Stocks rallied again on Wall Street Wednesday, and the S&P 500 climbed back to where it was just one week after it set its all-time high earlier this year.
The S&P 500 rose for a fourth straight day and climbed back within 8% of its record set in February as lockdowns loosen around the world and raise hopes for a coming economic recovery. Treasury yields also strengthened in a sign of improved confidence after several reports suggested that while the U.S. economy is still getting pummeled, it may not be as bad as economists had feared.
The S&P 500 gained 42.05 points, or 1.4% to 3,122.87.
The Dow Jones Industrial Average rose 527.24 points, or 2%, to 26,269.89.
The Nasdaq composite added 74.54, or 0.8%, to 9.682.91.
The Russell 2000 index of small company stocks rose 33.88, or 2.4%, to 1,452.09.
For the week:
The S&P 500 is up 78.56 points, or 2.6%.
The Dow is up 886.78 points, or 3.5%.
The Nasdaq is up 193.04 points, or 2%
The Russell 2000 is up 58.05 points, or 4.2%.
For the year:
The S&P 500 is down 107.91 points, or 3.3%.
The Dow is down 2,268.55 points, or 7.9%.
The Nasdaq is up 710.31 points, or 7.9%
The Russell 2000 is down 216.38 points, or 13%.