Technology companies powered stocks solidly higher on Wall Street Tuesday as traders hoped that a meeting next week between President Donald Trump and President Xi Jinping of China will ease trade tensions between the two economic powers.
Markets also got a boost after the head of the European Central Bank said it was ready to cut interest rates and provide additional economic stimulus if necessary.
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The S&P 500 index climbed 28.08 points, or 1% to 2,917.75.
The Dow Jones Industrial Average gained 353.01 points, or 1.4%, to 26,465.54.
The Nasdaq composite jumped 108.86 points, or 1.4%, to 7,953.88.
The Russell 2000 index of smaller companies added 17.48 points, or 1.1%, to 1,550.23.
For the week:
The S&P 500 is up 30.77 points, or 1.1%.
The Dow is up 375.93 points, or 1.4%.
The Nasdaq is up 157.22 points, or 2%.
The Russell 2000 is up 27.73 points, or 1.8%.
For the year:
The S&P 500 is up 410.90 points, or 16.4%.
The Dow is up 3,138.08 points, or 13.5%.
The Nasdaq is up 1,318.61 points, or 19.9%.
The Russell 2000 is up 201.67 points, or 15%.