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U.S. stocks rose on Friday and the S&P 500 and Nasdaq registered their biggest weekly percentage gains since July as optimism over more federal fiscal aid grew.

Talks were expected to continue on a COVID-19 stimulus package, even though U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed on Friday to reach agreement.

Mnuchin floated a new proposal Friday afternoon, but an aide for Pelosi said it lacked a broad plan to contain the pandemic.

Recent trading on Wall Street has been dictated by headlines on fiscal aid, with the three main indexes tumbling on Tuesday after U.S. President Donald Trump called off negotiations. He has since indicated he was willing to resume discussions.

The S&P 500 technology shares .SPLRCT rose 1.5%, and the sector gave the S&P 500 its biggest boost. The small-cap Russell 2000 index .RUT climbed 6.4% for the week, posting its biggest percentage gain since early June.

The Dow Jones Industrial Average .DJI rose 161.39 points, or 0.57%, to 28,586.9, the S&P 500 .SPX gained 30.31 points, or 0.88%, to 3,477.14 and the Nasdaq Composite .IXIC added 158.96 points, or 1.39%, to 11,579.94.

For the week, the S&P 500 rose 3.8% and the Nasdaq climbed 4.6%, their biggest weekly percentage gains since July. The Dow added 3.3%, its biggest weekly gain since August.

Reference: Reuters