Stocks closed broadly higher on Wall Street Thursday, rounding out the best week for the benchmark S&P 500 index since 1974.
Investors welcomed a new effort by the Federal Reserve to support the economy through the coronavirus outbreak. The central bank announced programs to provide up to $2.3 trillion in loans to households, local governments and businesses. The move overshadowed a report that another 6.6 million people applied for unemployment benefits last week.
U.S. stock markets will be closed for Good Friday.
The S&P 500 index rose 39.84 points, or 1.4%, to 2,789.82.