The S&P gained 1.5% and the Nasdaq climbed nearly 1%, closing above 12,000 points for the first time ever.
The Dow also finished higher, climbing to over 29,000 points for the first time since February. The index closed up 1.6%, or 455 points, and is now about 450 points below its February record high.
Investors are hopeful that more stimulus from Washington will keep the economic recovery going even as the rebound slows in some places.
The Federal Reserve’s Beige Book said as much, flagging that “continued uncertainty and volatility related to the pandemic, and its negative effect on consumer and business activity, was a theme echoed across the country.”
While that’s bad, it’s yet another reminder that interest rates will stay lower for a longer time.