December 5, 2020
Wall Street closes on high
Wall Street closed out a solid week for stocks Friday with more record highs as traders took a discouraging jobs report as a sign that Congress will finally move to deliver more aid for the pandemic-stricken economy.
The S&P 500 rose 0.9 per cent, notching its third all-time high this week. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also closed at record highs.
The gains were broad, with about 81 per cent of the companies in the S&P 500 moving higher. Gains in technology, health care and energy stocks helped lift the market, outweighing losses in utilities and companies that rely on consumer spending. Treasury yields rose, a sign of growing confidence in the economic outlook.
