Stocks Climb, Led by Big Tech; Crude Oil Declines: Markets Wrap

(Bloomberg) — U.S. stocks advanced, led by gains in the biggest technology companies, as investors weighed the chances Democratic lawmakers and the White House will reach a deal for a fiscal-stimulus package. Oil tumbled on concern the market may be oversupplied.

The Nasdaq 100 headed for its biggest gain in a month as Amazon.com, Microsoft and Tesla advanced. The S&P 500 Index’s advance was limited by declines in energy producers. Trading was volatile, with stocks pushed around by the latest developments tied to efforts to forge a stimulus bill acceptable to Democrats and Republicans. Talks were set to continue Thursday as officials sought a breakthrough.

European stocks closed slightly higher. Gold advanced, while Treasuries held steady. Oil tumbled to about $39 a barrel on concern about oversupply amid sluggish economic growth.



Dollar gauge posts worst quarter in more than three years


© Bloomberg
Dollar gauge posts worst quarter in more than three years

U.S. stock markets have been whipsawed this

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EMERGING MARKETS-Asia lower, Thai baht declines ahead of c.bank decision

    * Graphic: World FX rates tmsnrt.rs/2egbfVh
    * Graphic: Foreign flows into Asian stocks tmsnrt.rs/3lKhL5I
    * Ringgit falls after Anwar claims parliamentary majority
    * Thai central bank decision around 0700 GMT

    By Anushka Trivedi
    Sept 23 (Reuters) - Asian emerging currency and stock
markets lost more ground on Wednesday, with the Thai baht
suffering from concerns about a struggling economy while the
Malaysian ringgit fell after opposition leader Anwar Ibrahim
claimed he had a majority in parliament.
    This week's strength of the U.S. dollar continued to weigh,
with the Taiwanese dollar a consistent outperformer,
thanks to its tech-heavy economy, again the only outlier. 
    Stock markets were all down across the board, led by
Malaysia, with India bucking the trend thanks to signs
of more deals for the energy-to-retail conglomerate Reliance
, already the subject of major investment from
Facebook, Google and other big foreign players this year.

    The ringgit fell 0.7% 
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The Latest: Judge declines to stay ruling on PA crowd size

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A civic staff in protective suit arrives to disinfect an apartment where one of the residents tested positive for COVID-19 in Kolkata, India, Tuesday, Sept. 22, 2020. The nation of 1.3 billion people is expected to become the coronavirus pandemic’s worst-hit country within weeks, surpassing the United States.

AP

Pittsburgh — A federal judge on Tuesday declined to stay his own ruling that Gov. Tom Wolf’s size limits on gatherings are unconstitutional.

U.S. District Judge William Stickman IV said the administration had failed to show “imminent and irreparable harm will occur” if the state can’t limit event crowds to 25 people inside and 250 people outside.

State officials had asked Stickman, an appointee of President Donald Trump, to delay enforcement of his ruling while they appeal.

Stickman’s ruling invalidated key parts of the Wolf administration’s early pandemic response, including his orders requiring people to stay at home and

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