Dow advances, S&P ekes out gain as vaccine timeline comes into focus

  • Dow advances, S&P ekes out gain as vaccine timeline comes into focus

Dow advances, S&P ekes out gain as vaccine timeline comes into focus

The S&P 500 was up 0.47 points, or 0.01 percent, to 3,483.81.

The S&P 500 closed up just a fraction of a point but still managed to post a modest gain for the week.

On the day, the DJIA jumped 112 points, or 0.39%, to 28,606.

The Dow Jones Industrial Average rose 76.52 points or 0.27 per cent at the open to 28,570.72.

The Dow is up 67.87 points, or 0.2%.

USA stocks opened higher on Friday as Pfizer said it could apply for emergency use of its Covid-19 vaccine candidate as early as November and data showed stronger-than-expected retail sales growth last month.

Stocks took a late stumble on Wall Street, erasing an early gain and leaving major indexes mixed on Friday.

Seven of the 11 primary S&P 500 sectors finished higher, with utilities up 1.08 percent, leading the advancers.

Major equity indexes in the U.S. opened sharply lower on Thursday as safe-haven flows continue to dominate financial markets.

The tech-laced NASDAQ Composite is slated for a 192 point rise to 11,906. The broader-based S&P 500 is tipped to open 4 points firmer at 3,487. United States retail sales came in stronger than expected, rising almost 2% month over month. Economists polled by MarketWatch had forecast a 1.2 percent increase.

"In addition, the preliminary results of the University of Michigan's consumer survey for October will also be worth watching", it added. "The test positivity rate has increased over the past month, but not by much, and the recent trend is steady", Shepherdson noted.