Stocks hit new highs as record streak continues

U.S. stock markets opened to new records Tuesday, continuing a February winning streak as investors look toward recovery from the COVID-19 pandemic.

The Dow Jones Industrial Average opened up 100 points, or 0.3 percent, and the S&P 500 rose 13 points, or 0.3 percent.

Increases in vaccine distribution in recent weeks and a steady drop in COVID-19 cases have bolstered confidence that the economy can bounce back from pandemic recession, the worst economic crisis since the Great Depression.

President BidenJoe BidenMcConnell doesn’t rule out getting involved in Republican primaries Perdue files paperwork to explore 2022 Senate run Hillicon Valley: Parler announces official relaunch | Google strikes news pay deal with major Australian media company | China central to GOP efforts to push back on Biden MORE‘s push for a $1.9 trillion relief plan is also adding to hopes of a quick recovery, though some critics are warning that the economy could overheat with such a large stimulus.

With former President TrumpDonald TrumpMichigan Democrat Dingell on violent rhetoric: ‘I’ve had men in front of my house with assault weapons’ McConnell doesn’t rule out getting involved in Republican primaries 75 percent of Republicans want Trump to play prominent role in GOP: poll MORE‘s impeachment trial complete, the Senate is now free to turn to legislative business, including confirming additional Biden nominees and advancing the stimulus package.

The House Budget Committee is set to receive legislative pieces of the stimulus bill from various committees Tuesday for compiling before advancing the legislation to the House floor.