The S&P 500 Index ended almost unchanged on Friday, despite once again approaching its all-time closing high, data on the US economy adding to uncertainty over the recovery.
Aggressive stimulus measures helped all three of Wall Streets’ major indices rebound from the coronavirus crash in March. The benchmark S&P 500 at one point on Friday rose 0.15% to 3,378.51 points but fell back to close slightly low.
On Wednesday and Thursday, the S&P 500 briefly traded above its record February 19 close at 3386.15 but lacked momentum on Friday.
Trump announces a new plan to help the US economy,
Reaching a near high would confirm, by a widely accepted definition, that the S&P 500 has entered a new bull market after hitting its pandemic low on March 23.Investors may also take a break from the market breakout, with too much uncertainty to keep them wary.
Retail sales in the United States grew less than expected last month and could slow further amid rising COVID-19 cases and a cut in unemployment benefits.The Dow Jones Industrial Average rose 0.12% to 27,931.02 units; the S&P 500 fell 0.02% to 3,372.85 units; and the Nasdaq Composite Index lost 0.21% to 11,019.30 units.
For the week, the S&P 500 was up 0.6%, the Dow Jones up 1.8% and the Nasdaq up 0.1%.The deadlock in negotiations between Democrats and the White House over more stimulus to support the economy is also in the spotlight.