The S&P 500 rose 30.31 points to 3,477.14. The Dow Jones Industrial Average gained 161.39 points, or 0.6%, to 28,586.90. The gain nudged the Dow into positive territory for the year. The Nasdaq composite climbed 158.96 points, or 1.4%, to 11,579.94.
Small-company stocks added to their solid gains this week. The Russell 2000 index picked up 9 points, or 0.6%, to 1,637.55. The index jumped 6.4% this week.
Investors have been clamoring for more federal aid since the expiration of extra benefits for laid-off workers and other stimulus for the economy that Congress approved earlier this year. Economists say the outlook is grim without such support, and the chair of the Federal Reserve has said repeatedly it will likely be necessary.
Still, the prospects for a new deal on more aid have been shaky, especially this week.
Trump said House Speaker Nancy Pelosi was negotiating in bad faith when he called off the talks Tuesday. But within a couple hours, he appeared to backtrack. He said he would back more limited programs that would send $1,200 payments to Americans and support the airline industry and small businesses specifically.
On Friday, the White House increased its offer to $1.8 trillion, up from $1.6 trillion, according to a Republican aide familiar with the plan. Pelosi’s most recent public proposal was about $2.2 trillion, though that included a business tax increase that Republicans won’t go for.
Pelosi and Treasury Secretary Steven Mnuchin spoke on the phone for 30 minutes Friday, but nothing concrete appeared to immediately emerge from the discussion. Senate Majority Leader Mitch McConnell said he doubts a deal will get done before the election.