Stocks Posted Weekly Advances, Nasdaq Hit Another Record High

U.S. stocks ended higher on Friday and post weekly advances, with the Nasdaq Composite hit another record high, as coronavirus treatment fueled risk rally. The Dow Jones Industrial Average rose 369.21 points, or 1.44%, to 26,075.30. The S&P 500 advanced 32.99 points, or 1.05%, to 3,185.04. The Nasdaq Composite rose 69.69 points, or 0.66%, to 10,617.44. For the week, the Dow finished 1% higher, the S&P 500 booked a gain of 1.8%, and the Nasdaq advanced 4%.

Oil futures climbed on Friday, buoyed by positive results tied to a COVID-19 treatment. August West Texas Intermediate crude rose 93 cents, or about 2.4%, to settle at $40.55 a barrel. Brent oil for September added 89 cents, or 2.1%, at $43.24 a barrel. For the week, WTI saw a 0.3% weekly decline, while Brent’s Friday gain led to a weekly increase of 1%.