Wall Street Closed Higher on Hopes of Economic Recovery

US stocks rallied on Wednesday as investors looked for improved economic prospects in 2021 following the distribution of vaccines to prevent Covid-19 disease and hopes for more financial support.

The Dow Jones Industrial Average ended the trading session on Wall Street, up 73.89 points, or 0.24%, to 30,409.56 points, while the benchmark Standard & Poor’s 500 Index rose 5.00 points, or 0.13%, to close at 3,732.04 points.

The Nasdaq Composite Index closed up 19.78 points, or 0.15%, to 12,877.00.

Trading volumes have decreased and are expected to remain low in the last trading session of this year.

And the Standard & Poor’s 500 is about 16% higher than its level at the beginning of the year, as trillions of dollars have helped stimulate financial and monetary stimulus, and progress in developing the benchmark vaccines has risen by more than 66% from this year’s lowest close on March 23.

The Nasdaq index, which is weighed by technology stocks, is heading to record its best annual performance since 2009.