April 9 (UPI) -- The Dow Jones Industrial Average rose 285 points on Thursday as the markets continued their weeklong upswing amid increased optimism about economic recovery from the effects of the COVID-19 outbreak.
The Dow rose 1.22 percent, the S&P 500 climbed 1.45 percent and the Nasdaq Composite increased 0.77 percent to end the week of trading as markets will remain closed in observance of Good Friday.
Stocks received a boost from $2.3 trillion worth of measures detailed by the Federal Reserve Thursday to stabilize the economy amid the coronavirus emergency. It said small and mid-sized businesses are eligible for a $600 billion lending program to cover losses.
Earlier, the Labor Department reported 6.6 Americans filed for new unemployment benefits last week.
JPMorgan Chase stock rose 9 percent, Dow Inc. rose 5.12 percent and Goldman Sachs rose 4.19 percent to lead the Dow higher, while financials led the S&P's increase, gaining more than 5 percent.
The positive day for the markets also came after Treasury Secretary Steven Mnuchin told CNBC that the U.S. economy could re-open in May, provided President Donald Trump "feels comfortable with the medical issues" in regards to the coronavirus.
Wall Street is on track for a historically positive week. The Dow closed up almost 800 points Wednesday and soared 1,600 points on Monday.
With Thursday's gains, the Dow has risen 27 percent from its closing low in March, but remains down 16.9 percent on the year.