Stocks rose on Thursday across all three major U.S. stock markets after back-to-back days of losses as investors flocked toward major tech names in the face of a third-wave of coronavirus infections and after data from Johns Hopkins University showed that the seven-day average of daily new U.S. COVID-19 positive cases clocked over 161,000, and the death toll topped a quarter million. News from Senate Minority Leader Chuck Schumer, that Majority Leader Mitch McConnell is willing to resume stimulus relief talks also boosted investor spirits yesterday. The Dow Jones Industrial Average (DJI – 29,483.23) rose 44.8 points yesterday. The
Stocks fell Friday as rising COVID-19 cases raised the specter that more restrictions would be unleashed across U.S. cities and states, threatening to crimp business activity and jeopardize the tenuous economic recovery. An apparent dispute between the U.S. Treasury and Federal Reserve over whether to renew some pandemic-era emergency lending programs also weighed on risk assets.
Investors weighed these risks against a steady flow of positive news over a vaccine. Pfizer (PFE) and BioNTech (BNTX) said they plan to file for an emergency use authorization with the U.S. Food and Drug Administration on Friday, which would
The S&P 500 and Dow reversed earlier losses to push into slightly positive territory, as investors weighed rising COVID-19 cases in the U.S. and increased restrictions against hopes for an effective vaccine.
For the past few days, the bad outweighed the good. On Wednesday, the Dow posted its biggest loss in three weeks, dropping nearly 350 points, or 1.2%, amid more signs of deterioration in the battle to keep COVID-19 cases at bay. New York City, home to the largest public school system in the country, is set
Stocks jumped Thursday to extend a rally from a day earlier, as traders honed in on the outcome of the U.S. election, with several key states’ results still hanging in balance.
The Dow added more than 500 points, or about 2%, for the fourth straight day of gains as traders await key states’ election results. The S&P 500 rose by about 2% and Nasdaq added 300 points, or 2.59% at market close.
As of Thursday morning, several key states including Pennsylvania and Nevada had yet to be called
Stay-at-home stocks that thrived throughout this year’s pandemic were rotated tossed aside yesterday as investors favored companies more directly linked to economic recovery. While the Dow was able to achieve another daily win, the Nasdaq and the S&P 500 phoned in losses on Tuesday. The Dow Jones Industrial Average (DJI – 29,420.92) rose 263 points for the day yesterday. The S&P 500 Index (SPX – 3,545.53) shed 5 points and the Nasdaq Composite (IXIC – 11,553.86) fell 159.9 points yesterday. The Cboe Volatility Index (VIX – 24.80) lost 1 point during Tuesday’s session.
With the vaccine news taking the spotlight