U.S. stocks rose Thursday, rebounding after fresh data showed jobless claims dropped and the economy expanded sharply in the third quarter.
Stocks tumbled Wednesday, putting all the three major indexes on track for their worst week since March 20, as a surge in COVID-19 cases in the U.S. and Europe heightened investor worries over the economic recovery. Investors also have begun to take precautions ahead of the Nov. 3 U.S. election while digesting third quarter corporate earnings reports.
U.S. stocks wobbled Tuesday, attempting to stabilize after worries about the coronavirus pandemic sent markets tumbling to start the week. Rising Covid-19 infection levels around the world are compounding worries about the global economic outlook. The seven-day average of new cases in the U.S. reached a record Monday, while a number of countries in Europe, including Italy, Spain and Russia, tightened restrictions on activity to try to curb the spread of the virus.
Stocks dropped sharply Monday as coronavirus cases surged in the U.S. and Europe, adding to worries about the economic outlook after Congress and the White House failed to agree on a much-anticipated fiscal stimulus deal.
The S&P 500 edged higher Friday, but finished the week with a decline, snapping a three-week winning streak. Money managers say stocks are likely to lack clear direction in the coming week as investors avoid placing big bets ahead of the Nov. 3 election. They are looking instead to a flurry of economic and corporate-earnings reports for a clearer picture of the economic outlook, as rising coronavirus cases threaten to slow the recovery.
U.S. stocks rose Thursday after economic data showed an improving economy and investors monitored negotiations in Washington over a fresh stimulus bill that could further support the recovery.
U.S. stocks traded in a narrow range Wednesday, closing down, as investors assessed prospects for a fresh stimulus bill and the health of major American businesses through their quarterly reports.
U.S. stocks rose Tuesday on optimism that Congress would reach an agreement on a spending package to support American households and businesses through the pandemic.
The Dow Jones Industrial Average fell more than 400 points Monday as investors’ hopes for a fresh stimulus package before the election dwindled. Investors have been closely monitoring the progress of talks between lawmakers and the White House over a stimulus deal. Further relief to households or businesses battered by the coronavirus pandemic could bolster an economic recovery as the effect of previous stimulus measures wears off.
U.S. stocks ended a volatile week with modest gains as investors parsed economic signals and watched for progress towards additional stimulus from Washington.