Dow Posts Largest One-Day Point Gain Ever, Biggest Percentage Gain Since 1933, as Trump Mulls End to Shutdown

The Dow Jones Industrial Average surged by more than 11 percent on Tuesday as Donald Trump proposed an end to the shutdown, and Senators came close to reaching an agreement on the coronavirus stimulus bill. The rise marked the Dow’s biggest percentage gain since 1933.

It was a strong day for all major averages, as the Dow closed at 2,112.98 points higher while the S&P 500 surged more than 9 percent, reaching roughly 2,447, marking its best day since October 2008. The Nasdaq Composite also had an impressive surge, as it rallied roughly 8 percent to 7,417.86.

Tuesday’s gain came as both the Dow and S&P 500 were coming off their lowest levels since late 2016.

Investors were likely hopeful that U.S. lawmakers were close to settling on a stimulus bill meant to help the economy amid the coronavirus outbreak.

House Speaker Nancy Pelosi told CNBC’s Jim Cramer, “I think there is real optimism that we could get something done in the next few hours,” during an interview on Squawk on the Street on Tuesday.

Tuesday’s point gain followed a dark day for Wall Street, as Monday saw a 600 point plunge after the stimulus package failed to gain approval for the second time.