Stocks surge to start week | Dimon says JPMorgan 'very valuable' | New high this year?

Stocks surged on continued progress toward a coronavirus vaccine and reopening the economy.

VIEW IN BROWSER | SUBSCRIBE TUE, MAY 26, 2020 EVENING BRIEF AS OF TUE, MAY 26, 2020 • 04:43 ET DJIA 24995.11 +2.17% +529.95 S&P 500 2991.77 +1.23% +36.32 NASDAQ 9340.22 +0.17% +15.63   Most Active DOW NAME LAST CHG %CHG JPM 95.82 +6.35 +7.10% MSFT 181.57 -1.94 -1.06% AAPL 316.73 -2.16 -0.68% S&P 500 NAME LAST CHG %CHG GE 6.80 +0.39 +6.08% BAC 24.28 +1.62 +7.15% AAL 11.14 +1.44 +14.85% NASDAQ NAME LAST CHG %CHG AAL 11.14 +1.44 +14.85% UAL 29.54 +4.14 +16.30% AMD 53.19 -1.98 -3.59% EDITOR'S NOTE The market surged on Tuesday as investors continued to predict success in reopening the economy and developing a Covid-19 vaccine.   The S&P 500 and Dow Jones Industrial Average briefly crossed psychologically important barriers of 3,000 on the S&P and 25,000 on the Dow before closing slightly below those milestones.   Most significantly, the S&P briefly eclipsed its 200-day moving average - a technical signal that historically has drawn more investors into the market, writes CNBC's Patti Domm.   Investors will be watching this week whether the market can take back those key milestones and stay above them. Investors appeared emboldened by yet another positive headline in the race to develop a coronavirus cure, with Novavax announcing a human study of its experimental vaccine.   Another positive sign for the market was an unexpected improvement in consumer confidence. "The gradual re-opening of the economy helped improve consumers' spirits," said Lynn Franco of The Conference Board.   "The virus appears to be coming under control," wrote Bruce Bittles, chief investment strategist at Baird. "Lockdowns have been relaxed and we have not seen a resurgence in the virus."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow rallies 500 points as Wall Street cheers on the economy reopening, JPMorgan jumps Stocks briefly break through a major milestone that could signal a longer uptrend is ahead Jamie Dimon says JPMorgan is a 'very valuable company at these prices' Congress will 'probably' have to pass another coronavirus stimulus bill, Mitch McConnell says Track the latest coronavirus news here Here are 3 reasons why millennials are being hit especially hard economically by the coronavirus Merck in collaboration to develop coronavirus vaccine, with clinical trials to start this year Apple will open about 100 more stores in the U.S. this week, with focus on curbside service A full recap of all the market action today JPMorgan warns investors not to 'overstay welcome,' says market bounce will 'peter out' soon     TOP VIDEO NYSE President Stacey Cunningham on reopening part of trading floor to brokers   CNBC PRO These are the best picks in the market-beating biotech sector, according to Credit Suisse   SPECIAL REPORTS Discount retailers to report earnings, and chart analyst is watching two stocks Small caps outperform after recessions, so 'you have history on your side,' money manager says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS