MTS Help Center

S&P 500 books record on strong jobs report, Pfizer COVID-19 pill cheer

The S&P 500 scored another record high on Friday and booked a week of solid gains following a strong U.S. jobs report and positive data for Pfizer's experimental pill against COVID-19.

The Labor Department report showed U.S. employment increased more than expected in October as the headwind from the surge in COVID-19 infections over the summer subsided.

According to preliminary data,

the S&P 500 (.SPX) gained 16.34 points, or 0.35%, to end at 4,696.40 points, while the Nasdaq Composite (.IXIC) gained 26.72 points, or 0.17%, to 15,967.02.

The Dow Jones Industrial Average (.DJI) rose 197.25 points, or 0.55%, to 36,321.48.

Pfizer announced Friday that its easy-to-administer Covid-19 pill, used in combination with a widely used HIV drug, cut the risk of hospitalization or death from the virus by 89% in high-risk adults.

European markets close slightly higher as traders digest Covid news, U.S. jobs data

European markets closed marginally higher on Friday as investors reacted to promising news on Pfizer’s Covid-19 pill and a strong U.S. jobs report.

The pan-European Stoxx 600 closed up by just 0.05% with most sectors finishing in the black.

Reference: CNBC, Reuters