The US stock market closed the week at record highs

The US stock market closed the week at record highs

The US stock market closed the week at another record highs. Traders interpreted the unfavorable news of job creation as a sign that Congress would eventually act and provide further assistance to the pandemic-affected economy. "Overall, the report encourages lawmakers to take additional fiscal stimulus measures to overcome production downtime before the vaccine is deployed," said Charlie Ripley of Allianz Investment Management. The gains of shares of technology, healthcare and energy companies outweighed the losses of companies that rely on consumer spending. Among the companies that did best were energy companies, as oil prices once again moved away from the bottom, which fell in the spring after a collapse in demand. Shares of Diamondback Energy rose 12.7 percent and Occidental Petroleum gained 13.4 percent. The S&P 500 rose 0.9 percent to 3,699.12 points, the third record high of the week. The Dow Jones, Nasdaq and Russell 2000 indices also rose to record levels. The industrial Dow Jones strengthened by 0.8 percent to 30,218.26 points and the technological Nasdaq improved by 0.7 percent to 12,464.23 points. The shares of smaller companies outperformed the overall market and the Russell 2000 index of smaller companies rose by 2.4 percent to 1,892.45 points.