Stocks End Volatile Week at Record High on Confidence in Economy

U.S. stocks set a new closing record Thursday, capping a holiday-shortened week with gains following encouraging reports about the economic risks posed by the omicron variant of Covid-19.

The S&P 500 climbed 0.6% to end at 4,725.79, eclipsing its all-time closing high reached Dec. 10. It posted three straight days of gains and increased 2.3% on the week, rebounding from a Monday selloff. Nine of the 11 sectors in the index rose on the day, led by gains in consumer discretionary, industrial and material stocks. The tech-heavy Nasdaq 100 advanced 0.8%. The blue-chip Dow Jones Industrial Average added 0.6%.