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 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:).
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