Stocks reach record highs as investors hope for stimulus

Friday, December 18, 2020, Vol. 44, No. 51
The Associated Press

Stocks rose on Wall Street, reaching more record highs, as investors remain optimistic that Washington will deliver another round of financial support for the economy and as vaccines continue to roll out to the public.

The S&P 500 rose 0.6% Thursday. Wall Street has been hopeful that Congress will strike a deal on more relief just as the economy shows more signs of stalling.

The Labor Department reported that the number of Americans seeking unemployment benefits rose to 885,000 last week, the most since September.

Unemployment has been edging higher and retail sales have been hurt as tighter restrictions squeeze people and businesses.