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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

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