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.