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U.S. stocks finished the holiday-shortened week with gains.

The equity and bond markets will be closed Friday, Christmas Eve.

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There will also be no futures trading Friday. Trading resumes Sunday at 6 p.m. ET.

Asian stock markets were mixed Friday after Wall Street hit a new high as fears of the coronavirus's omicron variant eased.

The Nikkei 225 in Tokyo gained less than 0.1%, the Hang Seng in Hong Kong advanced 0.1% and the Shanghai Composite Index lost 0.8%.

European markets will trade in an abbreviated session. The London Stock Exchange will be closed Monday and Tuesday for holidays.

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Wall Street's benchmark S&P 500 index rose 0.6% on Thursday to 4,725.79, surpassing its Dec. 10 record. The index ended up 2.3% for the week.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES35950.56+196.67+0.55%
SP500S&P 5004725.79+29.23+0.62%
I:COMPNASDAQ COMPOSITE INDEX15653.373957+131.48+0.85%

Investor anxiety has mounted as omicron spread but moderated after authorities said it might cause less severe illness. President Biden called for more vaccinations and testing but announced no plans for travel restrictions.

The Dow Jones Industrial Average gained 0.6% to 35,950.56 and the Nasdaq composite gained 0.8% to 15,653.37.

JOBLESS CLAIMS REMAIN UNCHANGED AT 205,000, NEAR HALF-CENTURY LOW

The Labor Department said the number of Americans applying for unemployment benefits was unchanged last week, reflecting a strong rebound for the job market.

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The Commerce Department reported Thursday that U.S. consumer spending rose 5.7% in November over a year earlier, its fastest pace in 39 years.

The Associated Press contributed to this report.

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