On Friday, after a session cut short because of the Thanksgiving, the New York Stock Exchange ended cautiously positive. New all-time highs were set by the Nasdaq and the S&P 500, while the Dow Jones ended very close to its last high reached on Tuesday. The week ended with a 2 to 3 percent turnaround in major indices, helped by the promise of vaccinations for Covid-19 and the political change that Donald Trump eventually embraced, albeit with bad grace. Investors are now hoping that in the face of worsening health situations, the Fed and Congress will take new steps to help the U.S. economy, awaiting the positive effects of the Covid-19 vaccines.
At the close, after a brief passage above 30,000 points in the session (30,015 points), the Dow Jones advanced by 0.13 percent to 29,910 points on Friday. The large S&P 500 index rose 0.24 percent to 3,638 points, finishing at 3 points above its last record on Tuesday. The Nasdaq Composite gained 0.92 percent to 12,205 points, which is rich in technology and biotech stocks, marking a second straight high after Wednesday’s. The U.S. stock exchange was closed for Thanksgiving on Thursday and closed at 1 p.m. on Friday.
The Dow Jones gained 2.2 percent over the week as a whole, while the S&P 500 added 2.3% and the Nasdaq jumped 2.9%. The indexes have seen increases of 4.6 percent for the DJIA, 12.4 percent for the S&P 500, and 36 percent for the Nasdaq since the beginning of the year, despite the violent blow that caused them to lose about 20 percent during the first coronavirus wave in March-April. The catch-up of cyclical stocks took a step forward this week and investors have once again turned to sectors such as technology and online services, which in the short term will suffer less from the worsening health situation.