US Stocks surge more than 2% for the first time since early March

US Stocks surged on Tuesday as optimism grew about the reopening of the economy and a potential coronavirus vaccine.

The S&P 500 rallied 2.2%, breaking above 3,000 for the first time since March 5. The Dow Jones Industrial Average rose around 600 points, or 2.4%. The 30-stock average also traded at levels not seen since early March, jumping above 25,000. The Nasdaq Composite advanced 1.6%.

The moves Tuesday followed a solid week for Wall Street that saw the 30-stock Dow rise 3.3%, posting its best weekly performance since April. The S&P 500 and Nasdaq also climbed more than 3% last week.

The S&P 500 entered Tuesday’s session up more than 34% from a March 23 low.