Stocks closed broadly higher on Wednesday for a second day as worries continued to ease over Britain’s vote to leave the European Union.
The gains over Tuesday and Wednesday erased more than half of the losses U.S. markets suffered in the fallout from last week’s vote. European markets also posted solid gains and the pound edged up against the dollar following its plunge after the British vote last week.
The Dow Jones industrial average climbed 284.96 points, or 1.6 per cent, to 17,694.68.
The Standard & Poor’s 500 gained 34.68 points, or 1.7 per cent, to 2,070.77.
The Nasdaq composite added 87.38 points, or 1.9 per cent, to 4,779.25.
For the week:
The Dow is up 293.93 points, or 1.7 per cent.
The S&P 500 is up 33.36 points, or 1.6 per cent.
The Nasdaq is up 71.27 points, or 1.5 per cent.
For the year:
The Dow is up 269.65 points, or 1.6 per cent.
The S&P 500 is up 26.83 points, or 1.3 per cent.
The Nasdaq is down 228.16 points, or 4.6 per cent.