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Dow gains 0.83% as Wall Street closes winning week
US equity markets finished higher on Friday, capping a positive week for major indices. The Dow Jones Industrial Average led gains, while specific stock movements included a sharp decline for Verizon after a SpaceX announcement and a surge in vaccine…
US equity markets advanced on Friday, concluding a strong week for the three main indices. The Dow Jones Industrial Average climbed 423.31 points, or 0.83%, to close at 51,654.95. The S&P 500 rose 0.59% to 7,811.54, and the Nasdaq Composite added 0.64%, reaching 27,366.17.
Verizon shares experienced their most significant single-day decline since July 2002, dropping over 9% by afternoon trading. This pressure on telecommunications stocks followed SpaceX's announcement of an agreement to acquire a nationwide spectrum portfolio.
Separately, former President Donald Trump stated that Russia would supply millions of tons of diesel to global markets under a deal with President Vladimir Putin. Initial shipments include over 300,000 tons immediately, 500,000 tons in November, and an additional 1 million tons thereafter, with Moscow potentially delivering a further 3 million tons based on refinery conditions. Global diesel prices have recently increased following attacks on Russian and Middle Eastern refineries, which prompted Russia to ban diesel exports.
Vaccine developers Moderna and Novavax saw their shares jump after The New York Times reported on a planned National Institutes of Health (NIH) public-private initiative. This effort, slated to begin in December, aims to accelerate the development of personalized cancer vaccines, focusing on pancreatic, liver, and colorectal cancers, alongside specific pediatric tumors. Many of these experimental treatments employ mRNA technology to train the immune system against tumor-specific proteins. Moderna, already developing a personalized mRNA cancer vaccine with Merck, has seen its stock rise over 600% year-to-date in 2026, making it the top-performing S&P 500 constituent.
Among individual stock movers, Humana shares gained 12% after its largest Medicare Advantage contract improved its 2027 Star Rating from the Centers for Medicare & Medicaid Services, while Alignment Healthcare fell almost 14%. Apple shares declined nearly 2% following a Nikkei Asia report indicating cuts to iPhone 18 Pro component orders. The report cited weaker-than-expected demand, leading to a 15% reduction in October production orders for the iPhone 18 Pro and Pro Max from original plans. Park Aerospace, a manufacturer of composite materials, lost 9% despite reporting second-quarter earnings of 21 cents per share on USD 20.8 million in revenue, up from 12 cents per share and USD 16.4 million in the prior-year period.
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