U.S. stocks ended higher Friday, with support attributed in part to optimism over a coronavirus treatment as investors attempt to gauge the threat to the economic outlook from a rise in COVID-19 cases. The Dow Jones Industrial Average (DJIA) rose 369.21 points, or 1.4%, to close at 26,075.30. On Thursday, the Dow fell 361.19 points, or 1.4%, to end at 25,706.09; the S&P 500 index lost 17.89 points, or 0.6%, to end at 3,152.05; and the tech-heavy Nasdaq Composite Index closed up 55.25 points, or 0.5%, at 10,547.75, marking its third record in a row and its 27th of 2020.
The Dow finished lower Wednesday, but the tech-heavy Nasdaq was vaulted to a fresh record close, giving the year’s second half a mixed start as investors focused on signs of economic recovery from the coronavirus crisis and a new Fed promise for clarity on the path of rates.
China denounces a move by the U.S. Commerce Department to expand its so-called entity list of Chinese firms, which are restricted from doing business with U.S. firms, for alleged human rights abuses in the Xinjian Uighur Autonomous region.