Dow Jones industrial averages hit a record high on Wednesday as the Dow Jones Index jumped above the 200-day moving average by a small margin.
The S&P 500 Index also rose, albeit by a smaller margin, after its worst week since the election.
The Dow Jones has reached its highest level in nearly three months and set a new record for the highest level of weekly gains since December.
The index closed above the day’s high for the second time in a row, rising by almost 1% to 1,865.75.
The market closed at its record close of 2,965.88, up 0.2% from its closing level of 2.867.
The gain in the Dow was driven by a rally in the energy sector, which saw the index close above its 20-day peak of 2247.65.
The average of weekly volume for the S&s 500 Index, which tracks the Dow, rose by almost 4% to 3,923.07.
The Nasdaq Composite Index also opened higher, hitting an all-time high of 6,834.06.
The rally in energy stocks is part of a broader rebound in the broader market.
In a sign of the strength of the economy, the government on Wednesday cut its forecast for GDP growth for the third straight quarter, to 2.7%.
That would leave the economy with a revised GDP of 2% this year and 3.3% in 2021.
The Federal Reserve on Wednesday also cut its inflation forecast to 2% for 2018 and 3% in 2019.
The U.S. stock market is expected to rebound on Wednesday and has already begun to climb.
The Standard & Poor’s 500 index ended up 0-1.
The broad Nasdaq composite index rose 0.1% to 4,766.71.
The Russell 2000 index of small-cap stocks ended down 0.4%.
The Nasd Index of the S.&.
Stock Market index of high-tech companies, which track technology stocks, ended down 1.6%.