(CNBC) -- Stocks rose sharply on Wednesday on the back of better-than-expected economic data, which bolstered optimism over the recovery from coronavirus-led shutdowns.
The Dow Jones Industrial Average jumped 527.24 points, or 2.1%, to close at 26,269.89. The S&P 500 gained 1.4% to end the day at 3,122.87 while the Nasdaq Composite advanced 0.8% to 9,682.91. Wednesday’s gains led the Dow to a three-day winning streak while the S&P 500 notched its first four-day winning streak since early February.
The Nasdaq 100 index, which tracks the 100-largest nonfinancial companies in the Nasdaq Composite, rose 0.5% to close 0.3% below a record set on Feb. 19. The index has rallied more than 43% from an intraday low set on March 23. Those gains have been provided in large part by stocks that benefited from people staying at home due to the coronavirus. The Invesco QQQ Trust — which tracks the Nasdaq 100 — closed 0.5% higher.
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