It was a choppy week on Wall Street as investors digested the ongoing oil crisis, manufacturing stress, staggering jobless claims, a new economic aid package and slowing coronavirus hospitalizations in New York and New Jersey. On Friday, oil prices clawed back some of their losses and stocks ended in the green. But stocks still slipped for the week. For the week, the Dow fell 1.90 percent to close at 23,775.27. The S&P lost 1.30 percent to finish at 2,836.74, and the NASDAQ dropped 0.18 percent to end at 8,634.52.
Despite massive unemployment reports, stocks rose sharply Friday amid discussions on reopening parts of the economy and hopes surrounding an experimental drug to treat COVID-19. Stocks were also up for the second week in a row. For the week, the Dow rose 2.24 percent to close at 24,242.49. The S&P gained 3.06 percent to finish at 2,874.56, and the NASDAQ climbed 6.09 percent to end the week at 8,650.14.
Stocks closed higher on the final trading day before the holiday weekend. Investors appeared to dismiss jobless numbers and focus on the Federal Reserve’s announcement of new measures to provide $2.3 trillion in additional aid to local governments and businesses crushed by widespread closures. The main indexes recovered around half the losses they suffered in late March. For the week, the Dow rose 10.82 percent to close at 23,719.37. The S&P gained 10.46 percent to finish at 2,789.82, and the NASDAQ climbed 8.90 percent to end the week at 8,153.58.
Stocks slid on the final day of another volatile week, amid dismal unemployment and a spike in coronavirus-related deaths in New York. Andrew Cuomo, governor of New York, reported over 100,000 cases and 2,900 deaths. For the week, the Dow fell 2.65 percent to close at 21,052.53. The S&P lost 2.02 percent to finish at 2,488.65, and the NASDAQ dropped 1.69 percent to end the week at 7,373.08.