By Jesse Cohen
Investing.com – Stocks on Wall Street ended in positive territory on Friday, with the S&P 500 and Nasdaq closing at new record highs amid ongoing optimism over Covid-19 vaccine progress.
The S&P gained 0.3% to end the day at 3,638, notching an all-time closing high. The Nasdaq Composite also ended at a record high, rising 0.9% to 12,205.
Meanwhile, the Dow Jones Industrial Average rose 37 points, or 0.1%, to settle at 29,910. Earlier in the week, the Dow jumped to an all-time high, breaking above 30,000 for the first time ever.
For the week, the Dow and S&P 500 jumped 2.2% and 2.3%, respectively, while the tech-heavy Nasdaq scored a gain of 3% over that time frame.
Friday’s gains added to the market’s surge this month. The Dow is on pace for its biggest monthly gain since January 1987, up 12.9% in November. The S&P 500 and Nasdaq are up 11.3% and 11.9%, respectively.
The small-cap Russell 2000 is on track for its best month ever, up about 20%.
Investors will be watching fresh Covid-19 vaccine headlines as well as developments surrounding the pandemic in the week ahead, amid worries the record surge in cases will lead to further restrictions.
In earnings, there are just a few notable companies reporting their latest financial results as the third quarter earnings season winds down, including Zoom (NASDAQ:ZM) and Salesforce (NYSE:CRM).