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

Read More

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

Read More

Stocks Rise as Dip Buying Tempers Stimulus Concern: Markets Wrap

(Bloomberg) — Stocks climbed as dip buyers emerged after the market slide, tempering concern over a cloudy outlook for a U.S. stimulus package.

Loading...

Load Error

The S&P 500 rebounded from session lows and the Nasdaq 100 outperformed as giants Apple and Tesla jumped at least 2.1%. Industrial, consumer-discretionary and financial shares also gained. Carnival and Royal Caribbean Cruises rallied after being upgraded at Barclays, which said the “worst is in the past” for cruise companies. The benchmark gauge was still on track for its fourth straight weekly decline — the longest losing streak since August 2019. The dollar headed toward its best week since April.

Equities fell earlier Friday as a last-ditch attempt by Democrats and the White House to restart negotiations on new stimulus drew skepticism in Congress that a deal could be reached and written into law by the November election. There’s a perception that the two sides

Read More

Stocks Pare Losses as Tech Rally Tempers Bank Rout: Markets Wrap

TipRanks

These 2 Penny Stocks Could Rally All the Way to $11, Says Cantor

Is more volatility on tap for stocks? Following a three-week losing streak, the longest in about a year, all eyes are on the market. The three major U.S. stock indexes have struggled for the last few weeks as the titans of tech, which have fueled the charge forward from COVID-induced lows, came under pressure due to overheated valuations, with market watchers waiting to see how renewed lockdown fears will come into play.So, what’s the bottom line for investors? Even though uncertainty remains as Wall Street gears up for the fourth quarter, the pros are pounding the table on a select few names, noting that these tickers boast strong long-term growth narratives.Bearing this in mind, our focus shifted to two penny stocks backed by investment firm Cantor. Major gains could be in store, as the firm’s analysts

Read More