Stocks rebounded sharply on Tuesday as Congress neared an agreement on a massive coronavirus stimulus deal, with the Dow jumping more than 11% in its biggest single-day rally since 1933 and its largest point gain ever.

The Dow Jones Industrial Average surged 11.37%, or 2113 points, to 20,705

The S&P 500 jumped 9.38%, or 210 points, to 2,447

The Nasdaq Composite jumped 8.12%, or 557 points, to 7418

🔦 Stocks are still far off their highs of just over a month ago, but the surge is an indicator that institutional investors have confidence that Congress will pass the stimulus bill and that it will be effective in combating economic collapse as the country closes down to stop the spread of the coronavirus.