Stocks surged on Wall Street in early trading Tuesday, driving the S&P 500 to its highest level in nearly three months, as hopes for economic recovery overshadow worries about the coronavirus pandemic.

The S&P 500 was up 1.8% to 3,007 points. It’s the first time the benchmark index has been above the 3,000-point mark since March 5, before the widespread business shutdowns aimed at slowing the spread of the outbreak sent the U.S. economy into a sharp skid.

The Dow Jones Industrial Average was up 558 points, or 2.3%, to 25,025. It’s the first time the Dow is above 25,000 points since March 10. The Nasdaq rose 1.3% and the Russell 2000 index of small companies gained 3.7%. Financials, technology and industrial stocks powered much of the early gains. Click here for full story