The Dow Jones Industrial Average rose on Friday as Wall Street pushed for solid gains during the holiday-shortened trading week.
The Dow Jones Industrial Average rose 174 points, or 0.51%. The S&P 500 gained 0.06% and the Nasdaq Composite fell 0.36%, weighed down by Activision Blizzard shares, which fell more than 4% after news that The FTC could block Microsoft from taking over the gaming company.
Concerns about continued lockdowns in China kept markets under control. The country is tightening Covid restrictions after seeing a rising number of cases in recent days. Earlier in the week China reported its first Covid deaths since May.
Wall Street looks set to wrap up an upbeat holiday-shortened week after Federal ReserveThe latest minutes of the meeting added to expectations that monetary policy tightening may be delayed.
“A substantial majority of participants felt that slowing the rate of increase would probably soon be appropriate,” the minutes said.
Shares jumped on Wednesday’s news, marking a second straight day of gains in a week marked by choppy trading and low volumes. For the week, the Dow is up 1.85% and the S&P 500 is up 1.61%. The tech Nasdaq lagged the other two indexes, but was still up 0.85% for the week.
Markets were closed on Thursday for the Thanksgiving holiday and will close at 1:00 PM ET on Friday.
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