Nov. 6 (UPI) — Stocks were mostly flat at the close of markets Friday but finished up a strong week in reaction to jobs news and the growing likelihood of a presidential win for Joe Biden.
The Dow Jones Industrial Average closed at 28,323.40, a dip of 0.2%, while the S&P 500 fell 0.03% and the Nasdaq Composite rose 0.1%.
The major U.S. indexes, though, had their best weeks since April, with the Nasdaq jumping 9%, the S&P 500 up 7.3% and the Dow up 6.9%.
CNBC said the S&P 500 posted its biggest election week gain since 1932.
Friday’s tepid results ended a four-day winning street likely boosted by Biden’s performance at the polls, MarketWatch reported. He’s within 17 electoral votes of winning the 2020 presidential election against President Donald Trump.
“At least the market has a narrative: A Democrat president who doesn’t control the Senate, will be less combative on trade, but will be more limited where fiscal policy is concerned,” said Kit Juckes, a macro strategist at Société Générale.
