S&P 500 Closes Best Week Since Early November

S&P 500 Closes Best Week Since Early November

S&P 500 Closes Best Week Since Early November – WSJ

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Stocks edge higher on investors’ anticipation of fresh stimulus spending and labor market’s recovery

Economists had predicted that U.S. employers added about 50,000 jobs last month.

Photo: Joe Raedle/Getty Images Updated Feb. 5, 2021 5:07 pm ET

U.S. shares rose Friday, with the S&P 500 notching its best week since November, as investors pivoted to focus on a possible new stimulus package and shook off some of the razzmatazz in individual stocks that marked the previous month of trading.

The Dow Jones Industrial Average gained 92.38 points, or 0.3%, to 31148.24. The S&P 500 climbed 15.09 points, or 0.4%, to 3886.83, setting a second consecutive record high. The benchmark rose 4.65% this week, its biggest one-week gain since the week ending Nov. 6.

The tech-heavy Nasdaq Composite rose 78.55 points, or 0.6%, to 13856.30. It also hit a record high and had its best week since Nov. 6.

The heavily traded stocks at the center of a social-media spectacle have lost some of their steam. GameStop rose $10.27, or 19%, to $63.77, after falling by 30% or more for three of the previous four trading days. It fell 80% for the week, but is still up nearly 240% for the year.

AMC Entertainment Holdings fell $0.26, or 3.7% to $6.83. Popular trading app Robinhood Markets removed the last of its trading limits on shares of both companies, according to its website.

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