Stocks ended a downbeat week mixed as investors followed officials’ comments on the status of another stimulus bill. Although unemployment benefits provided by the CARES Act ended July 31, the White House and lawmakers have not been able to agree on a new package. For the week, the Dow lost 0.90 percent to close at 28,335.57. The S&P dropped 0.51 percent to finish at 3,465.39, and the NASDAQ fell 1.06 percent to end the week at 11,548.28.
Stocks were mixed on the final day of a volatile week. Encouraging reports on retail sales and consumer confidence lifted the major indices. The NASDAQ posted its fourth weekly gain. The S&P and Dow snapped three-day losing streaks to achieve their third positive weeks. For the week, the Dow rose 0.07 percent to close at 28,606.31. The S&P gained 0.21 percent to finish at 3,483.81, and the NASDAQ climbed 0.79 percent to end the week at 11,671.56.
U.S. stocks rose Friday amid renewed optimism over another stimulus package because of talks between House Democrats and the Trump administration. The S&P and NASDAQ had their best week since early July; the Dow had its best weekly gain since August. For the week, the Dow rose 3.31 percent to close at 28,586.90. The S&P gained 3.89 percent to finish at 3,477.14, and the NASDAQ climbed 4.57 percent to end the week at 11,579.94.
On Friday, the markets reacted negatively to the news that President Trump tested positive for the coronavirus, adding more uncertainty to the upcoming election. The major indices recovered some of the day’s losses after House Speaker Nancy Pelosi’s encouraging remarks about a potential agreement for another stimulus bill. For the week, the Dow rose 1.88 percent to close at 27,682.81. The S&P gained 1.54 percent to finish at 3,348.42, and the NASDAQ climbed 1.50 percent to end at 11,075.02.