Dow jumps 400 points, heads for biggest weekly gain since 1938
The Dow Jones Industrial Average rallied on Thursday, wrapping up its best week in more than 80 years, after the Federal Reserve gave more details on how it will support the economy amid the coronavirus pandemic.
The Dow jumped 422 points, or 1.8%. The S&P 500 gained 1.7% while the Nasdaq Composite advanced 0.8%. The U.S. stock market will be closed Friday due to Good Friday. Stocks came off their highs after Democrats in Congress blocked a Republican effort for unanimous support for $250 billion in small-business aid.
Thursday’s gains put the major averages on pace for strong weekly gains. Dow was up more than 13% for the week, putting it on pace for its biggest weekly gain since 1938. The S&P 500 was up 12.7% week to date, on pace for its best week since 1974. The Nasdaq had gained 10.5% and was headed …continued .
[Source: CNBC News]