Stocks surged on Wall Street Tuesday, sending the Dow Jones industrials to their best day since 1933 as Congress and the White House neared a deal to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
The Dow burst 11.4% higher, while the more closely followed S&P 500 index leapt 9.4% as a wave of buying around the world interrupted what has been a brutal month of nearly nonstop selling.
Despite the gains, investors were far from saying markets have hit bottom. Rallies nearly as big as this have punctuated the last few weeks, and none lasted more than a day.
The S&P 500 index rose 209.93 points, or 9.4%, to 2,447.33.
The Dow Jones Industrial Average rose 2,112.98 points, or 11.4%, to 20,704.91.
The Nasdaq rose 557.18 points, or 8.1, to 7,417.86.
The Russell 2000 index of smaller company stocks rose 94.12 points, or 9.4%, to 1,096.54.
For the week:
The S&P 500 is up 142.41 points, or 6.2%.
The Dow is up 1,530.93 points, or 8%.
The Nasdaq is up 538.34 points, or 7.8%
The Russell 2000 is up 82.65 points, or 8.2%.
For the year:
The S&P 500 is down 783.45 points, or 24.3%.
The Dow is down 7,833.53 points, or 27.5%.
The Nasdaq is down 1,554.75 points, or 17.33%
The Russell 2000 is down 571.93 points, or 34.3%.