Stocks closed broadly higher on Wall Street Wednesday amid fresh optimism among investors that the worst phase of economic damage from the coronavirus pandemic may be over
The Associated Press
May 7, 2020, 8:46 PM
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Stocks closed broadly higher on Wall Street Wednesday amid fresh optimism among investors that the worst phase of economic damage from the coronavirus pandemic may be over.
Technology and financial stocks powered much of the gains, the best in a week for the S&P 500 index and its third gain in four days.
Elsewhere, including the bond market, investors were still showing a great deal of caution after the government reported another 3.2 million U.S. workers applied for unemployment aid last week.
The S&P 500 rose 32.77 points, or 1.2%, to 2,881.19.
The Dow Jones Industrial Average gained 211.25 points, or 0.9%, to 23,875.89.
The Nasdaq climbed 125.27 points, or 1.4%, to 8,979.66.
The Russell 2000 index of small company stocks picked up 19.92 points, or 1.6%, to 1,282.93.
For the week:
The S&P 500 is up 50.48 points, or 1.8%.
The Dow is up 152.20 points, or 0.6%.
The Nasdaq is up 374.71 points, or 4.4%
The Russell 2000 is up 22.45 points, or 1.8%.
For the year:
The S&P 500 is down 349.59 points, or 10.8%.
The Dow is down 4,662.55 points, or 16.3%.
The Nasdaq is up 7.06 points, or 0.1%
The Russell 2000 is down 385.54 points, or 23.1%.
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