Wall Street Recovers from Most Weekly Losses

The New York Stock Exchange (NYSE) finished higher on Friday, amid increased optimism among Wall Street investors about the recovery from the impacts of the coronavirus pandemic, signaled by positive economic data.

However, today’s gains did not erase weekly losses, which resulted from concerns about a new wave of the pandemic and media reports about an increase in capital gains by the Biden administration.

The Dow Jones Industrial Average finished higher by 227.59 points, or 0.67%, to close at 34,043.49 points, recording a weekly decline of 0.5%.

Meanwhile, the S&P 500 index rose by 45.19 points, or 1.09%, finishing at 4,180.17 points, losing 0.1% for the week.

The Nasdaq Composite Index ended the week at 14,016.81 points, rising on Friday by 198.40 points, or 1.44%, but losing 0.3% on a weekly basis.