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Wall Street see-saws as investors weigh mixed earnings, stimulus prospects

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U.S. stock indexes traded mixed and in a narrow range on Wednesday as investors digested mixed quarterly results, stimulus negotiations in Washington and simmering U.S.-China tensions.

FILE PHOTO: A nearly empty trading floor is seen as preparations are made for the return to trading at the New York Stock Exchange in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid

The S&P 500 remains positive territory year-to-date, up nearly 1%. The Nasdaq has gained more than 18% since Jan. 1, while the Dow remains down almost 6%. The latest figures showed more than 1,000 deaths in the United States from COVID-19 on Tuesday, bringing the total death toll to nearly 142,000. Experts warned that number will rise further due to a surge in new infections.

“Talk of a big stimulus package is sending jitters through the market because of the swelling deficit,” Ghriskey added. “On the other hand stimulus package benefits the economy and we all know this economy needs help during this pandemic.”

 

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This market feels happy, and it's going to stay happy until it doesn't.

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