US closes higher to finish volatile week

Friday, 01. October 2021 22:00

Major equities in the United States closed higher on Friday ending a volatile trading week with Dow jumping nearly 600 points intraday. The focus was on COVID-19 recovery following Merck news that its drug helps reduce severe coronavirus cases by half. Meanwhile, the White House revealed that around 2 million people in the US have already received their Pfizer booster shot.

The data also instilled optimism as US personal expenditures beat expectations and rose by 0.8%, while consumer confidence increased by 3.6% on a monthly basis. Federal Reserve officials Loretta Mester and Neel Kashkari agreed that tapering of the bond-buying program will begin soon, likely in November.

The Dow closed with 1.43% in the green as Merck soared 8.37%, while S&P 500 gained 1.15% with CF Industries jumping 9.53%. The Nasdaq 100 ended the session 0.70% above flatline led by Marriott International increasing by 5.32%. The euro advanced by 0.15% against the dollar to exchange hands for $1.15959 at 3:56 pm ET.

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