Daily Market Report | Jan. 07, 2021 Stocks Climb Toward Records as Tech Shares Recover – Wall Street Journal, 1/7/2021 Political unrest in Washington didn’t dent the stock market’s ongoing rally Thursday, with U.S. stocks climbing toward fresh records. Financial and technology stocks led Thursday’s gains, pushing the S&P 500 up 1.5% and putting the broad index on pace to close at its first record of 2021. Investors largely looked past Wednesday’s violent clash between pro- Trump protesters and law enforcement in the Capitol building that left four people dead, instead focusing on what the shift [...]
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Daily Market Report | Jan. 06, 2021 Dow Rallies, Tech Stocks Trail as Democrats Lead in Georgia Elections – Wall Street Journal, 1/6/2021 The Dow rose, while U.S. technology stocks underperformed Wednesday as investors bet that the Democrats were poised to take control of the Senate following early results from Georgia’s runoff elections. The tech-heavy Nasdaq Composite edged down 0.2% shortly after the opening bell on expectations that a Democrat-controlled Congress would lead to higher taxes and tighter regulations on tech giants. The Dow Jones Industrial Average, in contrast, rose 1.1%, or roughly 325 points, and [...]
Daily Market Report | Jan. 05, 2021 U.S. Stocks Edge Higher Ahead of Georgia Elections – Wall Street Journal, 1/5/2021 U.S. stocks edged higher Tuesday as investors await the outcome of two electoral races in Georgia that will determine control of the Senate. Money managers are closely monitoring the Georgia Senate runoff elections Tuesday. If Democrats win both seats, that could make it easier for President-elect Joe Biden’s administration to pass new legislation. Additional fiscal stimulus would be more likely if Democrats control Congress and the White House, and that could potentially give stocks another leg [...]
Daily Market Report | Jan. 04, 2021 U.S. Stocks Slip to Start 2021 – Wall Street Journal, 1/4/2021 U.S. stocks wobbled on the first trading day of the year, dragged down by losses across everything from manufacturers to beverage makers. Investors are starting off the new year fixated on the same issue that dominated markets for much of 2020: the coronavirus pandemic. Although money managers acknowledge the pandemic is far from over, many are holding out hope that economic activity will be able to pick up later this year. Still, analysts warn that in the near-term, [...]
Daily Market Report | Dec. 31, 2020 U.S. Stocks Waver in Final Trading Day of 2020 – Wall Street Journal, 12/31/20 U.S. stocks wobbled early Thursday, signaling a muted finish to a year that saw the major indexes contract sharply in the spring before snapping back to cinch record highs. The tepid end belies a year that saw stocks bounce back since the March rout despite the economic fallout of the coronavirus pandemic. The unprecedented steps taken by major central banks to bolster credit flow and the increase in governments’ spending encouraged investors to focus on [...]
Daily Market Report | Dec. 30, 2020 U.S. Stocks Rise, Eyeing Fresh Records – Wall Street Journal, 12/30/20 U.S. stocks headed for fresh records Wednesday as the rollout of coronavirus vaccines and recent signing of a new aid bill bolstered investors’ expectations for the economy. The stock indexes ended Tuesday with small declines after Senate Majority Leader Mitch McConnell blocked an effort to hold a vote on sending bigger stimulus checks to many Americans. Stocks have largely drifted higher this month, though the momentum that powered markets through November has lost steam as investors weigh conflicting [...]
Daily Market Report | Dec. 29, 2020 Stocks Climb, Extending Record-Setting Rally – Wall Street Journal, 12/29/20 U.S. stocks notched gains Tuesday, extending a recent rally that has sent major benchmarks to fresh records. Stocks have been powering higher in the final days of the year, and the latest leg of the rally has been driven in part by U.S. lawmakers’ efforts to pass a second stimulus package to help the economy. The House on Monday approved a bill proposing to increase the size of stimulus checks to $2,000 from $600. The measure now heads to [...]
Daily Market Report | Dec. 28, 2020 U.S. Stocks Rise on Stimulus Bill Passage – Wall Street Journal, 12/28/20 U.S. stocks rose Monday after President Trump signed a Covid-19 aid bill, averting a government shutdown and ending uncertainty about the rollout of the spending package. Mr. Trump’s signing of the $900 billion bill paves the way for the government to make direct payments to American households as the surging coronavirus pandemic continues to disrupt business and social activity. Shares of travel companies that have been hit hard by the coronavirus pandemic were among the biggest gainers [...]
Daily Market Report | Dec. 24, 2020 U.S. Stocks Rise in Shortened Session – Wall Street Journal, 12/24/20 U.S. stocks edged higher Thursday, putting major indexes on track to finish the holiday-shortened week little changed. Investors have been focused on a swath of issues this week, including the prospects for additional fiscal support for the economy and signs of the rebound faltering. Elevated coronavirus infection levels and a new variant of Covid-19 that emerged in the U.K. have prompted concerns that there may be additional lockdown measures in the winter months, weighing on market sentiment. Bets [...]
Daily Market Report | Dec. 23, 2020 Stocks Edge Up as Data Points to Uneven Economic Rebound – Wall Street Journal, 12/23/20 The S&P 500 and Dow Jones Industrial Average edged higher Wednesday, despite a string of data suggesting the economic rebound remains uneven amid the recent surge in coronavirus hospitalizations. U.S. household spending fell in November for the first time since April, and incomes also dropped, signs the virus is weighing on economic growth. Jobless claims fell to 803,000 last week, a retreat from a three-month high. Concerns about rising Covid-19 infections and a new [...]