Stocks closed broadly higher on Wall Street Tuesday as hopes for economic recovery overshadow worries over the coronavirus pandemic.
The S&P 500 jumped to a nearly 3-month high, recovering much of its post-pandemic losses. Financial and industrial stocks accounted for much of the market’s gains. Companies that rely on consumer spending also rose broadly.
Investors are shifting their focus to how various nations are adapting to getting back to business, while striving to keep new COVID-19 cases in check.
The S&P 500 rose 36.32 points, or 1.2%, to 2,991.77.
The Dow climbed 529.95 points, or 2.2%, to 24,995.11.
The Nasdaq composite gained 15.63 points, or 0.2%, to 9,340.22.
The Russell 2000 index of small companies picked up 37.54 points, or 2.8%, to 1,393.07.
For the year:
The S&P 500 is down 239.01 points, or 7.4%.
The Dow is down 3,543.33 points, or 12.4%.
The Nasdaq is up 367.61 points, or 4.1%
The Russell 2000 is down 275.39 points, or 16.5%.