NEW YORK -Global stock indexes eased and the dollar rose amid continued concerns over the timing of more US economic stimulus.
The S&P 500 and Nasdaq ended lower, while the Dow closed up slightly. All three indexes registered declines for the week.
Rising coronavirus deaths are causing fresh business restrictions in many US states and increasing layoffs, making investors anxious to hear whether more fiscal relief is coming.
House of Representatives Speaker Nancy Pelosi on Thursday raised the possibility of stimulus negotiations dragging on through Christmas.
“Investors are wondering what is it that Congress needs to hear before they decide to act … their focus is more on politics than it is on the American economy,” said CFRA Chief Investment Strategist Sam Stovall.
The US Food and Drug Administration is expected to issue an emergency use authorization for Pfizer Inc’s COVID-19 vaccine later in the day, the New York Times reported.
The Dow Jones Industrial Average rose 47.11 points, or 0.16 percent, to 30,046.37, the S&P 500 lost 4.64 points, or 0.13 percent, to 3,663.46 and the Nasdaq Composite dropped 27.94 points, or 0.23 percent, to 12,377.87.
The pan-European STOXX 600 index closed down 0.8 percent and MSCI’s gauge of stocks across the globe shed 0.19 percent. The MSCI index also was down for the week.
Still, recent US initial public offerings suggested investors were generally upbeat on equities, even as jobs data pointed to U.S. economic weakness.
US Treasury yields were lower across maturities as complications in stimulus negotiations increased demand for the safe-haven securities.
Benchmark 10-year notes last rose 4/32 in price to yield 0.8948 percent, from 0.908 percent late on Thursday.