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MarketWatch MarketPulseOct 20, 2020
Stocks rebound to end higher on stimulus hopes, earnings
U.S. stocks closed higher Tuesday as investors remained optimistic about the prospects of additional fiscal aid from Washington. The Dow Jones Industrial Average added about 113 points, 0.4%, to close near 28,308, according to a preliminary reading, while the S&P 500 gained 16 points, 0.5%, closing near 3,443. The Nasdaq Composite was up 38 points at the close, a gain of 0.3%, at 11,516. House Speaker Nancy Pelosi on Tuesday downplayed an earlier deadline she'd set to conclude negotiations over a stimulus package, as Democrats and Republicans continued to speak. Meanwhile, corporate earnings remain mixed: Shares of grocery chain Albertsons Cos. Inc. jumped nearly 6% after reporting better-than-expected earnings and offering bullish guidance. But International Business Machines Corp. said its revenue fell in the third quarter.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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