US stocks extend gains, Nasdaq scores first weekly gain since August

US stock indices rose on Friday, to extend gains in the final hour of the session, which buoyed Nasdaq to score its first weekly gain since August, but Dow Jones and S&P 50 posted their fourth straight weekly loss.

Despite rising number of coronavirus infections around the world, optimism persist about developing a safe and effective vaccine soon.

Data showed that the US durable goods orders index rose 0.4% in August, beating analysts' forecasts of 1.1%, the core reading of the same index (excluding energy and food prices) rose 0.4% in August, also lower than forecasts of 1%.

To the oil market, WTI October futures at Nymex fell 0.2% to close at $40.25 a barrel, and posted 2.6% weekly loss, after hitting a day high of $40.6 and a low of $39.7.

Brent November futures slipped less than 0.1% to $41.92 a barrel, with a weekly loss of 2.9%, a high of $42.3 and a low of $41.8.    

As for stocks, Dow Jones rose 1.3% or 358 points to close at 27,174, with a weekly loss of 1.8%, after it hit a day high 27,239 and a low 26,635.

S&P 500 rose 1.6% or 52 points to 3,298, and posted 0.6% loss this week, with a high of 3,309 and a low of 3,228.

Nasdaq rose 2.3% or 241 points to 10,913 points, and registered weekly gains of 1.1%, with a high of 10,939 and a low of 10,639.