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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.



MarketWatch MarketPulseOct 20, 2020
Dow gains at Tuesday's open as coronavirus relief package deadline and vaccines come into focus
U.S. stock benchmarks on Tuesday kicked off trade modestly higher, as stocks attempted to recover from the worst daily percentage decline in about a month. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have indicated that differences in negotiations toward a sweeping coronavirus aid package are "narrowing," with a self-imposed deadline of end of day Tuesday looming. Both sides said they are continuing to work on the matter, which the market views as crucial to supporting further gains. Meanwhile, Moderna Inc. said that it could seek emergency authorization for its vaccine candidate before the end of the year, joining Pfizer Inc. , which last week said that it would have its experimental drug ready before the the end of 2020. The Dow Jones Industrial Average was up 112 points, or 0.4%, at 28,310, the S&P 500 index was trading 0.5% higher at 3,444, while the Nasdaq Composite Index was advancing 0.5% at 11,540, at last check. Markets finished Monday action with their worst percentage declines since late September.

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.



MarketWatch MarketPulseOct 20, 2020
IBM's stock is the lone Dow decliner, would cut about 30 points off the Dow's price
Shares of International Business Machines Corp. dropped 3.7% in premarket trading Tuesday, and was the only decliner among Dow Jones Industrial Average components ahead of the open, after the technology giant reported another quarterly revenue decline and didn't provide financial guidance. The stock's implied price decline would shave about 30 points off the Dow's price, while Dow futures rose 103 points, or 0.4%. Wedbush analyst Moshe Katri said the third-quarter results, which were reported late Monday, were "mixed," as the net result continues to be "lackluster revenue growth and inconsistent margin performance." The stock has lost 6.4% year to date through Monday, while the Dow has eased 1.2%.

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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