(CNBC) -- The Dow Jones Industrial Average rose to an all-time high on Wednesday, with investors optimistic about the prospects of additional fiscal stimulus as results from the runoff elections in Georgia rolled in.
The 30-Dow climbed 437.80 points, or 1.4%, to end the day at 30,829.40, a record. The Dow briefly rose more than 600 points earlier in the session and hit an intraday all-time high. The S&P 500 advanced 0.6% to 3,748.14 and hit an intraday record. The tech-heavy Nasdaq Composite closed lower by 0.6%.
Stocks closed off their highs, and the CBOE Volatility Index, a gauge of investor fear, moved higher heading into the close, as protestors stormed the Capitol just after lawmakers met to count the Electoral College votes and declare Joe Biden the presidential election winner. Still, the Dow and S&P 500 closed solidly higher on the day and Treasurys, normally a safety trade, declined.
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