The market is currently fixated on two words: fiscal stimulus.
 | THU, OCT 08, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 114.97 | -0.11 | -0.10% | | IBM | 131.49 | +7.42 | +5.98% | | INTC | 53.37 | +0.70 | +1.33% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 6.65 | +0.34 | +5.39% | | AAL | 13.15 | +0.09 | +0.65% | | AAPL | 114.97 | -0.11 | -0.10% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAL | 13.15 | +0.09 | +0.65% | | AAPL | 114.97 | -0.11 | -0.10% | | AMD | 86.51 | -0.18 | -0.21% | |
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The market is currently fixated on two words: fiscal stimulus. The major averages rose slightly on Thursday, building on the sharp gains from the previous session, as traders weighed the prospects of additional coronavirus stimulus being pushed through before the Nov. 3 election. President Donald Trump initially boosted hope for a smaller and more concentrated deal being passed, saying the administration and Democrats were "starting to have some very productive talks." However, House Speaker Nancy Pelosi, D-Calif., dampened that enthusiasm when she told reporters Thursday there will not be a stand-alone stimulus bill for airlines without a bigger aid package. Pelosi's comments briefly knocked the Dow Jones Industrial Average lower, but the 30-stock index recovered most of its losses.  Bottom line, investors will be closely watching for any new developments on the stimulus front over the next few weeks. "We'll see if we can get something done before the election. That would be a favorable outcome," said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities. "If that starts to turn around, then we could see another blip in the market like the one we saw on Tuesday." Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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