By Jesse Cohen
Investing.com – Stocks fell on Friday to wrap up a losing week, but Wall Street’s major indexes stayed near their recent record highs amid ongoing optimism over Covid-19 vaccine progress.
The declined 0.1% to end the day at 3,683, the shed 0.2% to settle at 12,377, while the small-cap dipped 0.6% to finish the session at 1,910.
The meanwhile eked out a gain of 47 points, or 0.2%, to end at 30,046.
Both the Dow and S&P 500 posted their first weekly declines in three weeks, losing 0.6% and 1%, respectively. The tech-heavy Nasdaq suffered a loss of 0.7% over that time frame, however the Russell 2000 scored its sixth straight weekly gain, rising 1%.
Investors will be watching fresh vaccine developments in the week ahead.
The U.S. Food and Drug Administration on Friday granted an emergency use authorization of Pfizer (NYSE:)’s , developed with German partner BioNTech (NASDAQ:).
The U.S. government has said it will begin distributing the vaccine around the country , with the first inoculations expected within days.
Markets will also be paying close attention to the outcome of the ’s all-important policy meeting on Wednesday, with market experts split on whether it will tweak its $80 billion monthly bond-buying program.
There is also key November data, as well as the latest batch of Markit and due in the week ahead.
Meanwhile, in earnings, there are just a few notable companies reporting their latest financial results, including Nike (NYSE:), and FedEx (NYSE:).
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.