Stocks closed broadly higher on Wall Street Friday as investors latched onto strands of hope about progress in the fight against the coronavirus.
Financial, industrial and technology stocks led the way as the S&P 500 soared to its first back-to-back weekly gains since the pandemic triggered a sell-off in February. Investors are focusing on the possibility of a reopening economy rather than dismal economic data.
The S&P 500 index rose 75.01 points, or 2.7%, to 2,874.56.
The Dow Jones Industrial Average gained 704.81, or 3%, to 24,242.49.
The Nasdaq climbed 117.78 points, or 1.4%, to 8,650.14.
The Russell 2000 index of smaller company stocks rose 51.01 points, or 4.3%, to 1,229.10.
For the week:
The S&P 500 gained 84.74 points, or 3%.
The Dow is added 523.12 points, or 2.2%.
The Nasdaq rose 496.57 points, or 6.1%
The Russell 2000 fell 17.63 points, or 1.4%.
For the year:
The S&P 500 is down 356.22 points, or 11%.
The Dow is down 4,295.95 points, or 15.1%.
The Nasdaq is down 322.46 points, or 3.6%
The Russell 2000 is down 439.37 points, or 26.3%.