Strong gains for technology stocks send Wall Street higher

NEW YORK — Stocks marched higher again on Monday, as Wall Street extended its gains from last week’s rally, the market’s best in three months.

The market’s latest upward push came as Wall Street appeared to largely shrug off the latest signs that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president’s fellow Republicans called it too expensive.

Investors may

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Wall Street Adds More Gains to Last Week’s Rally; Tech Leads | Business News

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.

The S&P 500 was 1.8% higher, following up on strengthening in stock markets around the world. The Dow Jones Industrial Average was up 308 points, or 1.1%, at 28,895, as of 12:35 p.m. Eastern time, and the Nasdaq composite was 2.6% higher.

The gains are being driven mostly by Big Tech stocks, whose businesses have proven to be practically impervious to the pandemic, rather than companies that would benefit from a strengthening economy.

Apple climbed 5.4% and alone accounted for nearly a quarter of the S&P 500’s rise. Amazon gained 5.1%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime

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Wall Street adds more gains to last week’s rally; tech leads

NEW YORK (AP) — Wall Street is pushing higher in Monday morning trading and tacking more gains onto last week’s rally, its best in three months.

The S&P 500 was 0.9% higher, following up on strengthening in stock markets around the world. The Dow Jones Industrial Average was up 165 points, or 0.6%, at 28,752, as of 10:23 a.m. Eastern time, and the Nasdaq composite was 1.4% higher.

Monday’s market gains were driven mostly by Big Tech stocks, whose businesses have proven to be practically impervious to the pandemic, rather than companies that would benefit from a strengthening economy.


Apple rose 3.4% and alone accounted for nearly a quarter of the S&P 500’s rise. Amazon gained 3.3%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime Day on Tuesday and Wednesday.

Microsoft also climbed

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Wall Street adds more gains to last week’s rally; tech leads | Business

NEW YORK (AP) — Wall Street is pushing higher in Monday morning trading and tacking more gains onto last week’s rally, its best in three months.

The S&P 500 was 0.9% higher, following up on strengthening in stock markets around the world. The Dow Jones Industrial Average was up 165 points, or 0.6%, at 28,752, as of 10:23 a.m. Eastern time, and the Nasdaq composite was 1.4% higher.

Monday’s market gains were driven mostly by Big Tech stocks, whose businesses have proven to be practically impervious to the pandemic, rather than companies that would benefit from a strengthening economy.

Apple rose 3.4% and alone accounted for nearly a quarter of the S&P 500’s rise. Amazon gained 3.3%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime Day on Tuesday and Wednesday.

Microsoft also climbed

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Sheffield hair salon slams West Street drinkers and hopes ‘cheap Prosecco offers were worth it’

The businesswoman, who owns Creator Hair/The Blow, said she expects to have to temporarily close her salon when new Covid restrictions are announced today.

Prime Minister Boris Johnson is set to introduce extra restrictions in some towns and cities in the North to try to halt the spread of the virus as infection rates continue to rise.

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The owner of Creator Hair has criticised revellers who have continued to socialise in Sheffield during the coronavirus pandemic
The owner of Creator Hair has criticised revellers who have continued to socialise in Sheffield during the coronavirus pandemic

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This when Boris Johnson will announce new local lockdown restrictions today

In a Facebook post on her business page on Saturday night, the owner of Creator Hair/ The Blow branded some of the scenes she witnessed last week on West Street, where her salon is located, as a ‘disgrace’.

Despite social distancing rules being in place and

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State Street and SimCorp form business partnership


State Street Corporation (NYSE: STT) and investment management solutions and service provider, SimCorp (OMXC25: SIM), today announced their intent to form a business partnership to provide a premier, fully integrated, front-to-back investment outsourcing solution for insurance firms in Europe, Middle East and Africa (EMEA).

EMEA-based insurance companies will have access to SimCorp Dimension’s cloud-based, multi-asset class capabilities, advanced accounting functionality and managed services, together with State Street’s leading data management, middle office and custody services on the State Street AlphaSM platform. Consistent with the Alpha platform commitment to provide clients access to leading capabilities through an open architecture, this partnership will integrate SimCorp Dimension with State Street’s proprietary software solutions including Charles River Development.

The solution comes as EMEA insurers face increasing pressure due to low returns, a decline in interest rates, increased regulatory burden and rising technology costs. The new partnership from State Street and SimCorp addresses operational

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Wall Street finishes up as stimulus talks continue

(Reuters) – U.S. stocks rose on Friday and the S&P 500 and Nasdaq registered their biggest weekly percentage gains since July as optimism over more federal fiscal aid grew.

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 28, 2020. REUTERS/Lucas Jackson

Talks were expected to continue on a COVID-19 stimulus package, even though U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed on Friday to reach agreement.

Mnuchin floated a new proposal Friday afternoon, but an aide for Pelosi said it lacked a broad plan to contain the pandemic.

Recent trading on Wall Street has been dictated by headlines on fiscal aid, with the three main indexes tumbling on Tuesday after U.S. President Donald Trump called off negotiations. He has since

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This week in Trumponomics: Wall Street embraces Biden

President Trump loves to brag when the stock market goes up, as if gains are a reflection of his personal awesomeness. But the market is now signaling something ominous for Trump: a surprisingly high level of comfort with Joe Biden, if he beats Trump in the 2020 presidential race.

Wall Street weathervane Goldman Sachs issued a report this week declaring that a Biden win and a Democratic sweep in November could be good for the economy, and bullish for stocks. The reasoning is straightforward. If Democrats win the White House and Senate and keep the House, the odds of a massive stimulus bill in early 2021 are considerably higher than if Republicans are able to stand in the way. A stimulus bill could be as large as the $3.4 trillion package the House passed in May, which is at least three times more spending that Republicans seem willing to accept.

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Wall Street strategy chief says the market is flashing bullish signals as more stocks start to rally


  • Miller Tabak’s chief market strategist told CNBC on Friday the stock market is signaling it has upside potential before Election Day. 
  • Matt Maley cited the outperformance of the Russell 2000 index and said small-cap stocks and chip stocks have room to grow. 
  • He’s less optimistic about the market in the long term, however. A second wave of the coronavirus and an expensive market could be bearish after the election, he said. 

Matt Maley of Miller Tabak  told CNBC on Friday that the stock market is signaling it has upside potential before Election Day.

The chief market strategist said he is watching the recent outperformance of small-cap stocks. As of Thursday, the Russell 2000 small-cap index was up almost 6% week-to-date, compared to a roughly 3% gain in the S&P 500. The broadening out of the stock market rally, which was previously dominated by mega-cap tech names, is

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Wall Street Week Ahead: U.S. earnings improvement expected, but still a weak quarter

NEW YORK (Reuters) – While good business news has been in short supply, investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been.

FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo

Analysts expect third-quarter S&P 500 earnings to have fallen 21% compared with the year-ago quarter, a big improvement from second-quarter’s 30.6% drop that was most likely the low point for earnings this year because of coronavirus-fueled lockdowns, according to IBES data from Refinitiv.

Earnings reporting will get rolling next week with results from some of the big U.S. banks, likely impacted by near record low interest rates and the pandemic-induced recession. JPMorgan & Co. JPM.N and Citigroup C.N both

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