Stocks rise on Wall Street; S&P 500 closes at record high

NEW YORK — The S&P 500 is closing a shortened session at a record high Friday as investors continue to look forward to the distribution of a covid-19 vaccine and relief for the economy.

The benchmark index rose 0.2%, led by gains in technology companies, and closed at an all-time high of 3,638.

Optimism about a vaccine persists even as one vaccine candidate suffered a setback and cases of coronavirus remain at elevated levels.

Meanwhile, retailers were hoping that their slumping sales get a boost from shoppers on Black Friday but early indications are that store traffic was light. The yield on the 10-year Treasury slipped to 0.85%.