S&P 500 jumps more than 1%, capping off best week since 1974

By Around the Web

(CNBC) Stocks rose on Thursday, wrapping up big week of gains, after the Federal Reserve gave more details on how it will support the economy amid the coronavirus pandemic.

The S&P 500 gained 1.3% while the Dow Jones Industrial Average advanced 280 points, or 1.2%. The Nasdaq Composite traded 0.4% higher. The U.S. stock market will be closed Friday due to Good Friday.

The major averages were headed for strong weekly gains. The S&P 500 was up 11.9% week to date, putting it on pace for its best week since 2008. The Dow was up more than 12% for the week while the Nasdaq had rallied 10%.

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