Wall Street closes broadly higher on deal news, Covid-19 vaccine hopes

Futures lifted by M&A activity vaccine hopes

Futures lifted by M&A activity vaccine hopes Sheboygan WI USA 1330 & 101.5 WHBL Syndicated Content Sep 14 2020 6:01 AM

Wall Street is coming off of two straight weeks of losses, as investors sold heavyweight technology shares such as Apple Inc and Amazon.com Inc that had powered the market's strong rally since March.

Goldman Sachs forecasts that the S&P 500, which came within 20 points of the 3,600 year-end target before retreating, will rise to 3,600 by the end of the 2020 and 3,800 by mid-year 2021, driven by improving earnings prospects and a declining risk premium.

Apple shares slid 1.31 per cent.

"The tail-end of last week seemed to indicate a continued wobble in market sentiment that appears to be finding some more solid footing this morning", said Yousef Abbasi, global market strategist at StoneX Group Inc in NY.

Zack Snyder's Justice League Might Be Called 'Justice League: Director's Cut'
Elfman's score, as far as I remember, was just fine, despite the exciting inclusion of his iconic Batman theme. Here is the part that is somewhat painful, to people.

"Just because we shaved 10 or 11 percent off the NASDAQ in three days doesn't mean that is the end of the nervousness and that is kind of where we are right now", Hogan said.

The path of least resistance for stocks is volatile and probably a bit lower from here, said Art Hogan, chief market strategist at National Securities in NY.

Amazon fell 1.86 per cent. "And we'll see more and more headlines", on that going forward, said Tim Ghriskey, chief investment strategist at Inverness Counsel in NY.

S&P 500 ended the day nearly flatlined to 3,340.97 and Dow gained 0.48 per cent to 27,665.64, while the tech-heavy Nasdaq shed 0.6 per cent to round off the day at 10,853.55. For the week, the Dow shed 1.7%, while the S&P 500 fell 2.5% and the Nasdaq dropped 4.1% Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

Sévérac-d’Aveyron. 8 décès à l’EHPAD Gloriande, le point sur la situation
Trois résidents d'une maison de retraite de Séverac-d'Aveyron sont décédés après avoir été contaminés par le Covid-19. 49 des 75 résidents de l'Ehpad Gloriande de Séverac-d'Aveyron sont, samedi 12 septembre, positifs au Covid-19.

Industrials and financial stocks, up 1.39 percent and 0.76 percent respectively on Friday, provided the biggest boost to the benchmark index.

Gains in Home Depot Inc and Caterpillar Inc, up 1.33 percent and 2.65 percent respectively, led the Dow industrials to close up. The tech index added 2.4%, more than any other major S&P sector.

Nonetheless, the trade-sensitive Dow had managed to secure an affirmative territory followed by the release of an upbeat U.S. consume prices data, as USA food prices had surged by the most in 29 years last month, while the used vehicle prices rose by 5.4 per cent in August to score its largest gain in more than five decades. Peloton surged on Friday after the fitness company cruised to its first quarterly profit on the back of increased spending on its bikes and treadmills during the COVID-19 pandemic.

Advancing issues outnumbered decliners by a 4.90-to-1 ratio on the NYSE and by a 3.75-to-1 ratio on the Nasdaq. Volume on USA exchanges was 8.72 billion shares, compared with the 9.28 billion average for the full session over the last 20 trading days.

Iran planning to kill United States envoy to South Africa
Marks has been made aware of the threat from Iran, according to Politico , but it remains unclear why she is being targeted. At the time, Secretary of State Mike Pompeo said the US killed Soleimani to reestablish deterrence against Iran.

The S&P 500 posted five new 52-week highs and one new low; the NASDAQ Composite recorded 25 new highs and 37 new lows.

Latest News