Stocks closed broadly higher on Wall Street Wednesday as investors focused on the optimistic side of data about the trajectory of the coronavirus.
The S&P 500 and Dow Jones Industrial Average climbed 3.4% amid signs that deaths and infections may be nearing a peak or plateau in some of the world's hardest-hit areas.
The rally is the latest about-face in this brutally volatile stretch for the U.S. stock market, which has flip-flopped between gains and losses for six straight days. The S&P 500 has jumped nearly 23% since it hit a low two and a half weeks ago.
The S&P 500 index rose 90.57 points, or 3.4%, to 2,749.98.
The Dow Jones Industrial Average gained 779.71 points, or 3.4%, to 23,433.57.
The Nasdaq climbed 203.64 points, or 2.6%, to 8,090.90.
The Russell 2000 index of smaller company stocks picked up 52.49 points, or 4.6%, to 1,191.66.
For the week:
The S&P 500 is up 261.33 points, or 10.5%.
The Dow is up 2,381.04 points, or 11.3%.
The Nasdaq is up 717.82 points, or 9.7%.
The Russell 2000 is up 139.61 points, or 13.3%.
For the year:
The S&P 500 is down 480.80 points, or 14.9%.
The Dow is down 5,104.87 points, or 17.9%.
The Nasdaq is down 881.70 points, or 9.8%
The Russell 2000 is down 476.81 points, or 28.6%.