The Dow Jones Industrial Average reached all-time highs on Friday.
As investors rallied behind a successful economic reopening amid Covid-19, the Dow and the broader U.S. stock market ended the week on a positive note.
Among Wall Street’s major averages, the Dow Jones Industrial Average climbed 1.4% while the S&P 500 Index advanced 1.7%. The Nasdaq Composite increased 1.2%.
The Dow increased 1.2% for the week, the S&P 500 rose 1.6%, and the Nasdaq ended 0.6% lower.
On Friday, the CBOE VIX Volatility Index, commonly known as the VIX, declined 4.8% to settle at 18.86 on a scale of 1-100, where 20 represents the historical average. For the week, the “fear index” declined 10%.
As of Friday, 100 million doses of Covid-19 vaccinations used, and President Biden set a new target of 200 million doses within the first 100 days in his presidency.
According to economic data, building permits fell 3.8% last month, with construction permits declining by 3.4%. Orders for durable goods declined 1.1%. Nondefense Capital Goods Orders excluding aircraft declined 0.8%.
Additionally, initial jobless claims dropped to 684,400 from 727,000 last week.