S&P 500 rallies, closes just shy of its record closing high
Stocks rose sharply on Wednesday, putting the S&P 500 just below its all-time high set in February, as shares of the major tech companies recovered some of their steep losses from the previous session.
The S&P 500 gained 1.4%, its biggest one-day jump since July 6, to close at 3,380.35. In the final hour of trading, the broader market index briefly traded above its record closing high of 3,386.15. The index also ended the session just 0.4% shy of its intraday all-time high of 3,393.52
The Dow Jones Industrial Average jumped 289.93 points, or 1.1%, to close at 27,976.84. The Nasdaq Composite outperformed, rallying 2.1% to 11,012.24.
Traders seemed to shrug off uncertainty over a second coronavirus stimulus bill. On Wednesday, House Speaker Nancy Pelosi said both sides were still “miles apart” on relief negotiations.
Reference: CNBC
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