Dan Niles, Alphaone Capital Partners, joins "Closing Bell" to discuss why he believes this bear market rally will end soon and his thoughts on the state of the markets. Stocks rose sharply on Thursday, wrapping up a big week of gains, after the Federal Reserve detailed a bevy of programs to support the economy during the shutdowns from the coronavirus pandemic.
The S&P 500 gained 1.5% to close at 2,789.82 while the Dow Jones Industrial Average advanced 285.80 points, or 1.2%, to 23,719.37. The Nasdaq Composite closed 0.8% higher at 8,153.58. The U.S. stock market will be closed Friday due to Good Friday.
For the week, the S&P 500 surged 12.1%. That was its biggest one-week gain since 1974, when it rallied more than 14%. The Nasdaq had its best week since 2009, jumping 10.6%. The Dow soared more than 12% for one of its biggest weekly gains on record.
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