(Reuters) – Wall Street’s main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.
Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 11, 2020. REUTERS/Brendan McDermid
The indexes, however, were well off their session highs and the CBOE volatility index turned positive to hit its highest level since April 22.
The S&P 500 .SPX rose as much as about 3% earlier in the session.
On Thursday, the tech-heavy Nasdaq .IXIC ended about 5% below its record closing high and the S&P 500 .SPX tumbled nearly 6% in their worst day since mid-March, as the Federal Reserve’s indication to a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound.
The S&P 500 is now about 10.8% from its record high after being within 5% from that level earlier this week.
“Perhaps the markets have ov