Markets rally Friday but fail to make up lost ground for the week

A woman walks near the New York Stock Exchange in New York City on Monday. Photo by John Angelillo/UPI

April 25 (UPI) — The Dow Jones Industrial Average jumped 260 points Friday in an attempt to cut its overall losses for the week as oil futures inched higher.

The Dow closed up 1.1 percent Friday, but was down 1.9 percent for the week. The S&P 500 was up 1.4 percent on the day, but down by more than 1 percent for the week, and the Nasdaq Composite was up 1.7 percent Friday, but down 0.2 percent for the week.

Friday’s numbers were likely boosted by crude futures, which rose 2.7 percent to $16.94 per barrel, less than one week after oil prices sagged into the negative.

The Dow gained a few hundred points Thursday but gave them back following a Labor Department report that showed another 4.4 million Americans filed for new unemployment claims.

On Friday, President Donald Trump signed the fourth round of coronavirus aid at the White House. The measure, worth $486 billion was passed by the House and Senate this week.


Please enter your comment!
Please enter your name here