U.S. Stocks Post Biggest Weekly Gains Since April: Markets Wrap

Yields rise after labor market improved more than forecast
Dollar trades at lowest level in more than two years

WATCH: Mohamed El-Erian says the market is “starting to live on its own”, driven by the belief that central banks will provide more help.Source: Bloomberg

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By Claire Ballentine and Vildana Hajric

November 5, 2020 at 10:05 PM UTC

Updated on

November 6, 2020 at 9:12 PM UTC

This article is for subscribers only.

U.S. stocks registered the biggest weekly increase since April with the labor market strengthening and Joe Biden on the verge of wining the presidential election.

The S&P 500 fell less than 0.05% in the wake of a four-day rally added more than $1.5 trillion to the value of stocks. The benchmark index climbed 7.3% this week. Technology again outperformed, with the Nasdaq 100 finishing green on Friday and up 9.4% this week. Hiring outpaced expectations in October, defying calls for a slowdown in the economy as the virus continues to spread at a record pace.