(ON WALL STREET) Stocks surged for a third straight day Thursday as investors shrugged off the release of record-breaking initial jobless claims while the Senate passed a massive economic stimulus bill amid the coronavirus outbreak.
The Dow Jones Industrial Average jumped more than 1,000 points, or 4.9%. The S&P 500 gained 4.8% while the Nasdaq Composite advanced 4.1%. Those gains put the Dow and S&P 500 on track for a three-day winning streak. They also put the Dow up about 20% over the past three days.
Boeing, Walgreens and Nike drove the Dow’s gains, with each stock rising more than 7%. Utilities and real estate were the best-performing sectors in the S&P 500, both trading more than 5% higher.