Stocks closed broadly higher on Wall Street Wednesday amid fresh hopes for a COVID-19 vaccine.

Industrial, health care, financial and technology companies powered the gains, which extended a rally from a day earlier. Small-company stocks were big gainers. Bond yields were mostly higher.

Investors see a vaccine as the best way for the economy to mend and researchers said late Tuesday that one developed by the National Institutes of Health and Moderna revved up people’s immune systems in early testing, as hoped.

On Wednesday:

The S&P 500 rose 29.04 points, or 0.9%, to 3,226.56.

The Dow Jones Industrial Average gained 227.51 points, or 0.9%, to 26,870.10.

The Nasdaq Composite added 61.91 points, or 0.6%, to 10,550.49.

The Russell 2000 index of small company stocks picked up 50.01 points, or 3.5%, to 1,478.27.

For the week:

The S&P 500 is up 41.52 points, or 1.3%.

The Dow is up 794.80 points, or 3%.

The Nasdaq is down 66.95 points, or 0.6%

The Russell 2000 is up 55.59 points, or 3.9%.

For the year:

The S&P 500 is down 4.22 points, 0.1%.

The Dow is down 1,668.34 points, or 5.8%.

The Nasdaq is up 1,577.89 points, or 17.6%.

The Russell 2000 is down 190.20 points, or 11.4%.