U.S. equity markets surged Tuesday morning amid investor optimism that members of Congress will overcome their differences to reach a deal on a $1.6 trillion COVID-19 stimulus package.

The upbeat sentiments were boosted by comments from President Trump, who said he supports reopening businesses sooner rather than later.

“”I’d love to have the country opened up and raring to go by Easter.” Trump said on a virtual coronavirus town hall held by Fox News. The Dow Jones Industrial Average surged 1,770 points, or 9.5 percent, while the S&P 500 and Nasdaq Composite gained 8.6 percent and 7.4 percent, respectively.

The rally followed a plunge on the major averages Monday despite the Federal Reserve announcing it would buy unlimited amounts of assets to support the economy. Monday’s 3 percent drop left the Dow at a three-year low and on track for its worst month since September 1931, one of the earliest years of the Great Depression, according to the Dow Jones Market Data Group.

Looking at stocks, airlines soared following a report from The Wall Street Journal that the companies are drawing up plans for a potential voluntary shutdown of domestic air travel.

Other travel-related names, including cruise operators and online booking sites rocked by fallout from the virus, also saw big gains.

Elsewhere, banks rallied as selling of U.S. Treasurys swung the yield curve steeper. The 2-year yield climbed 9.8 basis points to 0.392 percent and the 10-year yield jumped 12.3 basis points to 0.89 percent.

General Motors said it would draw down $16 billion in credit and suspended its 2020 outlook. Intel shares rose after the chipmaker said it was suspending its buyback program due to uncertainty caused by COVID-19.

Dina Amelia Kalmeta is the Founder and CEO of Your New Life in Christ Ministries - CWW7NEWS. Dina reports on world events as they pertain to Bible Prophecy. Before Your New Life in Christ Ministries, Dina served as a Leader for INCHRIST NETWORK leading teams online and spreading the Gospel of Jesus Christ. Her mission today is to bring hard evidence that what is taking place in the world isn't just coincidence, but indeed proof that the last days the Bible warned us about are upon us right now.