Nasdaq sets new record as stocks hold onto weekly gains

Fri, 22 Jan 2021 21:04:07 GMT


Stocks ended mixed on Friday, but managed to cling to weekly gains as investors eyed the economic impact of COVID-19 restrictions in Europe. The S&P 500 fell 0.3% to 3,841. The Dow Jones Industrial Average shed 179 points, or 0.6%, to 30,997, based on preliminary numbers. The Nasdaq Composite was up 0.1% to 13,543, setting a new closing record on Friday. For the week, the S&P 500 rose 1.9%, the Dow gained 0.6%, and the Nasdaq climbed 4.2%. Economic data from Europe reflected the continuing toll from the pandemic, raising concerns the eurozone could enter into another recession. Shares of Schlumberger Ltd. rose after the oil services company topped profit forecasts, and beat revenue expectations for the first time in four quarters.

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