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Wall Street made gains for the fourth session in a row on Friday, continuing a rally that pushed the three major U.S. stock indexes to record closing highs as positive trading results for companies and indications of a recovery in the economy have fueled investor appetite for risk.
The Dow Jones closed above 35,000 points for the first time, according to “Reuters”.
Growth and value stocks fluctuated up and down for most of the week, as market participants weighed in on the rise in infections with the delta strain of Covid-19, in exchange for strong business results for businesses and indications of economic recovery.
Traders are now looking to next week, when the Federal Reserve holds a monetary policy meeting and a series of results from large companies are released.
Investors will look at the Fed statement for hints on the timing of an accommodative tightening, although Fed Chairman Jerome Powell has reiterated that the economy still needs full central bank support.
The Dow Jones Industrial Average rose 238.2 points, or 0.68%, to 35,061.55 points, the Standard & Poor’s 500 index rose 44.31 points, or 1.01%, to 4,411.79 points, and the Nasdaq Composite Index added 152.39 points, or 1.04%, to 14,836.99 points.
Among the top 11 sectors of the Standard & Poor’s 500 index, all sectors closed higher except energy, while the telecommunications services sector recorded the largest gain, increasing by 2.7%.
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