Close Update: Stocks Rally Friday Led by Technology to End Week Mixed

Friday, September 25, 2020 4:29 PM | MT Newswires

Stocks surged Friday, ending the week on a positive note, pushed higher by gains in technology.

The Dow Jones Industrial Average jumped 1.3% to 27,173.96 while the S&P 500 added 1.6% to 3,298.46. The Nasdaq Composite Index jumped 2.3% to 10,913.56. The technology sector was the biggest gainer in the S&P 500, climbing 2.4%.

For the week, the S&P 500 fell 0.6% while the Dow slumped 1.7%. The Nasdaq rose 1.1%.

Stocks had started the session slightly weaker before reversing course and heading higher. The major market indexes hit their intraday highs late in the session before pulling back slightly.

Among the gainers, Standard AVB Financial (STND) jumped 73% after striking a deal to be acquired by Dollar Mutual Bancorp for $33 per share, or $158 million, in cash. SG Blocks (SGBX) rose 57% following plans to build modular COVID-19 testing centers for the Los Angeles International Airport with architecture firm Grimshaw. Sypris Solutions (SYPR) added 42% after securing several contracts to supply electronic assemblies for multiple government programs for undisclosed value.

On the down side, Sunworks (SUNW) slumped 47% following a non-compliance notice from Nasdaq.

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