(RTTNews) – Stocks moved mostly higher during trading on Friday, extending the upward move seen over the course of the two previous sessions. With the continued advanced, the major averages once again ended the session at their best closing levels in over a month.
The major averages all closed firmly positive, although the tech-heavy Nasdaq outperformed its counterparts. While the Nasdaq jumped 158.96 points or 1.4 percent to 11,579.94, the Dow climbed 161.39 points or 0.6 percent to 28,586.90 and the S&P 500 advanced 30.30 points or 0.9 percent to 3,477.13.
For the week, the Nasdaq soared by 4.6 percent, while the S&P 500 and the Dow surged up by 3.8 percent and 3.3 percent, respectively.
Continued optimism about a new stimulus bill contributed to the strength on Wall Street, as traders kept a close eye on the latest developments in Washington.
The major averages showed a notable move to the upside in late morning trading after President Donald Trump suggested he was once again in favor of a broad relief package.
“Covid Relief Negotiations are moving along. Go Big!” Trump tweeted before later telling Rush Limbaugh he would like to see a bigger stimulus package than either the Democrats or Republicans are offering.
Trump’s comments came amid reports that the White House was planning to offer a $1.8 trillion package, which is up from the administration’s previous $1.6 trillion proposal but still below the $2.2 trillion bill passed by House Democrats.
House Speaker Nancy Pelosi’s deputy chief of staff Drew Hammill later said Treasury Secretary Steven Mnuchin had “returned to the table with a proposal that attempted to address some of the concerns Democrats have.”
“Of special concern, is the absence of an agreement on a strategic plan to crush the virus,” Hammill tweeted. “For this and other provisions,