Stocks fell Friday, ending a volatile week of trading and marking the first weekly decline in four weeks. Negative factors included rising concerns of another tech bubble, escalated China-U.S. tensions, worse-than-expected jobless claims and a new coronavirus milestone. Known coronavirus cases surpassed 4 million in the U.S. For the week, the Dow fell 0.74 percent to close at 26,469.89. The S&P lost 0.27 percent to finish at 3,215.63, and the NASDAQ dropped 1.33 percent to end at 10,363.18.
Stocks were mixed Friday. Despite surging coronavirus cases, investors appeared relatively optimistic about potential vaccines for COVID-19 and a post-pandemic economic recovery. For the week, the Dow rose 2.32 percent to close at 26,671.95. The S&P gained 1.27 percent to finish at 3,224.73, and the NASDAQ fell 1.08 percent to end the week at 10,503.19.
Stocks rose Friday, and the NASDAQ reached a record high as investors weighed positive and negative headlines. U.S. coronavirus cases broke a record for a single day increase on Thursday while Gilead Sciences reported remdesivir, its experimental drug to treat the virus, significantly reduced fatalities. For the week, the Dow rose 0.98 percent to close at 26,075.30. The S&P gained 1.79 percent to finish at 3,185.04, and the NASDAQ climbed 4.02 percent to end the week at 10,617.44.
Stocks rose Thursday following an unexpectedly positive June jobs report. Nonfarm payrolls rose by 4.8 million from May’s 2.7 million, achieving the largest single-month increase in history. Encouraging news about Pfizer’s coronavirus vaccine trial also buoyed investors. For the week, the Dow rose 0.36 percent to close at 25,827.36. The S&P gained 1.55 percent to finish at 3,130.01, and the NASDAQ climbed 1.93 percent to end the week at 10,207.63.