Mumbai, March 17 -- The Nasdaq soared 451.07 points or 2.6% to 17,754.09, the S&P 500 surged 117.42 points or 2.1% to 5,638.94 and the Dow jumped 674.62 points or 1.7% to 41,488.19.

Positive sentiment may also have been generated in reaction to news the U.S. is likely to avoid a government shutdown after Senate Minority Leader Chuck Schumer, D-NY, said he would vote to advance a Republican spending bill funding the government through September. While Democrats oppose the bill, Schumer argued allowing President Donald Trump to "take even much more power via a government shutdown is a far worse option." Meanwhile, traders largely shrugged off a report from the University of Michigan showing a substantial deterioration in consumer sentiment...