The Dow broke above 25,000.
Stocks that would benefit from a reopening jumped again on Wednesday, including cruise operators such as Carnival and Norwegian Cruise Line, airlines like United and American, and retailers Gap and Kohl’s.
Economic data released Tuesday also helped boost market confidence: Consumer confidence jumped by more than expected to 86.6 this month, up from 85.7 in April, and new home sales last month also topped estimates.“The stock market is pricing in a faster than expected recovery,” according to Andrew Smith, chief investment strategist at Delos Capital Advisors.
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