The S&P 500 ended lower Friday after a choppy session as investors weighed spiking cases of COVID-19 and Apple's announcement of fresh store closures against anticipated stimulus and continued economic recovery. Fred Katayama reports.
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession was over or drawing to an end. Fred Katayama reports.
The S&P 500 and Nasdaq closed higher Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely. Fred Katayama reports.
Economist Max Wolff of Multivariate thinks the S&P 500 should be trading at 2300 instead of 3150. He tells Reuters' Fred Katayama that investors are ignoring negative news about the rising coronavirus cases and the renewed trade tensions with China.
U.S stocks rose Wednesday and the Nasdaq hit a record closing high, supported by tech shares as early signs of an economic rebound offset concern about rising coronavirus cases across the country. Fred Katayama reports.