NEW YORK - The Nasdaq jumped more than 1% on Friday , powered by strong earnings from some of the largest US companies, but the Dow and S&P finished with smaller gains as uncertainty about the government's next round of coronavirus aid kept economic worries on the radar.
"The results were just fabulous, just so strong," said Tim Ghriskey, Chief Investment Strategist at Inverness Counsel in New York."These are extremely profitable companies and they produce products that people want." "It seems like they are far apart and supposedly they are working at it and there is a lot of name calling and as usual there is a lot of bad blood between these two parties and they have to come to some compromise, clearly, but they are not there, that's for sure," said Ghriskey.
US deaths from Covid-19 appeared to be rising at their fastest rate since early June, and the Midwest looked like the current epicentre of the pandemic. For the week, the S&P gained 1.73%, the Dow shed 0.15% and the Nasdaq climbed 3.69%. For the month, the S&P rose 5.52%, the Dow advanced 2.39% and the Nasdaq rallied 6.83%.
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