Fed actions are appropriate given stress on the economy: Strategist

CNBC's Kelly Evans discusses how markets are trading with Brian Belski of BMO Capital Markets and Jason Trennert of Strategas Research Partners.

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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