Stocks closed higher on Wall Street Thursday, helped by strong company earnings as well as optimism that Washington can reach a deal for another round of fiscal stimulus for the millions of Americans who need it. The S&P 500 rose 1.1%, a record high. A measure of small-company stocks rose twice as much, a bullish signal that investors are feeling more optimistic about the economy. All three major U.S. indexes are on pace for weekly gains above 3%, an encouraging start to February after a late fade in January.
The S&P 500 rose 41.57 points, or 1.1%, to 3,871.74.
The Dow Jones Industrial Average rose 332.26 points, or 1.1%, to 31,055.86.
The Nasdaq rose 167.20 points, or 1.2%, to 13,777.74.
The Russell 2000 index of smaller companies rose 42.72 points, or 2%, to 2,202.42.
For the week:
The S&P 500 is up 157.50 points, or 4.2%.
The Dow is up 1,073.24 points, or 3.6%.
The Nasdaq is up 707.05 points, or 5.4%.
The Russell 2000 is up 128.78 points, or 6.2%.
For the year:
The S&P 500 is up 115.67 points, or 3.1%.
The Dow is up 449.38 points, or 1.5%.
The Nasdaq is up 889.46 points, or 6.9%.
The Russell 2000 is up 227.56 points, or 11.5%.