Dow continues to recover, rises nearly 800 points

Traders have not been bullish during the pandemic.

The Dow Jones Industrial Average surged more than 779 points Wednesday, hitting its highest point in almost a month as Wall Street continues to recover ground it lost earlier in the coronavirus crisis.

At the close of trading, the Dow finished above 23,000 for the first time since March 13. The index has climbed more than 10% over the past week, and it picked up more than 3% on Wednesday.

The S&P 500 recovered more than 90 points, or about 3.4%, mirroring the Dow.

In recent days, the market has calmed down after swinging wildly earlier in the COVID-19 outbreak. Analysts have attempted to gauge how lasting the economic jolts created by the pandemic will prove to be.

The Dow has slipped by about 20% over the last two months.