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.

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