The Standard & Poor’s 500 index rose 0.6%, with technology and healthcare stocks powering much of the market’s broad rally. The index, which is a key benchmark for many 401 accounts, has now set 31 record highs this year. The Dow Jones industrial average and Nasdaq composite also hit new highs. Treasury yields moved broadly higher, a sign of bonds traders’ confidence in the economy.
“Investors are being hopeful because of that, even though we’re seeing a widening lockdown threat from cities, states and countries,” said Sam Stovall, chief investment strategist at CFRA. “The market is traveling on an end-of-year autopilot, which should allow share prices to drift higher, unless we hit an unexpected pothole.”The S&P 500 rose 21.31 points to 3,722.48. It’s the index’s third straight gain. The Dow picked up 148.83 points, or 0.5%, to 30,303.37.
Wall Street has been more hopeful that Congress is getting closer to striking a deal that will give a financial lifeline to people and businesses. Democrats and Republicans have been locked in a partisan fight over the size and scope of any additional package, just as the economic recovery shows signs of stalling amid a surge in virus cases.
rose to 885,000 last week, the most since September. Unemployment has been edging higher and retail sales have been hurt as tighter restrictions squeeze people and businesses., which helped shore up the markets early in the pandemic. The central bank has again pledged to keep buying bonds until the economy makes substantial progress. Still, the Fed has said it can only do so much to tide over the economy and that more financial support from Washington is crucial for a continued recovery.
no more than we do
P mm
Wow maybe they should give everyone more money
good luck
lmfao keep waiting, I guess