Dow, S&P 500 end Friday and week with losses as investors fret over lack of government support as COVID cases rise

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MARKET PULSE

Stock indexes finished the week with a whimper Friday, finishing lower as the market capped a choppy stretch of trade, framed by rising cases of coronavirus and worries above government support to help businesses and workers to end the week. The Dow Jones Industrial Average closed the day down by about 220 points, or 0.8%, the S&P 500 index closed the session down 0.7% lower, while the Nasdaq Composite Index closed off 0.4%. For the week, the Dow and the S&P 500 ended down 0.7%, and the Nasdaq finished the week up 0.4%. The U.S. Treasury’s decision to allow several emergency Federal Reserve programs to expire against the wishes of the Federal Reserve deflated some of the bullishness on Wall Street. However, stocks had been mostly punching higher on the 5-day trading period on the back of further upbeat vaccine news; but concerns about a spotty economic recovery as the viral outbreak assumes a new deadly phase has caused some selling and repositioning on Wall Street heading into the holidays.

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