Wall Street closed out its best week in three months Friday as investors drew encouragement from ongoing negotiations on Capitol Hill aimed at delivering more aid to the ailing U.S. economy.
The S&P 500 rose 0.9%, its third straight gain. The benchmark index ended the week with a 3.8% gain, its strongest rally since early July.
Much of this week’s focus has been on Washington, where President Donald Trump sent markets on a sudden skid Tuesday after he halted negotiations on a support package for the economy until after the election. He appeared to change his mind a few hours
The S&P 500 rose 30.31 points to 3,477.14. The Dow Jones Industrial Average gained 161.39 points, or 0.6%, to 28,586.90. The gain nudged the Dow into positive territory for the year. The Nasdaq composite climbed 158.96 points, or 1.4%, to 11,579.94.
Small-company stocks added to their solid gains this week. The Russell 2000 index picked up 9 points, or 0.6%, to 1,637.55. The index jumped 6.4% this week.
Investors have been clamoring for more federal aid since the expiration of extra benefits for laid-off workers and other stimulus for the economy that Congress approved earlier this year. Economists say the outlook is grim without such support, and the chair of the Federal Reserve has said repeatedly it will likely be necessary.
Still, the prospects for a new deal on more aid have been shaky, especially this week.
Trump said that House Speaker Nancy Pelosi was negotiating in bad faith when
It was a Friday morning, and eight members of the sales staff at Felix Chevrolet were gathered around the table for a weekly seminar led by Darryl Holter, the boss of the venerable downtown Los Angeles dealership.
This may be one of the more unusual educational efforts in Southern California. The students get weekly reading assignments, on which they’re quizzed, just as in regular schools. But the topic is unusual: how to sell customers on electric cars.
The working-class Latinos who make up Felix’s core market haven’t been early adopters of novel products such as EVs. The obstacles include the perception that EVs as more expensive than conventional cars — that’s true, before government and retailer incentives are counted.
They’re also skimpier on range. While a gasoline car can run 350 miles or more on a single fillup, EVs generally
Oct 9 (Reuters) – Wall Street’s main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month’s presidential election.
After stalling talks on a comprehensive aid package earlier this week, U.S. President Donald Trump on Thursday called for a “skinny” relief bill that would include elements such as direct payments and a bailout to the struggling airline sector.
Shares of JetBlue Airways Corp JBLU.O, Delta Air Lines Inc DAL.N, American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O edged higher in premarket trading.
“The market is continuing to rise on hopes of some sort of a conclusion (on stimulus), not only to the airlines, but to the rest of the country,” said
Accenture plc ACN yesterday announced that it has inked a deal to acquire Myrtle Consulting Group, an industrial operations consulting firm. The deal closure is subject to customary closing conditions. Financial terms of the deal have been kept under wraps.
Headquartered in Houston, TX, Myrtle specializes in optimizing clients’ production, supply-chain operations, sourcing and execution. The company is also equipped with change management methodology, organization design and implementation, leadership development, and frontline coaching services.
Edwin Bosso, CEO and founder of Myrtle, will be joining Accenture as managing director. Employees of Myrtle will join Accenture Industry X.
Over the past six months, shares of Accenture have gained 28.3% compared with 26.6% rise of the industry it belongs to and 24.1% growth of the Zacks S&P 500 composite.
How Will Accenture Benefit?
The buyout will help Accenture boost its manufacturing and supply-chain capabilities. It is likely to enhance Accenture’s potential to transform
The stock market was volatile on Tuesday after posting solid gains to start the week. The Dow Jones Industrial Average(DJINDICES: ^DJI) was up 0.37% at 1:10 p.m. EDT today, outperforming the other major indexes.
One thing keeping the stock market in check could be comments from Federal Reserve chairman Jerome Powell, who warned on Tuesday that too little government aid would lead to a weak economic recovery. Congress has yet to agree on additional stimulus measures, and an agreement does not appear close.
Shares of Boeing(NYSE: BA) were moving in the wrong direction on Tuesday after the airplane manufacturer predicted a difficult decade ahead. Meanwhile, the stock of Walmart(NYSE: WMT) was little changed after the retailer announced an insurance brokerage business.
Image source: Getty Images.
Boeing forecasts tough years ahead
The coronavirus pandemic has greatly reduced demand for air travel. While the number of daily air passengers