By Jesse Cohen
Investing.com – After wrapping up its best quarter in decades, stocks on Wall Street started the third quarter with more gains as the economy tries to recover from the coronavirus pandemic.
The 3.3% increase this week, while 4% increased in the same time period. It was the biggest weekly gain for the Dow and S&P 500 since June 5.
Meanwhile, heavy tech rose 4.6% this week for its biggest weekly gain since May 8.
Strong weekly gains follow the best quarterly market performance in decades. The Dow ended the second quarter with a 17.8% gain, its biggest quarterly advance since 1987.
The S&P 500 posted its biggest single-quarter increase since 1998, up nearly 20%.
Meanwhile, the Nasdaq shot up 30.6% in the quarter, its best quarterly performance since 1999.
Shares have risen sharply in recent months, with the three benchmarks rising more than 40% from their lows set on March 23, when coronavirus-related locks shocked the stock market, like a flurry of stimulus from the Federal Reserve and the US government increased appetite risk.
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