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S&P 500 Touches Further Record

Mohamed Abdelhamid 6 November, 2021 1:37 am Global Stock Market, Market Update

The S&P 500 Index as well as other major U. S. equity indices witnessed a strong end to a strong week. The S&P 500 clinched a seventh successive record session close at 4697 after briefly surpassing the 4700 level intraday.

The index ended the week up over 2.0% on the week, its best such run since June and is on course for five straight weeks in the green, the best round of weekly gains since August 2020.

Out of the last 18 sessions, the S&P 500 has only seen 2 negative days. The Nasdaq 100 rose 0.1% and the Dow gained 0.6%.

Positive U. S. labour market data infused markets with confidence in the strength of the US economic recovery, and positive news regarding a new, effective Covid-19 treatment were the two major news stories driving equities higher on Friday upon treatment under testing by Pfizer.

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