TOKYO โ The S&P 500 closed at a record high on Friday as optimism built among investors that a coming vaccine for the coronavirus will help end the shutdowns that have devastated the economy.
The S&P 500 added 48.14 points, or 1.4%, to 3,585.15, rising above the index's previous closing record of 3,580.84 set back in early September.
The S&P 500 ended the week up 2.2%.
Stocks in the S&P 500 energy sector rose more than 16% this week, while tech stocks were essentially flat.
โI still think the dust is kind of settling from that vaccine news as investors think about how to be positioned,โ he said.