US stocks post biggest weekly gain since early November 2020

The three major US stock indexes rose today with the support of technology shares, and US stocks recorded the largest weekly percentage gain since early November 2020, as Standard & Poor's added 6.2% while the Dow Jones rose 5.5% and Nasdaq gained 8.2%.

The White House said US President Joe Biden warned Chinese leader Xi Jinping during a phone call that there would be consequences if Beijing provided material support for Russia's invasion of Ukraine, and both sides stressed the need for a diplomatic solution to the crisis. The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93 points, the Standard & Poor's 500 Index rose 51.45 points, or 1.17%, to 4,463.12 points, and the Nasdaq Composite Index rose 279.06 points, or 2.05%, to 13,893.84 points.