NEW YORK - The Dow and S&P closed higher on Monday with the Nasdaq posted slimmer gains on the eve of the US presidential election, as investors girded for what could be big market swings after all three indexes notched their biggest weekly decline since March.
While the Dow and S&P were on the plus side, they ended well off session highs, and the Nasdaq dipped into the red as mega-cap technology and tech-related names struggled to gain traction after slumping in the prior week. "The longer this plays out over the course of the week, if it takes that long, the more volatility we would expect."
On the other hand, JP Morgan has listed Bank of America , Wells Fargo and Citigroup in its"Trump basket" of stocks. The S&P banks index added about 2 per cent.More on this topic The S&P 500 ended a turbulent week at near six-week lows on Friday, after quarterly reports from technology mega-caps failed to impress and as coronavirus cases surged in the United States and Europe.