It was a choppy week on Wall Street as investors weighed rising coronavirus cases, the upcoming presidential election, and uncertainty over another stimulus bill. Although stocks closed on a high note on Friday, the Dow and the S&P posted four-week losing streaks. But tech shares recovered some of their September declines, giving the NASDAQ its first weekly gain in four weeks. For the week, the Dow fell 1.75 percent to close at 27,173.96. The S&P lost 0.61 percent to finish at 3,298.46, and the NASDAQ gained 1.13 percent to end the week at 10,913.56
Stocks rose Friday. The Dow erased its losses for the year, and the NASDAQ and the S&P reached new record closes. July’s U.S. consumer spending encouraged investors, along with the Federal Reserve’s announced policy shift to allow inflation to run higher. For the week, the Dow rose 2.64 percent to close at 28,653.87. The S&P gained 3.29 percent to finish at 3,508.01, and the NASDAQ climbed 3.40 percent to end the week at 11,695.63.