It was a tumultuous week for the U.S., but the stock market ripped higher as investors cheered the prospects of a split government.
 | FRI, NOV 06, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 118.69 | -0.14 | -0.11% | | INTC | 45.39 | -0.29 | -0.63% | | MSFT | 223.72 | +0.43 | +0.19% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 118.69 | -0.14 | -0.11% | | GE | 8.09 | +0.10 | +1.25% | | BAC | 24.31 | -0.30 | -1.22% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 118.69 | -0.14 | -0.11% | | AMD | 85.88 | +2.88 | +3.47% | | AAL | 11.46 | -0.14 | -1.21% | |
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It was a tumultuous week for the U.S., but the stock market ripped higher as investors cheered the prospects of a split government. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all posted their biggest weekly gains since April. The Dow rose 6.9% while the S&P 500 popped 7.3%. The Nasdaq outperformed, rising 9% over that period. It was also the best showing for the S&P 500 during an election week since 1932. Back then, the broader market index rallied more than 11% in one week.  "The market is just getting more comfortable with the outcome of a divided government, where we see a continuation of political gridlock [and] no meaningful changes on tax policy," said Dan Eye, head of asset allocation and equity research at Fort Pitt Capital Group. The latest employment data also shows the U.S. economy continues to recover from the coronavirus pandemic. On Friday, the Labor Department reported that 638,000 jobs were created in October, with the unemployment rate dropping to 6.9% from 7.9%. 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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