Stimulus hopes spark Wall Street bounce
Stocks rallied Wednesday but ended below their best levels of the day after economic stimulus negotiations between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi wrapped up without an agreement for another round of aid.
The two pledged to keep on trying.
The Dow rallied 329 points. The S&P 500 gained 27. The Nasdaq rose 82.
Wednesday marked the end of the third quarter and the biggest back-to-back quarterly gains since 2009.... even though September was the first down month on Wall Street since the March sell-off.
Hercules Investments James McDonald isn't as optimistic as some on Wall Street. He thinks the market correction that began this month still has more room to go. He's predicting another 12 to 14 percent drop.
"And so I would advise mom and pop investors here to take your profits and move to cash. This is a safest bet. Trying to buy stocks here at this point is extremely dangerous, particularly with all the risk we've talked about with COVID, with a presidential election and then the unknown. We simply don't know how we're going to get a handle on getting our economy back on track."
There were signs of economic progress, however, in Wednesday's economic data.
Private hiring managers hit the gas pedal in September. 749,000 non-government jobs were added this month, according to private payroll company ADP. Investors hope that's a sign of what's to come when the government releases the more-comprehensive monthly jobs report on Friday.
In addition, contracts for home resales surged to a record last month.
In company news: a highly-sought after stock made its debut at the New York Stock Exchange. Data analytics firm Palantir jumped 30 percent on its first trading day. The company counts the CIA and other government agencies as some of its clients.
相關影片推薦
- 1:53加拿大史上最大黃金盜竊案逮6人 加航「內鬼」偽造空運單 400公斤黃金恐已熔化售出Yahoo奇摩(國際通)7,929 次觀看・12 小時前
- 6:11強震來臨這3個縣市最危險 李鴻源曝災防都更因「票房毒藥」難行今天誰來沛108,027 次觀看・14 小時前
- 1:13柯建銘質詢一半突喊「我看不到」計時器 透露眼睛病變華視影音7,205 次觀看・15 小時前
- 1:18美馬戲團大象逃脫 穿梭車陣民眾驚呼 馬路秒變野生動物園Yahoo奇摩(國際通)21,296 次觀看・17 小時前
- 2:38巴黎奧運倒數100天 僅三分之一當地人樂見 籌備工程擾民 恐攻、環境問題更大Yahoo奇摩(國際通)3,993 次觀看・17 小時前
- 1:1126歲抗癌網紅因胃癌去世 生命最後5個月沒吃沒喝娛樂星聞55,501 次觀看・2 天前
- 2:02英國女遊台南「喝全糖珍奶」 嚇壞驚呼:天大錯誤華視影音280,799 次觀看・1 天前
- 3:18五種包餡銅板美食 醫生點名「傷腎魔王」東森新聞影音43,288 次觀看・2 天前
- 專家曝光存股名單!一檔ETF狂賺4倍進擊的荷包48,681 次觀看・1 週前
- 1:39男童"騎單車"上快車道 暖心民眾放慢車速"殿後"護送民視影音21,254 次觀看・11 小時前
熱門必看
- 3:13唐綺陽星座運勢:本週水星逆行牡羊座!上升射手注意舊情人找上門來~唐綺陽談星室57,238 次觀看・6 天前
- 9:38換乘戀愛3為何能讓大家一秒入坑? 比韓劇還扯?戀綜衝擊看點曝光Yahoo創作摩人38,253 次觀看・1 週前
- 9:57【居家清潔紀錄】花費4小時清潔廚房跟衛浴!費用、前後比對公開,結果太驚人😂原來這些都是清潔重點!★特盛吃貨艾嘉f.t.55688生活大管家特盛吃貨艾嘉15,183 次觀看・1 週前
- 1:55男生也可以飆唱紫棋的原 key!神人快拜!#好聲音推薦 #學唱歌 #歌唱教學 #翻唱 #reaction嘎老師 Miss Ga11,741 次觀看・4 天前
- 6:59簡單三步驟做出超好吃酸白菜蘿潔塔的廚房34,694 次觀看・2 天前