Dow surges Monday, closing more than 1,600 points higher

The Dow Jones Industrial Average on Monday closed more than 1,600 points higher, while the S&P 500 and Nasdaq rose 7 percent and 7.3 percent respectively.

Monday's surge comes after the Dow, S&P and Nasdaq posted losses on Friday, falling overall last week.

There is some optimism that the coronavirus pandemic could be showing signs of relenting in some countries.

The most recent numbers from Johns Hopkins University showed about 28,200 new cases in the U.S. on a recent day, down from higher numbers during the three preceding days, though the president and health experts have been warning about tough days ahead.

The U.S. coronavirus death toll has now surpassed 10,000, with many of the fatalities occurring in New York, which has by far been the hardest-hit state. New York Gov. Andrew Cuomo on Monday said the state has had 4,758 deaths. 

Cuomo also said the number of deaths has been "effectively flat for two days" and that the "possible flattening of the curve is better than the increases that we have seen."

President Trump on Sunday said that the coming days will be "very difficult," but he also spoke about "light at the end of the tunnel." 

The president reiterated the need to reopen the country: "We have to get our country back," he said. "And I think it's gonna come back. And I hope it's gonna come back very quickly."

“Science is what’s going to drive the direction of the markets and economy,” Timothy Chubb, chief investment officer at Girard, a Univest Wealth Division said according to USA Today. “Seeing case growth flattening is a huge positive for investors.