S&P dips on worries about earnings, data, stimulus and election

REUTERS: The S&P 500 and Dow closed lower on Thursday after data painted a worrying economic picture ahead of important corporate earnings reports, while President Donald Trump exacerbated investor nervousness by floating the possibility of delaying the U.S. presidential election.

Also jobless claims rose last week, adding to signs the momentum of economic recovery has slowed as coronavirus cases spiraled in southern and western U.S. states. After the initial knee-jerk reaction, Schleif said, people stepped back and focused on Federal Reserve Chair Jerome Powell's assurance on Wednesday that the central bank would"do whatever it takes" to support the economy.

The market had gained ground on Wednesday even after the Fed also said a surge in virus cases was likely stalling the recovery, which will depend significantly on the virus path.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P dips on grim data; US election uncertainty, earningsThe S&P 500 and Dow fell on Thursday after data painted a worrying picture of the economy, while President Donald Trump floated the possibility of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Hi-P posts 3.3% dip in H1 earnings to S$24.2mTHE net profit of contract manufacturer Hi-P fell 3.3 per cent to S$24.2 million for H1 FY2020 ended June, even as its revenue for the period fell 5.1 per cent to S$543.8 million due to the impact of the Covid-19 pandemic. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »