Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy.
U.S. stocks began rising as soon as trading opened, and momentum picked up after the Fed said in the afternoon that it will keep interest rates at their record low as the economy struggles through the recession created by the coronavirus pandemic. Tech stocks again helped lead the way.
The S&P 500 gained 40.00 points, or 1.2%, to 3,258.44 .
The Dow Jones Industrial Average rose 160.29, or 0.6%, to 26,539.57.
The Nasdaq composite added 140.85, or 1.4%, to 10,542.94.
The Russell 2000 index of small company stocks jumped 30.87, or 2.1%, to 1,500.63.
For the week:
The S&P 500 is up 42.81 points, or 1.3%.
The Dow is up 69.68 points, or 0.3%.
The Nasdaq is up 179.77 points, or 1.7%
The Russell 2000 is up 33.07 points, or 2.3%.
For the year:
The S&P 500 is up 27.66 points, 0.9%.
The Dow is down 1,998.87 points, or 7%.
The Nasdaq is up 1,570.34 points, or 17.5%.
The Russell 2000 is down 167.84 points, or 10.1%.