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Small swings on Wall Street today, but the increase over the week was substantial. Stock Photography.
After a week of strong gains, movements in the New York Stock Exchange were small on Friday. While Democrat Joe Biden appeared to be headed for victory in the presidential election, statistics showed that unemployment in the United States fell to 6.9 percent in October, compared with 7.7 percent the previous month.
But the number of Americans getting sick with Covid-19 is rising sharply. Senate Leader Mitch McConnell, Republican, said after the unemployment report that Congress should launch a state stimulus package, primarily aimed at countering the effects of the pandemic.
The Dow Jones Industrial Average fell 0.2 percent, while both the Nasdaq Composite Index and the S&P 500 closed unchanged. Over the past week, the Dow Jones rose 6.9 percent, the Nasdaq 9.0 percent and the S&P 500 7.3 percent. Since April, the three leading Wall Street indices had not risen that much in a single week.
