U.S. stocks capped significant weekly gains on Thursday after the Federal Reserve made a surprise announcement that it would deploy $2.3 trillion of funds through its lending programs to support the broader economy. Equity exchanges will be closed tomorrow in observance of the Good Friday holiday. The S&P 500 SPX, +1.44% was up 1.4% to end at 2,790. The Dow Jones Industrial Average DJIA, +1.22% advanced 286 points, or 1.2%, to finish around 23,719, based on preliminary numbers.
The Nasdaq Composite COMP, +0.77% climbed 0.8% to finish around 8,154. For the week, the S&P is up 12.1%, the Dow is up 12.7%, and the Nasdaq is up 10.6%. Data showed another 6.6 million Americans claimed unemployment benefits in the latest week.
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