By Jesse Cohen
The Dow Jones Industrial Average jumped 359 points, or 1.3%, to close at 27,173.
The S&P 500 rose 1.6% to 3,298, while the Nasdaq Composite surged 2.2% to settle at 10,913.
Despite Friday’s rally, both the Dow and S&P 500 suffered their fourth weekly loss in a row, their longest losing streak since August 2019. The Dow fell 1.8% on the week while the S&P 500 declined 0.6% over the same timeframe.
The Nasdaq meanwhile had its first weekly gain in four weeks, rising 1.1%.
U.S. stocks could face more volatility next week as President Donald Trump and Democratic nominee Joe Biden face off in their first debate ahead of the November 3 elections.
The debate – the first of three – will take place in Cleveland, Ohio on Tuesday from 9:00PM ET to 10:30PM ET.
Betting services currently view the race as almost a coin flip, though Biden currently has a modest lead in the polls.
Uncertainty related to the election, including the possibility of a delay in announcing a winner, has weighed on market sentiment in recent weeks, with the S&P 500 tumbling 10% from its record high earlier this month.
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