The Standard & Poor's 500 Index hit a record high at closing today, Friday, in light of positive business results that helped increase optimism about the economy as well as hopes for the success of Covid-19 vaccines, even as investors watched an increase in coronavirus cases and restrictions across the country, according to Reuters.
The Dow Jones Industrial Average rose 399.64 points, equivalent to 1.37 percent, to 29,479.81 points, and the Standard & Poor's 500 Index closed up 48.14 points, or 1.36 percent, to 3585 points, and the Nasdaq Composite Index rose 119 points, or 1.02 percent, to 11829.29 points. .
Positive data from the Pfizer vaccine study on Monday caused a jump that pushed S&P 500 to a weekly gain of 2.2 percent and gave Dow a weekly gain of 4 percent.
But the Nasdaq, which is a heavyweight in technology stocks, fell 0.6 percent on a weekly basis, as investors took profits in technology stocks that benefited from the home stalking conditions.
