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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


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 16, 2020
Oil prices notch a second straight weekly climb
Oil futures ended a bit lower on Friday, but scored a second straight weekly gain. Concerns that the global rise in COVID-19 cases will spur new economic shutdowns that lead to lower energy demand put pressure on prices, but support came from a bigger-then-expected weekly fall in U.S. crude supplies and fresh signs of OPEC 's commitment to production cuts. November West Texas Intermediate crude fell 8 cents, or 0.2%, to settle at $40.88 a barrel on the New York Mercantile Exchange. For the week, front-month prices rose 0.7% for the week.

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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