U.S. stocks fell Thursday after the first weekly increase in new unemployment claims since March raised concerns that mounting coronavirus infections and a renewed wave of mandated lockdowns could slow the economic recovery.
A climb in shares of Pfizer boosted the stock market Wednesday after news the drugmaker had reached a procurement deal with the U.S. government for a potential coronavirus vaccine the company is developing with BioNTech.
Energy shares climbed with the price of oil Tuesday, pushing the Dow Jones Industrial Average higher after a fiscal stimulus package from the European Union boosted hopes of mitigating the pandemic’s economic fallout.
U.S. stocks rose Monday, spurred on by a rally in tech stocks and continued optimism about the prospects of a novel coronavirus vaccine being ready for production later this year. The Nasdaq Composite set a record, rising 263.90 points, or 2.5%, to 10767.09. That eclipsed its previous record of 10617 from July 10.
Stocks eked out modest gains Friday as investors reacted to disappointing consumer sentiment data and gauged the potential for additional fiscal stimulus in the U.S. and Europe while COVID-19 cases continue to climb.
U.S. stocks fell Thursday, while Chinese stocks suffered their biggest drop in more than five months, on fresh concerns about rising coronavirus infections and the global economy’s faltering recovery from the pandemic.
The Dow Jones Industrial Average rose a fourth straight day Wednesday, notching its longest win streak in more than a month, after investors got several doses of good news. Signs of progress toward a coronavirus vaccine by Moderna propelled most corners of the stock market higher. Goldman Sachs Group added to the advance after reporting one of its best quarters by revenue ever. Apple won a key court case in Europe, and economic figures on industrial production surprised to the upside.
U.S. stocks turned higher Tuesday, accelerating toward the end of the session, as investors parsed earnings results from the biggest banks for insights on the health of the American economy and its lenders.
Major stock indexes had surged earlier in the session, with the Dow Jones Industrial Average rising more as much as 563 points. But sentiment shifted after California moved to close all indoor dining, bars and other businesses. The Los Angeles Unified School District, the nation’s second largest, said it would start the school year online.
U.S. stocks climbed Friday, ending the week with gains, as investors brushed off worries about a fresh wave of coronavirus infections and its impact on the economic recovery.