The Standard & Poor’s 500 Index hit another record high Friday, posting a week of solid gains after a strong US jobs report and positive data for Pfizer’s anti-Covid-19 experimental tablets.
The Labor Department report showed US employment increased more than expected in October as headwinds from the increase in COVID-19 infections abated during the summer.
The trial of Pfizer’s experimental anti-Covid-19 tablets was halted early after the drug was proven to reduce the chances of hospitalization or death for adults at risk of developing severe symptoms of corona by 89%, and Pfizer shares jumped.
According to preliminary data, the Standard & Poor’s 500 rose 16.34 points, or 0.35%, to close at 4696.40 points, while the Nasdaq Composite Index increased 26.72 points, or 0.17%, to 15967.02 points.
The Dow Jones Industrial Average rose 197.25 points, or 0.55%, to 36,321.48.