Wall Street rebounds as market eyes tech results, strong U.S. data

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U.S. stocks recovered some of the steep losses seen the day before, as investors gobbled up high-flying technology shares in anticipation of strong quarterly results after the close

FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., October 28, 2020. REUTERS/Carlo Allegri

Sentiment also got a boost from data showing the U.S. economy grew at a record pace in the third quarter after the government poured out more than $3 trillion of pandemic aid. A separate report showed weekly unemployment claims fell last week. “It’s positive data, but it’s a little bit backward looking because you have COVID-19 cases on the rise again which doesn’t really send a strong signal about the fourth quarter,” said Shawn Snyder, head of investment strategy at Citi Personal Wealth Management in New York.surged to a 15-week high this week due to lack of fiscal stimulus, while the White House coronavirus task force urged for aggressive measures to curb the pandemic.

Democratic challenger Joe Biden holds a comfortable lead over President Donald Trump in national polls, but the race in battleground states that will likely decide the election are tighter than the national surveys.

 

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You don’t say? Never seen that coming 🤦🏻‍♂️

Might have a little to do with major European countries going into lockdown today to protect the lives of their citizens and providing support for businesses. In the short term, this will cost them. In the longer term this means they are likely to recover more quickly than US.

Futures are down.....1%

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Buy buy buy

Stimulus is more than enough

Yup and then Apple dropped 5% haha. Ouch.

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Stocks sink on Wall Street as virus cases continue to spreadStocks open sharply lower on Wall Street as virus cases spread and as European countries move toward imposing more restrictions. Crude oil prices fell sharply on expectations that demand for energy would weaken even more. 232,101 dead and counting. Let us never forget or forgive Trump's virus denial- PLEASE VOTE 1/22 We have it totally under control. 2/28 this is their new hoax 6/17 It’s fading away 6/18 Numbers are starting to get very good 7/19 It’s going to disappear 8/3 It’s under control The Trump2020 National Debt, Jobs and Covid Scorecard with (6) days left before Election: TrumpVirus VoteBlueToSaveAmerica TrumpLiedAmericansDied realDonaldTrump is running our country's economy like his own businesses: into the ground.
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