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AP News | Equities.com |

The S&P 500 closed at a record high on Friday as optimism built among investors that a coming vaccine for the coronavirus will help end the shutdowns that have devastated the economy.

The benchmark index posted its second weekly gain in a row. Markets also welcomed the election of Joe Biden as president and the likelihood of Republican control of the Senate, setting up a divided government that will probably mean a continuation of business-friendly policies. Small-company stocks outpaced the rest of the market this week, reflecting greater confidence in the economy.


AP News | Equities.com |

U.S. stocks pulled back on Thursday, amid increasing worries about worsening coronavirus counts across the country.

Markets around the world have taken a pause after galloping higher this month, at first on expectations that Washington will continue several pro-business policies following last week’s U.S. elections. More recently, encouraging early results for a potential COVID-19 vaccine have investors envisioning a global economy returning to normal.

The S&P 500 index lost 35.65 points, or 1%, to 3,537.01. The Dow Jones Industrial Average dropped 317.46 points, or 1.1%, to 29,080.17 and the Nasdaq composite lost 76.84 points, or 0.7%, to 11,709.59.


AP News | Equities.com |

Stocks closed mostly higher on Wednesday, helped by big technology stocks, but news of tighter restrictions in New York State helped dent an earlier rally.

The S&P 500 closed up 27.13 points, or 0.8%, to 3,572.66. The technology-heavy Nasdaq composite, meanwhile, rose by 2%.

The Dow Jones Industrial Average fell 23.29 points, or 0.1%, to 29,397.63. The index was being dragged lower in part by American Express and Walt Disney, two stocks that shot up this week after news of a potentially successful vaccine sent travel, entertainment and tourism companies surging. The Dow declined shortly after news crossed that New York would put restrictions on bars, restaurants and gyms as COVID-19 infections rose in the state.


AP News | Equities.com |

Stocks downshifted on Tuesday, a day after their powerful worldwide rally, but optimism remained high that the global economy may still be headed for a return to normal.

It was the second straight day that rising hopes for a COVID-19 vaccine pushed investors to reorder which stocks they see winning and losing, and the continuing revamp left the majority of U.S. stocks higher but indexes mixed. Treasury yields and oil, meanwhile, held onto their big gains from a day earlier or added some more amid strengthened confidence in the economy.


David Nelson, CFA CMT | Equities.com |

Even before Pfizer's historic announcement that its COVID-19 vaccine trial was showing 90% efficacy, the S&P 500 was on track to break out above important resistance. Stocks have been held hostage trapped in a 350-point S&P trading range defined by the all-time September 2nd high and where 2020 started. In a near manic depressive state, investors have been caught in a tug of war with rising COVID-19 cases, increased shutdowns and political unrest on one side and falling unemployment, better economic data and strong earnings on the other.


AP News | Equities.com |

Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine.

The S&P 500 rose 41.06, or 1.2%, to 3,550.50 after Pfizer said an early peek at its vaccine data suggests the shots may be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent. The index at the heart of many 401(k) accounts had been up as much as 3.9% earlier in the day, though it pared its gain in the last hour of trading amid drops for the Big Tech stocks that dominate the market.


AP News | Equities.com |

Wall Street took a breather Friday after a blistering rally that gave the market its biggest weekly gain since April and indicated investors see plenty of benefits from more gridlock in Washington.

The S&P 500 inched down 1.01 point, or less than 0.1%, to 3,509.44, leaving its blockbuster gain for the week at 7.3%. The wild week was dominated by an election that, as of Friday afternoon, had yet to definitively show who the U.S. president would be next year or which party would control the next Congress.


AP News | Equities.com |

Wall Street’s post-election wave swept stocks solidly higher again Thursday, pushing the S&P 500 toward its biggest weekly gain since April.

Markets are banking on Tuesday’s election leading to split control of Congress, which could mean low tax rates, lighter regulation on businesses and other policies that investors like remain the status quo. It’s still unclear who will run the White House next year, though Democrat Joe Biden is pushing closer toward the needed mark as vote counting continues in a number of key states.


AP News | Equities.com |

Stocks powered higher Tuesday as investors hope the end of a bruising U.S. presidential campaign may soon lift the heavy uncertainty that’s sent markets spinning recently.

The S&P 500 rose 58.92 points, or 1.8%, to 3,369.16 for its second straight healthy gain. The rally was widespread and global, with Treasury yields, oil prices and stocks around the world all strengthening.

The Dow Jones Industrial Average climbed 554.98, or 2.1%, to 27,480.03, and the Nasdaq composite added 202.96, or 1.9%, to 11,160.57.


AP News | Equities.com |

Image: Five-day chart, S&P 500 Index. Source: Yahoo Finance

By Stan Choe, Damian J. Troise and Alex Veiga

 

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Source: AP News

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