US: Stocks end volatile session higher but down for the week

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[NEW YORK] Wall Street stocks finished higher Friday following a topsy-turvy session as investors weighed rising coronavirus cases in some states and concerns about excessive equity valuations. Read more at The Business Times.

In some places, more widespread testing has contributed to a higher number of reported cases each day. Many of these are mild and do not lead to hospitalization.

Art Hogan, chief market strategist at National Securities, said the trend in coronavirus cases added to worries about excess stock valuations and still-weak economic data. "Going from phase two to phase three is going to take longer if we're seeing an increase in cases," he said.

 

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