Dow Jones Industrial Average rises 553 points
The Dow gained 553.16 points, or 2.21%, to close at 25,548.27. The S&P 500 advanced 1.48% to 3,036.13. The Nasdaq Composite climbed 0.77% to 9,412.36. Bets on the economy reopening mounted once again, lifting stocks that benefit from it.
'A rotation we should get used to'
Stocks such as Gap, JPMorgan Chase and Citigroup all benefited from the rotation into potential reopening winners while the names that rose amid stricter stay-at-home measures declined. "This is a rotation that we should get used to," says one strategist. "It's not necessarily index positive when that mean reversion happens, but it's certainly much better to have this rally broaden out."
Amazon falls while banks rally
Amazon shares fell 0.47%. The SPDR S&P Bank ETFÂ gained about 7% and was on pace for its biggest one-week gain since April.
What happens next?
Weekly jobless claims data are set for release Thursday, along with the latest durable goods orders.
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