Major stock indexes closed at new highs on Wall Street Friday, leaving the market with solid gains for the first week of the year.
Technology stocks and companies that rely on consumer spending helped lift the market, outweighing losses in financial, industrial and other sectors.
Investors largely shrugged off another discouraging jobs report amid expectations that the incoming Biden administration will pump more aid into the pandemic-ravaged economy.
The S&P 500 rose 20.89 points, or 0.5%, to 3,824.68.
The Dow Jones Industrial Average gained 56.84 points, or 0.2%, to 31,097.97.
The Nasdaq composite climbed 134.50 points, or 1%, to 13,201.98.
The Russell 2000 index of smaller companies dropped 5.23 points, or 0.3%, to 2,091.66.
For the week:
The S&P 500 rose 68.61 points, or 1.8%.
The Dow gained 491.49 points, or 1.6%.
The Nasdaq climbed 313.69 points, or 2.4%.
The Russell 2000 picked up 116.80 points, or 5.9%.
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