BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday on hopes Washington will provide more aid to the struggling U.S. economy.
Benchmarks in Shanghai, Hong Kong, South Korea and Sydney advanced. Tokyo was off 0.1%.
Wall Street gained Thursday after President Donald Trump suggested he might be reversing his decision to halt talks on economic aid. Separately, a report indicated the near-record pace of U.S. job losses might be slowing.
Stock prices have been volatile since mid-September as investors swing between optimism about possible development of a coronavirus vaccine and unease that markets recovered too fast and shares are too expensive.
“The on-and-off nature of the fiscal stimulus discussion in the U.S. hardly inspires lasting confidence,” said Mizuho Bank in a report. “Uncertainty around the presidential election on 3 November will likely persist not only through to polling day but possibly after.”
The Shanghai Composite Index, resuming
NEW YORK (AP) — Stocks are rising on Wall Street Thursday as hope remains that Washington can approve more aid for the economy and after a report suggested the pace of layoffs is slowing a bit, though it remains incredibly high.
The S&P 500 was 0.5% higher in morning trading, tacking more gains onto Wednesday’s rise after President Donald Trump apparently backtracked on his decision to halt talks on more aid for the economy. He said in a televised interview Thursday morning that “very productive” talks have begun on stimulus.… Read More
Shares of Netflix (NFLX) – Get Report were higher Wednesday after the media-streaming major’s price target was raised to a Wall Street high $650 from $600 at Pivotal Research with a buy rating.
The new target indicates 28% potential upside from the stock’s Tuesday closing price. The stock recently was 3.1% higher at $521.50.
Netflix is in the middle of a “virtuous cycle” of subscribers paying for the company’s spending on new content, and that new content subsequently brings in more subscribers, Pivotal analyst Jeffrey Wlodarczak said in the note.
This cycle should help Netflix “remain as the dominant subscription-video-on-demand player for the foreseeable future,” Wlodarczak said.
Competition has increased as Comcast (CMCSA) – Get Report launched the Peacock streaming network and, to a lesser extent, from HBO Max (T) – Get Report and the return of sports, the analyst said.
“As NFLX continues
By Caroline Valetkevitch
(Reuters) – U.S. stocks ended down more than 1% on Tuesday after President Donald Trump said he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election.
Stocks were higher before the remarks, but reversed course after Trump made the comments on Twitter.
The S&P 500 fell to a session low shortly after the tweet, taking the index down more than 2% from its session high. Airline shares also tumbled, with United Airlines <UAL.N> ending down 3.6% on the day, and the Cboe Volatility index <.VIX> climbed to a session high.
“Much of the rally we’ve seen in the last week in particular was based on hopes for an additional stimulus package,” said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas. “There’s now a whole lot less reason to put money to work before the election.”
Cases of the
A women-run company led by investing titan Sallie Krawcheck, known as “the most powerful woman on,” is taking on the ambitious role of narrowing the gender wealth gap.
“There have been two big drivers of wealth in our country: one of which has been real estate, which people of color have been redlined out of, the other of which has been investing,” Krawcheck told CBS News’ Michelle Miller. “And women and people of color have been kept out from that.”
Thebetween men and women in the U.S. has been the subject of debate and countless campaigns for equality, and that wage gap is even steeper for women of color. That wage gap, coupled with women taking more time out of their careers to care for children and investing less than men, means that even women who successfully saved for retirement could find themselves
By Stephen Culp
NEW YORK (Reuters) – U.S. stocks closed lower on Friday as news that U.S. President Donald Trump tested positive for COVID-19 put investors in a risk-off mood and added to mounting uncertainties surrounding the looming election.
Tech shares weighed heaviest on the indexes, but the blue-chip Dow’s losses were mitigated by gains in economically sensitive cyclical stocks.
Despite Friday’s sell-off, the S&P and the Nasdaq both gained 1.5% on the week, while the Dow ended the session 1.9% higher than last Friday’s close.
Trump tweeted late Thursday that he had contracted the coronavirus and would be placed under quarantine, compounding the unknowns for an already volatile market.
But stocks pared losses after the White House provided assurances that Trump, while experiencing mild symptoms, is not incapacitated.
“This injects further uncertainty into the outcome of the election,” said Roberto Perli, head of global policy research at Cornerstone Macro
“At this point there is no indication that Trump’s positive COVID status will have a long-term effect on the economy, which ultimately drives the market,” said Jill Fopiano, chief executive of O’Brien Wealth Partners in Boston. “Of course this situation is rapidly changing, and we could be in for some short-term volatility until the situation stabilizes.”
Around 12:30 p.m. the Dow Jones industrial average was little changed, after falling as much as 1.6 percent earlier. The Nasdaq, filled with more volatile tech stocks, fell 1.6 percent.
Here’s a quick look at the mind-bending issues confronting investors.
Investors were already expecting the outcome of the November presidential vote to be chaotic, with delayed results and claims of fraud by the president if he appeared to be losing. That helped drive the Standard & Poor’s 500 index down nearly 4 percent last month, after five straight months of gains that
NEW YORK (AP) — U.S. stocks rallied on Wednesday, but only after zooming up, down and back up again in a fitting end to what was a wild month and quarter for Wall Street.
Prospects for additional support from Congress for the economy helped drive the day’s trading, as they have for weeks. The S&P 500 shot to a gain of as much as 1.7% after Treasury Secretary Steven Mnuchin told CNBC that he would talk with House Speaker Nancy Pelosi about a potential deal in the afternoon, “and I hope we can get something done.”… Read More
U.S. stocks climbed on Thursday, but only after pinballing through another shaky day of trading, as Wall Street waits to see if Washington can get past its partisanship to deliver another economic rescue package.
The S&P 500 ended the day 17.80 points higher, or 0.5%, at 3,380.80, but it careened from an early 1% gain to a slight loss before arriving there.
The Dow Jones Industrial Average rose 35.20 points, or 0.1%, to 27,816.90 after earlier bouncing between a gain of 259 points and a loss of 112. The Nasdaq composite rose a healthier 159.00 points or 1.4%, to 11,326.51 as big tech-oriented stocks propped up the market, much as they have through the pandemic.
Such big swings have become typical recently, as investors handicap the chances of a deal on Capitol Hill to