Investing.com — The Dow and Nasdaq staged a late-afternoon rally on Friday as investors shrugged off concerns about rising coronavirus cases across the U.S. to focus on Big Tech stocks.
The rose 114 points, or 0.44%, to close at 26,428. The rose 157 points, or 1.49%, to close at 10,745, while the rose 0.77%.
Apple (NASDAQ:) jumped more than 10% to reach a new record high of $425.04, while Amazon (NASDAQ:) rose nearly 4% and Facebook (NASDAQ:) rose 8.2%. All three reported better than expected results after the closing bell on Thursday.
The late rally overcame investor anxiety about the economic recovery, as rising coronavirus cases and new hotspots threatened to derail business reopening efforts. Frustrating many, lawmakers on Capitol Hill were still at an impasse on a fourth round of economic stimulus, including the fate of a $600 weekly pandemic unemployment program that expires Friday.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.