Wall Street ends the week on a high note

Although the recent developments surrounding the political turmoil in the U.S. forced the major equity indexes in the U.S. to retrace most of their earnings, they closed the last day of the week higher.

The Dow Jones Industrial Average added 141.82 points, or 0.69%, to 20,804.84, the S&P 500 rose 16.01 points, or 0.68%, to 2,381.73, but lost 0.4% on a weekly basis as Wednesday's drop of 1.8% was too big to retrace. Finally, the heavy-tech Nasdaq Composite gained 28.57 points, or 0.47%, to 6,083.70.

After a strong opening, at one point in the session, the indexes were up more than 1%. However, a recent report by Washington Post claimed that the investigators were focusing on a current White House official as a person of interest in their probe of Russian influence on the Trump's election victory, and triggered a bout of risk aversion, causing the investors to cash in their profits before they break for the weekend.

Furthermore, a separate article by the NY Times claimed that in a document summarizing the meeting that took place on May 10 between President Trump and Russian officials, Trump was quoted saying "I just fired the head of the F.B.I. He was crazy, a real nut job."

Headlines from the U.S. session:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.