Major US stock indices moved sharply higher with the flow of funds heading into the small-cap Russell 2000 leading the way with a gain of 3.86%. The gain was the largest for the index since April 9.The 3 major indices also closed higher with the:Dow industrial average up 846.24 points or 1.89%. That's the largest gain since May 12. The Dow industrial average closed at a record level.S&P index rose 96.74 points or 1.52% at 6466.91. That was its largest gain since May 27NASDAQ index rose by 1.88% per its largest one-day gain since August 4Looking at the components for the S&P, the consumer discretionary was the strongest gain of 3.19%. Low consumer Staples was the only sector with a decline. It fell -0.35%.Consumer Discretionary (S5COND): +3.19%Energy: +1.99%Communication services (S5TELS): +1.87%Materials (S5MATR): +1.70%Financials (SPF): +1.65%Industrials (S5INDU): +1.62%Real Estate (S5REAS): +1.62%Information Technology (S5INFT): +1.32%Health Care (S5HLTH): +0.82%Utilities (S5UTIL): +0.53%Consumer Staples (S5CONS): -0.35%For the trading week, the gain today in the NASDAQ could not erase the earlier losses for the week. Both the S&P and Dow industrial average did close in positive territory. The Russell 2000 was the biggest gainer for the week.:Dow industrial average rose 1.53%S&P index rose 0.27%NASDAQ index fell -0.58%Russell 2000 rose +3.298% This article was written by Greg Michalowski at investinglive.com.