NYSE Records Strong Weekly Gains

The New York Stock Exchange (NYSE) closed the week on high gains before a three-day weekend, with investors growing optimistic about a potential vaccine for the coronavirus (COVID-19).

The Dow Jones Industrial Average closed higher by 0.36% to 25,827.36, while S&P 500 gained 0.45% to settle at 3,130, and the NASDAQ Composite increased by 0.52% to 10,207.6.

Stocks were supported by a positive economic data, after the US Non-Farm Payrolls (NFP) report, released earlier by the United States Bureau of Labor Statistics, showed an increase of 4.8 million jobs in June, beating market forecasts.

Data by the US Commerce Department indicated that new factory orders in the United States increased during May by 8% on a monthly basis.