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Stocks Rise, Hoping to End Week on High Note

AAPL

Stocks rose on Friday to end a week that saw the broader market reach a record level. However, concerns over a new coronavirus stimulus bill kept the market's gains in check.

The Dow Jones Industrials gained 19.71 points to begin Friday's session at 27,759.44.

The S&P 500 eked forward 0.66 points at 3,386.17

The NASDAQ Composite tallied 20.01 points to 11,284.97.

Earlier this week, the S&P 500 broke above its late-February high and notched a fresh all-time high. The NASDAQ also hit a record on Thursday. The S&P 500 ended Thursday's session up 0.4% for the week while the tech-heavy NASDAQ was up over 2% week to date.

The lion's share of those gains has been driven by strong gains in Big Tech stocks. Apple is up nearly 3% this week and became the first publicly traded company in the U.S. to reach a market valuation of $2 trillion. Amazon and Alphabet have rallied over 4% this week and Microsoft is up 2.7% in that time.

House Speaker Nancy Pelosi told the media both sides need to reach a deal on a more comprehensive stimulus package as millions struggle with being furloughed and unemployed amid the coronavirus pandemic.

Pelosi's comments come as Democrats and Republicans have been at a stalemate over additional unemployment benefits that expired last month.

Democrats have indicated they want to reinstated the additional assistance at the original $600-per-week rate; Republicans have offered to extend the benefits at a lower rate.

Prices for the 10-Year Treasury were unchanged, keeping yields at Thursday's 0.65%.

Oil prices faded 60 cents at $42.22 U.S. a barrel.

Gold prices slid $9.20 to $1,937.30 U.S. an ounce.



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