Project Description
US
S&P500 -0.53% (3,465.39); NASDAQ -1.06% (11,548.28); DJIA -0.95% (28,335.57)
This week’s reports
US:
- US stock markets fluctuated throughout the week in reaction to uncertainty in the US over reaching an agreement for fiscal stimulus before the November 3 presidential election. Major indexes rose on Friday on strong jobless claims figures and better-then-expected economic data, but not enough to take them out of the red for the week.
- Investors are increasingly optimistic that a second dose of stimulus will be delivered, even if many think the chances of a deal before the election are slim. Meanwhile, officials in the House of Representatives, the Senate, and the White House, continue negotiations over a nearly $2 trillion coronavirus-relief package, which many investors view as crucial to maintaining the economic recovery.
- Stocks in sectors that are sensitive to the outlook for the economy, including energy and banks, outperformed this week on optimism that a fiscal package is coming sooner or later. Information-technology stocks faltered as the investors awaited their quarterly-earnings reports that are due next week.
Europe:
- European stocks rose on Friday, boosted by positive earnings updates from Barclays and a surge in Airbus, but persistent worries about the economic impact of surging COVID-19 cases saw markets post their biggest weekly decline in a month. As economic restrictions in Europe continued to tighten, consumer confidence measures slipped.
Emerging Markets:
- Emerging market stocks rose for a fourth week as US lawmakers negotiated a stimulus agreement. The rally was tempered by rising virus cases around the world.