Wall Street Begins April On High As S&P500 Hits 4,000 Points First Time Ever

NEW YORK (UrduPoint News / Sputnik - 02nd April, 2021) Wall Street began trading in April on a high as the S&P500 index closed on Thursday above 4,000 points the first time ever, extending this week's rally in US stocks on expectations that the $2.3 trillion-dollar stimulus programs will fast-track economic recovery.

The S&P500, which groups the top 500 stocks on the New York Stock Exchange, closed up 47 points, or 1.2 percent, at a record high of 4,020 points. A day ago, the S&P finished March trading up 5.5 percent while gaining almost 6 percent for the first quarter.

The technology-laden Nasdaq Composite Index closed up 223 points, or 1.8 percent, at 13,480.

Nasdaq, which groups high-flying tech stocks such as Facebook, Apple, Amazon, Netflix and Google, rose 4.

1 percent for March and 2.8 percent for the first quarter.

The Dow Jones Industrial Average, Wall Street's broadest stock indicator comprising mostly industrial stocks, closed up 172 points, or 0.5 percent, at 33,153. For March, the Dow was up 6.7 percent, while for the first quarter, it rose 7.8 percent.

US stocks finished March and the quarter with a bang and continued their rally into April after President Joe Biden unveiled an infrastructure development program worth $2.3 trillion, on the heels of a $1.9 trillion coronavirus relief package passed by Congress.