S&P 500 jumps more than 1%, capping off its best week since 1974 [CNBC]
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MarketsS&P 500 jumps more than 1%, capping off its best week since 1974Published Wed, Apr 8 2020Updated Moments AgoFred Imbert@foimbertPippa Stevens@PippaStevens13VIDEO2:3402:34Dallas Mavericks owner Mark Cuban on coronavirus impact on the economyClosing BellStocks rose sharply on Thursday, wrapping up big week of gains, after the Federal Reserve gave more details on how it will support the economy amid the coronavirus pandemic.TheNasdaq CompositeFor the week, the S&P 500 surged 12.1%. That was its biggest one-week gain since 1974, when it rallied more than 14%. The Nasdaq had its best week since 2009, jumping 10.6%. The Dow soared more than 12% for one of its biggest weekly gains on record."It's been a strong week in equities and probably for good reason," said Terry Sandven, chief equity strategist at U.S. Bank Management. "Many stocks were widely considered to be in oversold, and then you've got policy assistance that's in motion at the Fed and in fiscal policy.""That's clearly he
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