S&P 500 Index inches higher to new record top above 3,720

• Major equity indexes opened slightly higher on Friday.
• Major S&P 500 sectors trade mixed after the opening bell.
• US FDA is largely expected to approve Moderna's COVID-19 vaccine later in the day.

Wall Street's main indexes started the last day of the week with small gains but seem to be struggling to gather momentum. As of writing, the Dow Jones Industrial Average was flat on the day at 30,292, the S&P 500, which touched a new all-time high of 3,726, was posting small gains at 3,722. Finally, the Nasdaq Composite was advancing 0.04% at 12,756.

Reflecting the indecisiveness in the markets, 6 of 11 major S&P 500 sectors trade in the green while 5 of them post small losses. At the moment, the Real Estate Index is down 0.4%. On the other hand, the Materials Index is up 0.3%.

Meanwhile, investors await fresh developments surrounding the stimulus talks. Latest headlines suggest that lawmakers are closing on finalizing the $900 billion coronavirus aid bill. Moreover, the US Food and Drugs Administration (FDA) is widely expected to approve Moderna's coronavirus vaccine for emergency use but this is already priced in the markets and unlikely to trigger a significant market reaction.