Stocks ended sharply higher Wednesday as the Dow gained 779 points, or 3.4%. The S&P 500 also added 3.4%, while the Nasdaq advanced 2.6%.
Some are claiming the investors chose to focus on the optimistic side of data about the coronavirus starting to turn the corner in the outbreak’s trajectory. Others are saying the drop out of Bernie Sanders from the presidential race is relieving some of Wall Street’s political concerns.
Crude prices also jumped, giving equities another lift. West Texas Intermediate futures rose 6.2% to settle at $25.09 per barrel.
Energy was among the best-performing sectors in the S&P 500, jumping more than 4%. The S&P has jumped nearly 23 per cent in the last and a half weeks.
Many analyst say they are skeptical of the rally given how much uncertainty still remains. But, the rumors and talk of the country reopening had optimism rising in the market today.