The Dow and S&P 500 fell on lackluster earnings, election worries and rising COVID-19 cases worldwide, but tech stocks fared better and had positive news after the close when Microsoft topped sales forecasts. Conway G. Gittens has the market action.
U.S. stocks tumbled on Monday, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the U.S. economic recovery. This report produced by Yahaira Jacquez.
JPMorgan Chase & Co said on Thursday it would commit $30 billion to address racial inequality over the next 5 years, marking one of the largest corporate pledges related to race since the death of George Floyd. Freddie Joyner has more.
On Tuesday, JPMorgan's Grace Peters told CNBC's "Squawk Box Europe" the S&P 500 could hit 3,750 by September 2021. Business Insider reports that would represent a 12% premium over Tuesday's closing price of 3,335.47. On the outlook for US stocks, she said, "We can see around a 10% upside over a 12-month view." Peters said investors should look at areas that have seen "structural growth" like construction, healthcare, and digital-transformation.