The Dow, Wall Street’s broadest stock indicator comprising mostly industrial stocks, closed up 297 points, or 0.9 percent, to 33,801, after hitting an all-time high at 33,807. It also rose 0.9 percent on the week, extending the cumulative gain of 0.3 percent in two prior weeks.
The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, settled up 30 points, or 0.7 percent, to 4,127, after a record high of 4,129. It rose 2.7 percent on the week, similar to the cumulative gain of the two prior weeks.
The technology-laden Nasdaq Composite Index finished up 71 points, or 0.5 percent, at 13,900. Nasdaq, which groups high-flying tech stocks such as Facebook, Apple, Amazon, Netflix and Google, rose 3.1 percent, after a 2.6 percent gain during the previous week.
Stocks have resumed their uptrend in recent weeks, responding to the Biden administration’s $1.9 trillion coronavirus relief package and proposed $2.3 trillion US infrastructure development program, which analysts say could lift the US economy faster than expected from the economic fallout of the ongoing global pandemic.