Stocks moved sharply higher early in the session on Wednesday and saw further upside as the day progressed. The major averages added to the gains posted during Tuesday's session, with the Nasdaq and S&P 500 reaching new record closing highs.
The major averages ended the day just off their highs of the session. The Nasdaq surged 512.82 points or 2 percent to 25,838.94, the S&P 500 shot up 105.90 points or 1.5 percent to 7,365.12 and the Dow jumped 612.34 points or 1.2 percent to 49,910.59.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.