Stocks closed higher on Wall Street Thursday as hope remains that Washington can approve more aid for the economy and after a report suggested the pace of layoffs is slowing a bit, though it remains incredibly high.
Banks, technology and communication companies accounted for much of the broad gains. Energy stocks notched the biggest gain as the price of U.S. crude oil climbed more than 3%.
The latest gains came a day after President Donald Trump apparently backtracked on his decision to halt talks on more aid for the economy. He said Thursday morning that “very productive” talks have begun.
The S&P 500 index rose 27.38 points, or 0.8%, to 3,446.83.
The Dow Jones Industrial Average gained 122.05 points, or 0.4%, to 28,425.51.
The Nasdaq composite picked up 56.38 points, or 0.5%, to 11,420.98.
The Russell 2000 index of small company stocks climbed 17.51 points, or 1.1%, to 1,628.55.
For the week:
The S&P 500 is up 98.39 points, or 2.9%.
The Dow is up 742.70 points, or 2.7%.
The Nasdaq is up 345.96 points, or 3.1%.
The Russell 2000 is up 89.25 points, or 5.8%.
For the year:
The S&P 500 is up 216.05 points, or 6.7%.
The Dow is down 112.93 points, or 0.4%.
The Nasdaq is up 2,448.37 points, or 27.3%.
The Russell 2000 is down 39.92 points, or 2.4%.