Dow Jones’ US market index has gained about 8 per cent in 2017, the largest single-day gain in a year and a half.
The Dow Jones Industrial Average (DJIA) rose 801.09 points, or 1.9 per cent, to 16,098.63.
The S&P 500 index of stocks gained 49.15 points, OR 1.6 per cent.
The S&P 500’s annual gain this year is its largest ever.
Dow Jones has risen more than 600 points this year.
The benchmark S&O 500 has gained just 1.5 per cent this year, while the Nasdaq has gained 0.6 percentage points.
The market has also gained more than 10 per cent since the end of January, compared to the same time last year.
For the past year, investors have been encouraged by strong growth in Europe, a strong US recovery and continued global economic growth.
The Dow has surged more than 1,000 points since it started the year on March 15.
The Dow is up over 500 points in 2017 alone, and has reached new all-time highs more than twice as often this year as it has in any of the last five years.
In addition, the S&p 500 is up nearly 10 per -cent this year on the back of strong economic growth in China, the world’s second-largest economy.
The US and Europe have been hit particularly hard by a global recession, but the US has been in a recovery for much longer.
The S &p 500 and Nasdaq both have double-digit gains this year and have gained more on average than they have in any other year.
“We are well into a year where we are seeing a sustained gain in the US and other developed markets,” John Lydon, chief investment officer at investment firm Jefferies, told Business Insider.
“The US market has been on a pretty steady upward trajectory and we think that is still a fairly healthy position.”
The Dow has gained over 1,100 points this century, compared with 1,250 points in the last six decades.
It has also risen more in value than it has seen in over a century.
The US stock market is down about 25 per cent from its peak in the early 1980s.