Stocks closed broadly higher on Wall Street Tuesday, led by big gains in technology companies. The rally gave the S&P 500 its best gain since early August and drove the tech-heavy Nasdaq to a record high.
Traders were encouraged by a gain in China’s main stock index after the country took more steps to soften the financial blow of the recent virus outbreak. Bond prices fell, sending yields sharply higher.
The S&P 500 index rose 48.67 points, or 1.5%, to 3,297.59.
The Dow Jones Industrial Average climbed 407.82 points, or 1.4%, to 28,807.63.
The Nasdaq gained 194.57 points, or 2.1%, to 9,467.97, a record.
The Russell 2000 index of smaller company stocks picked up 24.56 points, or 1.5%, to 1,656.77.
For the week:
The S&P 500 is up 72.07 points, or 2.2%.
The Dow is up 551.60 points, or 2%.
The Nasdaq is up 317.04 points, or 3.5%.
The Russell 2000 is up 42.71 points, or 2.7%.
For the year:
The S&P 500 is up 66.81 points, or 2.1%.
The Dow is up 269.19 points, or 0.9%.
The Nasdaq is up 495.37 points, or 5.5%.
The Russell 2000 is down 11.70 points, or 0.7%.