US: Stocks finish mostly higher, posting solid weekly gains

Wall Street stocks finished mostly higher on Friday, concluding a positive week amid optimism about the reopening of the US economy and progress on a coronavirus vaccine.[NEW YORK] Wall Street stocks finished mostly higher on Friday, concluding a positive week amid optimism about the reopening of the US economy and progress on a coronavirus vaccine.

The tech-rich Nasdaq Composite Index led the market, gaining 0.4 per cent to finish at 9,324.59, an increase of more than 3.4 per cent for the week. The Dow Jones Industrial Average shed less than 0.1 per cent to 24,465.16, while the broad-based S&P 500 added 0.2 per cent at 2,955.45. Analysts pointed to a number of major announcements on investments and early research that has built confidence that the virus can be countered with a vaccine, even though the timeframe for getting one is not clear.

Investors have also greeted gradual steps by states to reopen their economies. On Friday, Texas expanded capacity at restaurants to 50 per cent from 25 per cent and opened bowling alleys, bingo halls and other venues.

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