Stocks finish higher after volatile day fueled by stimulus news
- The market ended the day higher on stimulus anticipation, but no
tangible progress was made in Washington during the trading session.
- The S&P (SP500) closed up 0.5%, the Nasdaq (COMP) ended up 0.3% and
the Dow (DJI) rose 0.4%.
- Ten of 11 S&P sectors finished in the green, but the market moved off
its highs as Senate Majority Leader Mitch McConnell said that stimulus
checks were not included in the GOP stimulus package proposal. There was
a last-hour rise following Senate Minority Leader Chuck Schumer saying
that
Democrats would still keep pushing for a deal after the election. But
shortly before the close the Washington Post reported that McConnell had
warned the White House against a big stimulus deal before the election.
- Cyclicals remained strong throughout the day, with Financials
(NYSEARCA:XLF), Consumer Discretionary (NYSEARCA:XLY) and Energy
(NYSEARCA:XLE) in the lead.
- The Fab 5 megacaps also rose, with Facebook the big gainer, up more
than 2%.
- Consumer Staples (NYSEARCA:XLP) was the only sector in the red.
|Yesterday, 4:05 PM|21 Comments
- The market ended the day higher on stimulus anticipation, but no
tangible progress was made in Washington during the trading session.
- The S&P (SP500) closed up 0.5%, the Nasdaq (COMP) ended up 0.3% and
the Dow (DJI) rose 0.4%.
- Ten of 11 S&P sectors finished in the green, but the market moved off
its highs as Senate Majority Leader Mitch McConnell said that stimulus
checks were not included in the GOP stimulus package proposal. There was
a last-hour rise following Senate Minority Leader Chuck Schumer saying
that
Democrats would still keep pushing for a deal after the election. But
shortly before the close the Washington Post reported that McConnell had
warned the White House against a big stimulus deal before the election.
- Cyclicals remained strong throughout the day, with Financials
(NYSEARCA:XLF), Consumer Discretionary (NYSEARCA:XLY) and Energy
(NYSEARCA:XLE) in the lead.
- The Fab 5 megacaps also rose, with Facebook the big gainer, up more
than 2%.
- Consumer Staples (NYSEARCA:XLP) was the only sector in the red.
|Yesterday, 4:05 PM|21 Comments
Comments
Post a Comment