Stocks rise on Wall Street as S&P 500 hits record high
NEW YORK (AP) — The S&P 500 is closing a shortened session at a record high Friday as investors continue to look forward to the distribution of a COVID-19 vaccine and relief for the economy.
The benchmark index rose 0.2%, led by gains in technology companies, and closed at an all-time high of 3,638.
Optimism about a vaccine persists even as one vaccine candidate suffered a setback and cases of coronavirus remain at elevated levels. Meanwhile, retailers were hoping that their slumping sales get a boost from shoppers on Black Friday but early indications are that store traffic was light.
The yield on the 10-year Treasury slipped to 0.85%.