Approaching record highs, markets seem to be banking on Democrats and Republicans coming to a deal on economic relief.
Wall Street nudged a bit higher Monday, and the Standard & Poor’s 500 teased even closer to its record high.
“It seems like a nothing day until you realize we’re sitting right on an all-time high for the S&P 500,” said Mark Hackett, chief of investment research at Nationwide. “Hence, another round of stimulus is the difference between ensuring that the economic recovery continues uninterrupted and a meaningful short-term pullback in growth,” Morgan Stanley strategist Michael Zezas wrote in a report.Investors seem willing to wait for a deal, for now. But if it gets deep into September, and Democrats and Republicans still remain far apart in their negotiations on the size of the deal, Zezas said it may be too close to the election to get one done.
But losses for financial and energy stocks helped restrain the market’s gains. These areas tend to rise and fall with expectations for the economy, and they had been showing a bit more life in recent weeks in an encouraging sign for market watchers.Smaller stocks and transportation stocks have also been making gains recently, said Nationwide’s Hackett, who called it “good news for the sustainability of the rally.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What to watch today: S&P 500 takes aim again at February's record closeU.S. stock futures are steady Monday, with the S&P 500 less than 1% away from its Feb. 19 record close.
Read more »
S&P 500 rises to start the week, but comes up just short of a record closeThe S&P 500 rose slightly on Monday as the index tried to build on last week’s gain and attempted to break its February record high. Here's how the major averages performed: - The Dow fell 85 points. - The S&P 500 rose .27%. - The Nasdaq gained 1%.
Read more »
Democrats in conservative SC now see opportunity for gainsIt&39;s been nearly 15 years since a Democrat won a statewide office and 44 years since a Democratic presidential candidate claimed the state. In the U.S. Senate race, Democrat Jaime Harrison has raised more money than GOP incumbent Lindsey Graham for two quarters in a row. A Democrat captured a longtime
Read more »
Stocks Open Higher, With S&P 500 Closing In On New Record HighStocks opened higher today with S&P 500 closing in on a new record high by skleb1234
Read more »
Stocks Open Higher, With S&P 500 Closing In On New Record HighThe market opened slightly higher to start the new week.
Read more »
Stocks drift higher, giving S&P 500 another shot at recordU.S. stocks inched higher Monday, giving the S&P 500 another shot at its record high following a historic downturn caused by the coronavirus pandemic during the spring.
Read more »