Democracy Dies in Darkness

Late-session spurt lifts Dow above 25,000 for the first time since early March

The blue-chip index adds nearly 1,100 points over two days, while the S&P 500 moves above 3,000 for the first time since the pandemic took hold

By
May 27, 2020 at 5:37 p.m. EDT
New York Gov. Andrew M. Cuomo (D) looks over the floor of the New York Stock Exchange on Tuesday. (Colin Ziemer/New York Stock Exchange/AP)

Stocks rolled higher for the second day in a row as the economy continued its slow return to life amid hopes for more federal stimulus and scientific advances against the coronavirus.

The Dow Jones industrial average jumped 553.16 points, or 2.2 percent, in a late-session spurt to close above 25,000 for the first time since March 10. Financial stocks and beaten-up industrials helped power the blue chips — a comeback signaling confidence in the recovery — to a close of 25,548.27. Goldman Sachs, JPMorgan Chase and American Express all had big days.