Stock-market benchmarks were mostly higher on Monday as investors monitored signs that a long awaited rotation on Wall Street into more growth-sensitive cyclical stocks could be brewing, at the expense of their high-growth counterparts.

Stocks scored gains last week, with the Dow advancing 3.8% to 27,433.48, and the S&P 500 posting a weekly rise of 2.5% to 3,351.28, The Nasdaq gained 2.5% to finish at 11,010.98.

Monday trading showed signs of a rotation away from high-growth stocks in the tech sector to more economically sensitive cyclical companies, a trend that has been brewing since the end of last week.

That could mean the recent move toward cyclical stocks is real and sustainable for the first time since the pandemic began,” said James Meyer, chief investment officer at Tower Bridge Advisors.

Still, investors say it’s unclear how far any nascent rally in cyclical companies might run, with the coronavirus still an obstacle weighing on the U.S.

Read: A ‘sharper cyclical rally’ could be in the cards, this analyst says.

After the White House and Democratic lawmakers failed last week to come to an agreement on a new round of coronavirus aid, Trump on Saturday signed executive orders that aim to pause the collection of payroll taxes, provide help on rent, assist with student-loan payments and extend a portion of additional unemployment benefits that had lapsed at the end of last month.

Specifically, one order authorizes states to pay $400 a week in additional unemployment benefits, with 75% of the funding coming from the federal government, versus the $600 in additional benefits that had expired at the end of July, which has been credited with helping borrowers and lenders, thus far, avoid a wave of consumer defaults.

politicians and heads of organizations promoting democratic causes, including additional measures targeting Senators Marco Rubio and Ted Cruz, who already were subject to a travel ban.

Earnings season also further winds down this week.

Through Friday, companies representing 89% of the S&P 500’s market cap had reported second-quarter results, according to Jonathan Golub, chief U.S.

In aggregate, 81% of the companies that have reported beat lowered projections.

Earnings Watch:Hot rookies and not-so-hot pot companies jump on the slowing earnings train this week.

Earnings have exceeded estimates by 23.2% in aggregate, with 81% of the reported companies beating their lowered projections during the pandemic.

In economic data, the number of job openings in the U.S.

finished 0.3% higher, after advancing 2% last week, and the FTSE 100

stocks from the March bottom has been remarkable, but most S&P 500 stocks are down for 2020

Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil

Before moving to New York, he reported for MarketWatch from Frankfurt, London and Washington, D.C

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