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KiplingerOct 23, 2020
Stock Market Today: Stimulus Stalemate Stalls Stocks
The market was mixed Friday as investors weighed the stalemate over stimulus and some disappointing quarterly reports from major blue chips. Lawmakers' back-and-forth over a deal to pump trillions more into the economy to soften the blow of the pandemic has been a running theme for stocks.

SEE MORE 25 Dividend Stocks the Analysts Love the Most On a more granular level, Intel (INTC) fell 11% after posting earnings late Thursday that revealed a surprise drop in revenue in its critical server business. Meanwhile, American Express (AXP) shed 3.7% after missing analysts' average earnings estimate. Both stocks are members of the Dow Jones Industrial Average, which closed down 0.1% to 28,335. 

"Stocks finished slightly lower, on average, following a string of choppy sessions, with several sudden intraday shifts making traders dizzy on Wall Street," said Gorilla Trades strategist Ken Berman.

"The pressure of the looming elections, the stimulus saga continued throughout the week, the second European COVID wave got even worse, while the number of cases crept higher in the U.S. as well," added Berman. "But the pressure on the domestic healthcare system remains manageable and the economic recovery seems to be on track."

Other action in the stock market today:

The S&P 500 rose 0.3% to 3,465.The Nasdaq Composite added 0.4% to finish at 11,548. The small-cap Russell 2000 inched up 0.6% to 1,640. Have Your Cake and Eat It Too with Mid-Cap Stocks As we await outcomes to the stimulus negotiations


MarketWatch MarketPulseOct 23, 2020
Dow ends slightly lower as benchmarks book weekly losses
The Dow Jones Industrial Average ended slightly lower Friday, with major benchmarks logging modest weekly declines as efforts toward a new round of coronavirus aid spending out of Washington failed to yet bear fruit. The Dow fell around 27 points, or 0.1%, to end near 28,337, according to preliminary figures, while the S&P 500 gained 12 points, or 0.4%, to close around 3,466. The Nasdaq Composite ended near 11,548, up 42 points, or 0.4%. The Dow lost 0.9% for the week, while the S&P 500 was down 0.5% and the Nasdaq lost 1.1%.

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 23, 2020
Tesla Claims China Caused Unnecessary Recall
Earlier Friday morning, it was reported that Tesla Inc (NASDAQ: TSLA) would be recalling 30,000 Model S and X vehicles in China. This was due to suspension issues and was being forced by the Chinese government. Now, a letter obtained by Electrek shows Tesla thinks there is no defect, and no recall is needed.The letter is from Elizabeth H. Mykytiuk, Tesla's managing counsel for regulatory affairs, shows Tesla didn't think the recall was necessary, but it was the easier choice when compared with battling through China's regulatory body that asked for the recall."Due to the opinion of SAMR/DPAC that the topic required a recall in the China market, Tesla was left with the choice of either voluntarily recalling the subject vehicles or carrying a heavy burden through the Chinese administrative process," the letter reportedly reads. "While Tesla disagrees with the opinion of SAMR/DPAC, the Company has decided not to dispute a recall for the China market only."Tesla said that the failure pointed out by Chinese regulators happened in less than 0.05% of vehicles outside of China vs about 0.1% of vehicles in China. Electrek reported in 2016 that the NHTSA has investigated a potential issue in Tesla's Model S and Model X suspension, but they didn't find any defect.Photo courtesy of Tesla.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Tesla Hacker Discovers New Radar, Ultrasonic Sensors, More * GM Reportedly Does Not Yet Have A Working Hummer EV(C) 2020 Benzinga.com. Benzinga do

MarketWatch MarketPulseOct 23, 2020
Stocks open slightly higher as Wall Street on pace for small weekly loss
U.S. stocks saw a positive start on Friday as investors eyed the chances of a fiscal aid package being passed before the presidential election. The S&P 500 rose 0.3% to 3,463. The Nasdaq Composite was up 0.1% to 11,518. The Dow Jones Industrial Average advanced 43 points, or 0.2%, to 28,407. Even if lawmakers are unable to achieve a deal before the Nov. 3 election, analysts say next year will likely see a deluge of deficit spending by either party that could aid the U.S. recovery. Shares of Intel Corp. fell 11% after the company late Thursday said revenue sank more than expected in the third quarter as sales of server chips suffered.

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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