More gains for stocks Friday gave the S&P 500 its fifth straight winning week
More gains for stocks Friday gave the S&P 500 its fifth straight winning week. That’s the longest weekly winning streak for the benchmark index since December, before the coronavirus pandemic swept the world and sent economies tumbling into recession.
The S&P 500 rose 0.7%, bringing its weekly gain to 3.3%. The Dow Jones Industrial Average clawed back to a small gain for 2020. The Nasdaq has left both those indexes in the dust with a jump of 30% so far this year, thanks to big gains for technology stocks.
A report on Friday showed that U.S. consumer spending grew more in July than economists expected.
The S&P 500 rose 23.46, or 0.7%, to 3,508.01.
The Dow Jones Industrial Average rallied 161.60, or 0.6%, to 28,653.87.
The Nasdaq composite climbed 70.30, or 0.6%, to 11,695.63.
The Russell 2000 index of small company stocks rose 13.78, or 0.9%, to 1,578.34.
For the week:
The S&P 500 is up 110.85 points, or 3.3%.
The Dow is up 723.54 points, or 2.6%.
The Nasdaq is up 383.83 points, or 3.4%.
The Russell 2000 is up 25.87 points, or 1.7%.
For the year:
The S&P 500 is up 277.23 points, or 8.6%.
The Dow is up 115.43 points, or 0.4%.
The Nasdaq is up 2,723.03 points, or 30.3%.
The Russell 2000 is down 90.13 points, or 5.4%.