U.S. stocks struggle for direction, but indexes on track for weekly gains

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U.S. stock indexes on track for weekly gains despite Friday’s lack of direction

U.S. stocks flipped between small gains and losses Friday, but major benchmarks remained on track for weekly gains after the S&P 500 index and Nasdaq Composite each logged a record finish in the previous session.

Support for equities remains tied to expectations Congress will approve another round of aid spending closer to President Joe Biden’s $1.9 trillion proposal, as well as optimism over the continued rollout of COVID-19 vaccines and the falling pace of new cases. Biden on Thursday said the U.S. will have enough COVID-19 vaccine by the end of the summer to inoculate 300 million Americans.

 

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