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S&P, Nasdaq close higher

Capital Market 

The Dow Jones Industrial Average closed 28.09 points lower, or 0.1%, to 28,335.57, the S&P 500 gained 11.9 points, or 0.34%, to 3,465.39 and the Nasdaq Composite added 42.28 points, or 0.37%, to 11,548.28.

The S&P 500 and Nasdaq closed modestly higher on Friday in choppy trading while the Dow ended lower on the day as investors weighed the potential for additional fiscal stimulus.

Intel shares fell 10.6% following the release of mixed quarterly numbers for the chipmaker. Gilead Sciences Inc rose as its antiviral drug remdesivir became the first and only drug approved for treating patients hospitalized with COVID-19 in the United States.

U.S. House Speaker Nancy Pelosi said it still was possible to get another round of COVID-19 aid before the November 3 election, but that it was up to President Donald Trump to act. Trump and Treasury Secretary Steven Mnuchin countered that Pelosi must compromise to get an aid package.

Trump and Democratic rival Joe Biden debated on Thursday for the last time to persuade the few remaining undecided voters 11 days before their contest, but while the debate was more toned down and substantive.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, October 24 2020. 10:35 IST
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