Dow Soars More Than 2000 Points, Best Day Since 1933

NEW YORK, NEW YORK - FEBRUARY 12: Traders work on the floor of the New York Stock Exchange (NYSE) on February 12, 2020 in New York City. The market closed up over 250 points as gains in tech companies and retailers outweighed concerns over the coronavirus. (Photo by Spencer Platt/Getty …
Photo by Spencer Platt/Getty Images

Stocks stormed upward on Tuesday as investors assessed that the likelihood of an economic rescue deal out of the nation’s capital had increased.

The Dow Jones Industrial Average rose by more than 2,112.98 points, or 9.69 percent. The S&P 500 climbed 9.38 percent. The Nasdaq Composite jumped 8.12 percent.

That was the best one-day gain for the Dow since 1933.

All 11 sectors of the S&P jumped higher. Energy was the best performing sector, rising 16.29 percent. After that, industrials and financials were the next best-performing sectors, rising by 12.94 percent and 12.84 percent respectively. The worst sector, consumer staples, rose by an otherwise impressive 4.29 percent.

The best performing Dow stocks were Chevron’s 22.5 percent gain, American Express with a 21.24 percent rise, and Boeing with a 19.6 percent gain. Verizon, the only Dow stock to fall, dropped 1.16 percent.

Investors bid up stock prices on the hopes that an economic rescue deal seemed close to being reached on Capitol Hill. Yet as of the market close on Tuesday, no definitive deal had yet been reached.

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