Stocks Drop With Stimulus on Hold as Banks Tumble: Markets Wrap

(Bloomberg) — Stocks fell on speculation that their recent rally has outpaced prospects for a quick end to the stalemate over fresh economic stimulus. Treasuries and the dollar climbed.



A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan, on Thursday, Sept. 17, 2020. Japanese stocks were set for their fourth straight weekly gain, the longest winning streak since November, as investors moved back in following this week’s central bank rate decisions at home and in the U.S.


© Bloomberg
A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan, on Thursday, Sept. 17, 2020. Japanese stocks were set for their fourth straight weekly gain, the longest winning streak since November, as investors moved back in following this week’s central bank rate decisions at home and in the U.S.

Banks led losses in the S&P 500, with JPMorgan Chase & Co. and Citigroup Inc. sinking even after better-than-expected earnings, as investors worried that the quarter signaled just a pause in pain from soured loans. Tech shares outperformed as Apple Inc. unveiled its iPhone 12 line with 5G speeds and Amazon.com Inc.’s Prime Day sale kicked off. Delta Air

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GLOBAL MARKETS-Asian stocks set to rise as tech, stimulus hopes fuel global rally

By Suzanne Barlyn

NEW YORK, Oct 12 (Reuters)Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

Shares in Apple Inc AAPL.O surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon AMZN.O rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a more challenging economic environment,” Felsman said.

On Wall Street, the Nasdaq Composite .IXIC on Monday staged its biggest one-day rally in a month, jumping

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Asian stocks set to rise as tech, stimulus hopes fuel global rally

By Suzanne Barlyn



a person holding a sign: People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo


© Reuters/ATHIT PERAWONGMETHA
People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo

NEW YORK (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

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Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a

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Dow gains 251 points as tech giants rally and stimulus hopes persist


  • US stocks rose on Monday as Democrats and Republicans inched closer to a stimulus compromise.
  • Mega-cap companies including Apple and Amazon led indexes higher as investors rushed to the growth favorites.
  • President Trump urged Republicans to speed up Amy Coney Barrett’s confirmation to the Supreme Court so that they can pass a new stimulus bill before Election Day.
  • Investors also prepared for earnings season. Citigroup and JPMorgan are set to kick off reporting on Tuesday.
  • Oil futures sank as operations temporarily halted by Hurricane Delta resumed. West Texas Intermediate crude fell as much as 3.8%, to $39.04 per barrel.
  • Watch major indexes update live here.

US equities extended their rally into a new week as investors pushed tech giants higher.

Apple surged ahead of a Tuesday event widely expected to unveil the next generation of iPhones. Amazon climbed as it kicked off its Prime Day sale

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Tech stocks extend Wall Street rally on stimulus hopes

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(Reuters) – Wall Street’s main indexes rose for a fourth straight session on Monday, helped by a tech boost and on optimism that Washington would reach a deal over more fiscal support, with investors also gearing up for the third-quarter corporate earnings season.

Apple Inc was a major support for the three main stock indexes with a 3.6% gain ahead of a special event on Tuesday, which most analysts believe will be used to unveil the new iPhone with 5G capabilities.

Amazon.com Inc climbed 3.5% ahead of its annual Prime Day shopping event on Oct. 13 and 14.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

“The widening lead for the Democrats lessens the likelihood of

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Stocks Climb Again on Wall Street With Hopes for Stimulus | Business News

By STAN CHOE, AP Business Writer

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.

Other U.S. and global stock indexes were also higher, but the last few weeks of trading have shown repeatedly that early gains for the market don’t always last. Stocks have been particularly rocky since early September, swerving on worries about everything from too-expensive prices to the still-raging pandemic, but the index has been generally

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EMERGING MARKETS-Thai shares gain for fourth day on stimulus push; Philippines steadies

By Shruti Sonal

Oct 8 (Reuters)Thai stocks climbed 1% on Thursday as the government outlined measures to boost consumption in its coronavirus-battered economy, while a late recovery helped Philippine shares edge up in tandem with gains in most of Asia’s emerging markets.

The safe-haven U.S. dollar nursed losses after the revival of hopes for some stimulus spending in the world’s biggest economy improved investor sentiment, supporting local currencies in Asia, which edged higher. The Taiwan dollar TWD=TP was again the main standout, rising almost 1%.

Thailand’s benchmark index .SETI hit its highest in more than two weeks after officials on Wednesday added a tax deduction on purchases of goods and services to previously announced cash handouts and subsidies.

The tourism-reliant economy has also started receiving its first visitors after months of travel curbs and its markets have proven relatively immune to growing protests against the army-backed government.

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EMERGING MARKETS-Thailand gains after govt adds tax deduction to stimulus push

By Shruti Sonal

Oct 8 (Reuters)Thai stocks climbed nearly 1% on Thursday as the government took measures to boost consumption in its coronavirus-battered economy, leading gains across a handful of Asia’s big emerging markets.

With markets globally eyeing a tumultuous U.S. election campaign and roadblocks in passing stimulus in the world’s biggest economy, currencies across the region were subdued, with the Taiwan dollar again the main standout, rising almost 1%.

Thailand’s benchmark index .SETI hit its highest in over two weeks after officials added a tax deduction on purchases of goods and services to cash handouts and subsidies announced last month.

Deputy Prime Minister Supattanapong Punmeechaow said altogether the measures would push about 200 billion baht ($6.4 billion) into the economy in the last three months of this year.

The tourist-heavy economy has started receiving its first visitors this week after months of travel curbs and its

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Trump’s stimulus bill bombshell puts new pressure on an ailing economy. Here’s the latest

President Donald Trump’s call for an end to stimulus negotiations on a new stimulus bill presented a new wrinkle in the story of the country’s economic recovery from the deep financial fissures of the ongoing coronavirus pandemic. His tweet a few hours later urged Congress to pass several of the stimulus measures that had been part of those very discussions. Neither political analysts nor many of the millions who’ve suffered financial calamity on account of the pandemic seem to know what to make of the president’s messaging.



a pair of scissors: Americans are cutting back on spending as they plan for a recession that might not end until the coronavirus pandemic is over. Angela Lang/CNET


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Americans are cutting back on spending as they plan for a recession that might not end until the coronavirus pandemic is over. Angela Lang/CNET



a pair of scissors


© Angela Lang/CNET


The stimulus package that had been under negotiation was expected to include a second stimulus check and renewed enhanced unemployment benefits. Without it, many of those hit hardest by the

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Technology Unabashed by the Absence of Stimulus: 5 Top Picks

On Oct 6, in a sudden turn of the event, President Donald Trump abruptly halted the ongoing negotiation between the Republicans and Democrats on the second round of fiscal stimulus. This unnerved market participants and stock markets immediately turned red from the positive zone.

The Dow, the S&P 500 and the Nasdaq Composite — lost 1.3%, 1.4% and 1.6%, respectively, despite the fact that all these indexes were in the green just before Trump’s tweet. Investors remained highly concerned about the pace of the U.S. economic recovery.

Notably, the first trench of the fiscal stimulus — known as CARES Act — ended in July. Despite two months of prolonged negotiations, the U.S. Congress failed to reach an amicable solution related to the size and scope of a fresh round of coronavirus-aid.

Moreover, one of the primary reasons for Wall Street’s sharp downturn in September after a five-month-long rally is the

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