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KiplingerOct 20, 2020
Stock Market Today: Glimmer of Stimulus Hope Gives Stocks a Small Lift
When is a deadline not a deadline? Apparently - and fortunately, for the stock market - when it relates to politicians passing a stimulus deal.

House Speaker Nancy Pelosi on Tuesday walked back her comments setting a hard deadline of today to strike an agreement, but for reasons most investors could get behind. That is, Democrats and the White House are said to be nearing a middle ground in their negotiations, and Pelosi had a 3 p.m. talk set with Treasury Secretary Steven Mnuchin.

SEE MORE 25 Stocks That Billionaires Are Selling Also helping buoy spirits were a few strong results from the third-quarter earnings slate.

Insurer Travelers (TRV, 5.6%) posted Street-beating profits despite higher-than-usual catastrophe losses. And Procter & Gamble (PG, 0.4%) enjoyed higher demand for cleaning and laundry products, which lifted the company's sales and earnings ahead of estimates.

"PG has been building momentum longer than most of its peers and well before Covid-19 hit, which is one reason we view PG as a post-pandemic winner," writes CFRA analyst Arun Sundaram, who rates PG shares at Buy. "Additionally, the investments PG has made in its brands, capabilities, and organization are just beginning to pay off and should manifest into more market share gains."

The Dow Jones Industrial Average closed up 0.4% to 28,308, while the S&P 500 ( 0.5% to 3,443) and Nasdaq ( 0.3% to 11,516) also headed to higher gro


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Stocks rebound to end higher on stimulus hopes, earnings (MarketWatch MarketPulse)

MarketWatchOct 20, 2020
Need to Know: ‘The dot-com bubble on steroids': Why technology stocks can keep going a while longer, strategists say
Stocks are being driven higher at the start of the week by the same old hopes of a new U.S. stimulus deal.

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.



Yahoo BusinessOct 20, 2020
Stocks on the Move: Intel stocks dip on selling its flash memory business, The Travelers Companies trading higher on Q3 earnings results
Yahoo Finance's On the Move panel discuss today's Stocks on the Move: Intel, The Travelers Companies.

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