The S&P index recorded five new 52-week highs and no new low, while the Nasdaq recorded 13 new highs and six new lows.
The programs aim to help businesses, households and state and local governments facing a cash crunch as large parts of the economy have been shut down.
Walt Disney Co jumped 6.7%, leading gains among Dow .DJI components, as the company said its Disney+ streaming service had attracted more than 50 million paid users globally.
US stock markets will be closed for Good Friday. While hopes are building that a plateau may be arriving for infections in several hotspots, it's not assured. The S&P 500 rose 1.4% Thursday, the same day the government announced 6.6 million Americans applied for unemployment benefits last week as layoffs sweep the nation.
In Europe, Germany's DAX jumped 2.8%, and France's CAC 40 rose 2.1%. S&P 500 e-minis were up 3.5 points or 0.13% and Nasdaq 100 e-minis were up 4 points or 0.05%.
Not helping sentiment were wild swings in the oil market, where prices rebounded in Asia after sliding on Tuesday to leave traders feeling dizzy.
The Dow was up more than 12.9% for the week after Thursday's open, putting the 30-stock average on pace for its biggest weekly gain since 1938.
It dampened what had been an ebullient day for markets worldwide, following up on Monday's 7% surge for the S&P 500 on encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas of the world.
"Investors are bracing themselves for a bad earnings season and are going to try to look for clues on what businesses will see more normalized operations", said Yung-Yu Ma, chief strategy officer at BMO Wealth Management in Portland.
"Risk assets continued to rally on the perception that the global economy will open up again quicker than expected", Stephen Innes of AxiCorp said in a commentary. The meeting, which was called by Saudi Arabia, comes after US President Donald Trump suggested that massive production cuts could be on the way and Saudi Arabia called for an "urgent" effort to restore "balance" to the oil market.
Oil prices gained 71 cents to $25.80 USA a barrel. And this cut could be to the tune of 20 million barrels per day.
Brent crude, the worldwide standard, gained $1.32 to $33.19. It gained 97 cents, or 3 percent, to $32.84 a barrel in London.
The dollar inched down to 108.75 yen from 108.80 yen Tuesday.
Rising US stocks on Wednesday had lifted the MSCI's index of global equities more than 2 percent despite pressure on European shares after euro zone finance ministers failed to agree on more support for their coronavirus-hit economies.
The yield on the 10-year Treasury yield rose to 0.67% from 0.58% late Friday.
More than 1.4 million cases of COVID-19 have been confirmed around the world, with more than 399,000 of them in the United States. More than 87,000 people have died from the virus, while over 317,000 have recovered, according to a tally by Johns Hopkins University.