Stocks rose on Friday to end their best week in months as President Donald Trump signaled support for a bigger coronavirus aid package.
The Dow Jones Industrial Average closed 161.39 points higher, or 0.6%, at 28,586.90. The S&P 500 gained climbed 0.9% to 3,477.13. The Nasdaq Composite advanced 1.4% to close at 11,579.94.
Microsoft and Salesforce led the Dow higher, rising 2.5% and 2.2%, respectively. Consumer discretionary and tech were the best-performing S&P 500 sectors, advancing more than 1% each.
For the week, the Dow jumped 3.3% and posted its biggest one-week gain since August. The S&P 500 and Nasdaq were up 3.8% and 4.6%, respectively, for the week. Both benchmarks had their best weekly performance since early July.
Trump tweeted on Friday that “Covid Relief Negotiations are moving along. Go Big!”
CNBC’s Ylan Mui reported the administration has raised its offer for a new aid package to $1.8 trillion