U.S. stocks wrapped a wild 2020 with a basket of records.
What’s not yet clear is whether DoorDash can keep the momentum going even if delivery demand eases in a post-pandemic world.
The Dow Jones Industrial Average traded above 30,000 points for the first time on Nov. 24 as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.
The numbers underscore how the coronavirus pandemic is worsening and threatening to drag the economy lower, at least in the near term.
Markets are banking on Tuesday's election leading to split control of Congress, which could mean low tax rates, lighter regulation on businesses and other policies that investors like remain the status quo.
Much of Wednesday's strength for Wall Street was due to big gains for technology stocks. Investors have increasingly seen these stocks as some of the safer bets in the market, able to grow their profits even in a pandemic as more of daily life shifts online.
The U.S. economy grew at a 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring.
President Donald Trump says he has instructed aides to stop negotiating on another round of COVID-19 relief until after the election.
U.S. equity futures plunged by more than 1.6%, or 500 Dow points after President Trump confirmed through a tweet that he and the first lady tested positive for coronavirus.
The financial sector was hit hard Monday following a report alleging that a number of banks have continued to profit from illicit dealings with disreputable people and criminal networks.
U.S. equity markets were sharply lower Monday as investors weighed the possibility of more coronavirus shutdowns in Europe and uncertainty surrounding the U.S. election.
“The longer the downturn lasts, the greater the potential for longer-term damage from permanent job loss and business closures,” Powell said. “Long periods of unemployment can erode workers’ skills and hurt their job prospects.”
The Dow Jones Industrial Average was down 629 points, or 2.5%, at 24,975, as of 9:48 a.m. Eastern time, and the Nasdaq composite was down 1.5%. The losses were widespread, with 98% of the stocks in the S&P 500 lower
Stocks are falling sharply on Wall Street Thursday as coronavirus cases increase again, deflating recent optimism that the economy could recover quickly as lockdowns ease.
The report gives credence to the building optimism among stock investors that the economy can recover relatively quickly from its current hole.
U.S. equity markets fought for gains Tuesday after President Trump threatened to deploy the military to quell violence and looting in cities across America after the death of a black man in police custody in Minneapolis.
ISM Manufacturing rose to 43.1 in May.
U.S. equity markets curbed the bulk of their losses Friday after President Trump announced a new wave of crackdown efforts on China, but stopped short of instituting new sanctions or upending the trade deal between the two countries.
The Dow Jones Industrial Average fell 148 points, or 0.58 percent, while the S&P 500 slipped 0.21 percent.
U.S. equity markets were mixed Wednesday as U.S. states continued with their plans to reopen America.