S&P 500 closes higher for a fourth day

(CNBC) — Stocks rose on Wednesday on the back of strong Disney earnings and coronavirus vaccine hopes as the broader market approached reached record levels set earlier this year.

The S&P 500 advanced 0.6% to 3,327.77 and the Nasdaq Composite climbed 0.4% to 10,998.40. The Nasdaq briefly broke above 11,000 for the first time and posted a six-day winning streak. The S&P 500 closed higher for a fourth straight day. The Dow Jones Industrial Average also posted a four-day winning streak, rallying 373.05 points, or 1.4%, to 27,201.52.

Monday’s gains put the S&P 500 about 2% below a record set on Feb. 19. The broader market index has rallied more than 50% since hitting an intraday low on March 23, led in large part by major tech stocks such as Facebook, Amazon, Netflix, Apple, Alphabet and Microsoft.

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