region through the recession caused by the response to the coronavirus pandemic.

Asian stocks were mixed, though, as tensions between the United States and China over the independence of Hong Kong weighed on markets there.

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