Stocks Ended Higher, S&P and Nasdaq Posted New Records

U.S. stocks ended higher on Friday, with both the Nasdaq and S&P 500 closing at new records, powered by gains in technology and e-commerce stocks as well as financials. The Dow Jones Industrial Average rose 161.60 points, or 0.57%, to 28,653.87. The S&P 500 added 23.46 points, or 0.67%, to 3,508.01. The Nasdaq Composite gained 70.30 points, or 0.60%, to 11,695.63. For the week, the Dow rose 2.6%, the S&P 500 surged 3.3%, while the Nasdaq Composite notched a weekly gain of 3.4%.

Oil futures ended modestly lower Friday, but tallied a weekly gain a day after Hurricane Laura made landfall on the Gulf Coast as a Category 4 storm but refineries were spared from extensive damage. West Texas Intermediate crude for October delivery fell 7 cents, or 0.2%, to settle at $42.97 a barrel and saw a weekly climb of 1.5%. October Brent crude lost 4 cents, or 0.09%, at $45.05 a barrel and climbed by 1.6% for the week.