Covid-19 Vaccine Hopes, Fed Stimulus Lift S&P 500 Towards New Record By

Covid-19 Vaccine Hopes, Fed Stimulus Lift S&P 500 Towards New

By Jesse Cohen – Stocks on Wall Street on Friday, with the S&P 500 closing the week within striking distance of its February record highs thanks to optimism about an eventual COVID-19 vaccine and massive U.S. stimulus.

The declined less than 0.1% to finish at 3,372, while the lost 0.21% to end the day at 11,019.

The meanwhile gained 34 points, or 0.12%, and settled at 27,931.

Wall Street’s major stock indexes all clinched weekly gains despite Friday’s muted trading action.

The S&P 500 added 0.64% for the week, its third straight weekly gain. The Dow advanced 1.8% this week – its second straight weekly gain. The techheavy Nasdaq lagged, climbing 0.1% this week.

At current levels, the benchmark S&P 500 index is now about 0.6% shy of its February 19 all-time high. The index has rallied nearly 54% from an intraday low set on March 23, when coronavirus-related lockdowns shocked the stock market.

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