All three major U.S. stock indexes closed at record highs Friday, as investors eyed the prospect of more financial aid from Washington to boost the economic recovery, while coronavirus cases are falling and vaccine distribution ramps up.
The Dow Jones Industrial Average rose 27.70 points, or 0.09%, to 31,458.40. The S&P 500 climbed 18.45 points, or 0.47%, to 3,934.83. The Nasdaq Composite gained 69.70 points, or 0.5%, to 14,095.47.
Stocks inched higher helped by optimism about another large fiscal stimulus package from Congress, as the coronavirus vaccination rollout picks up steam, and as quarterly corporate earnings reports impressed analysts.
A House committee on Thursday approved half of Biden's relief plan, advancing $1,400 payments to millions of Americans alongside other measures opposed by Republican lawmakers. Treasury Secretary Janet Yellen called for further fiscal support in a virtual meeting with G7 finance ministers and central bank governors.
President Joe Biden said Thursday his administration has secured deals for another 200 million doses of Covid-19 vaccine from Moderna and Pfizer, bringing the U.S. total to 600 million. He added the U.S. will have enough supply for 300 million Americans by end of July.
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