Stocks soared again Thursday as a massive coronavirus relief bill gets closer to passing Congress. Major indexes jumped more than 6%, bringing the S&P 500 up 17% since Monday. The astonishing rally came even as the massive scale of the downturn slamming the economy becomes more apparent. Nearly 3.3 million Americans applied for unemployment benefits last week, shattering the record set in 1982. The S&P 500 remains 22% below its February high and analysts expect more dire economic headlines in the days ahead. The rescue bill cleared the Senate late Wednesday and is headed for a House vote Friday.
The S&P 500 index rose 154.51 points, or 6.2%, to 2,630.07.
The Dow Jones Industrial Average rose 1,351.62 points, or 6.4%, to 22,552.17.
The Nasdaq rose 413.24 points, or 5.6%, to 7,797.54.
The Russell 2000 index of smaller company stocks rose 69.95 points, or 6.3%, to 1,180.32.
For the week:
The S&P 500 is up 325.15 points, or 14.1%.
The Dow is up 3,378.19 points, or 17.6%.
The Nasdaq is up 918.02 points, or 13.3%
The Russell 2000 is up 166.43 points, or 16.4%.
For the year:
The S&P 500 is down 600.71 points, or 18.6%.
The Dow is down 5,986.27 points, or 21%.
The Nasdaq is down 1,175.07 points, or 13.1%
The Russell 2000 is down 488.15 points, or 29.3%.