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Weekly Comic: Covid-19 Vaccine Hopes, Fed Stimulus Lift S&P 500 Towards New Record

Published 15/08/2020, 09:42
Updated 15/08/2020, 09:44

By Jesse Cohen

Investing.com - Stocks on Wall Street ended flat on Friday, with the S&P 500 closing the week within striking distance of its February record highs thanks to optimism about an eventual COVID-19 vaccine and massive U.S. stimulus.

The S&P 500 declined less than 0.1% to finish at 3,372, while the Nasdaq Composite lost 0.21% to end the day at 11,019.

The Dow Jones Industrial Average meanwhile gained 34 points, or 0.12%, and settled at 27,931.

Wall Street’s major stock indexes all clinched weekly gains despite Friday’s muted trading action.

The S&P 500 added 0.64% for the week, its third straight weekly gain. The Dow advanced 1.8% this week - its second straight weekly gain. The techheavy Nasdaq lagged, climbing 0.1% this week.

At current levels, the benchmark S&P 500 index is now about 0.6% shy of its February 19 all-time high. The index has rallied nearly 54% from an intraday low set on March 23, when coronavirus-related lockdowns shocked the stock market.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

Latest comments

people who are buying at all time high will be the first to cry once the NASDAQ crashed to 6000 range... robonhood invester pls remember market is cyclical. someday it will come down when big whales book profit, and we will be sleeping.
people buying this market think that the economy is "healthy" when really it's all dependant on 5 big companies.... I can't wait to see the news in 3-4 weeks time.
The majority of the shares are well below the february maximum. If you take out the big 10 performers you will see the real status compared to maximum february. There is still a long way to go to reach that maximum for the majority of the stocks, not only for a few of them.
Too much optimism around. In my opinion, it would fall back.
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