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Wall Street ends higher after shaking off a wobbly start

WorldNews Friday, 30 October 2020
Wall Street ends higher after shaking off a wobbly startU.S. stocks shook off an early slide and closed broadly higher Thursday as the market steadied after its worst drop in more than four months. The Standard & Poor’s 500 index rose 1.2%, bouncing back from a drop of 0.3% in the early going. Traders welcomed encouraging data on the pace of layoffs and how powerfully the economy rebounded during the summer from its coronavirus-induced coma. Economists warn big challenges still lie ahead, though. The S&P 500 was coming off a 3.5% tumble Wednesday on worries the worsening pandemic will drag down the economy and corporate profits again. A strong rebound in technology sector stocks helped power the rally ahead of widely anticipated quarterly...
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Wall Street too giddy over vaccines: economist [Video]

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S& P 500, Nasdaq stock indexes close at record highs

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On Friday, US stocks made gains as hopes for a peaceful transition to the Biden administration offset concerns about soaring COVID-19 cases. Business Insider reports S&P 500 closed at a record high. On Thursday Pres. Donald Trump said he'd hand over power when the Electoral College certifies President-elect Joe Biden as the winner of the 2020 election. The US reported 125,082 new coronavirus cases on Thursday. That brought the seven-day average to 163,831, according to the COVID Tracking Project. Deaths topped 254,000, and hospitalizations jumped above 90,000. The stock market's "fear gauge" fell as low as 19.51 on Friday, dropping amid low trading volumes to its lowest level since the pandemic began.

Credit: Wochit News    Duration: 00:42Published
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Credit: Reuters Studio    Duration: 01:38Published
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The S&P 500 and the Dow retreated Wednesday as a surprise rise in weekly jobless claims added to signs the recovery of the labor market was stalling amid a surge in COVID-19 infections. Fred Katayama reports.

Credit: Reuters Studio    Duration: 01:41Published

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