Stocks Close Higher Amid Plan to Resume Stimulus Talks, Weak Jobs Data

Stocks ended modestly higher in choppy trading Thursday amid disappointing jobless numbers and word from Treasury Secretary Steven Mnuchin that he planned to resume fiscal-stimulus talks with House Speaker Nancy Pelosi.



a person standing in front of a building: Stocks Close Higher Amid Plan to Resume Stimulus Talks, Weak Jobs Data


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Stocks Close Higher Amid Plan to Resume Stimulus Talks, Weak Jobs Data

The Dow Jones Industrial Average finished up 52 points, or 0.2%, to 26,815, the S&P 500 was up 0.3% and the tech-heavy Nasdaq rose 0.37%.

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The Dow was up as much as 1.2% and down as much as 0.8% on Thursday.

Goldman Sachs led the DJIA higher, closing up 4.8% at $195.11. UBS analyst Brennan Hawken upgraded the investment bank to buy from neutral and raised his share-price target to $245 from $220.

Apple finished up 1% and Tesla tacked on almost 2%.

Mnuchin told a Senate Banking Committee hearing Thursday that a targeted pandemic relief package was “still needed,” Bloomberg reported.

Equities

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Stocks Whipsaw as Traders Weigh Odds of Stimulus: Markets Wrap

(Bloomberg) — Stocks whipsawed as investors weighed the chances of a compromise on a new stimulus package amid concern over an uptick in global coronavirus cases. The dollar fell.

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The S&P 500 pared most of its earlier rally after optimism faded that Congress would reach a spending deal with the White House. Stocks surged midday on news that Treasury Secretary Steven Mnuchin and the Democratic House leader were open to fresh talks. But a report that Speaker Nancy Pelosi’s fresh overture deviated only slightly from previous offers sparked concern that the two sides would remain far apart. The stock gauge still closed above a key support level: Its average price of the past 100 days.

House Democrats have started drafting a stimulus proposal of roughly $2.4 trillion, according to multiple officials. While smaller than the $3.4 trillion package the House passed in May, the new proposal remains much

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Gold gains as stocks retreat; U.S. jobs data in focus

(Reuters) – Gold prices rose on Friday, as U.S. Treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of U.S. non-farm payrolls data, but a strong dollar put bullion on track for a weekly decline.

FILE PHOTO: Gold bars at the Austrian Gold and Silver Separating Plant ‘Oegussa’ in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo

Spot gold was up 0.2% at $1,935.10 per ounce by 0651 GMT, off a near one-week low hit on Thursday. Bullion prices have declined 1.5% so far this week.

U.S. gold futures rose 0.2% to $1,941.

“It’s a bit of a flight to safety right now that we are seeing in gold, because the stock markets are lower,” said Edward Meir, an analyst at ED&F Man Capital Markets.

“What also could be helping gold is the sharp slide we are seeing in U.S. yields.”

Asia’s stock

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4 Education Stocks to Gain on Growing Demand for Online Classes

Schools have finally started reopening in the United States. Although most Americans expect all schools to reopen in the fall, there are chances that teachers and students may not be there, as many schools districts that have opened are also reporting a rise in spread of the virus.

The U.S. education system has been one of the biggest casualties of the pandemic and online education has been the only way to complete the semester this year.

Students, Parents, Prefer Remote Learning

Although both parents and students believe that public education is among Americans’ top priorities, most students feel they should continue their education through some form of distance learning, according o a poll conducted by Morning Consult, a private company that does national political polling.

Around 52% of the adults polled opposed reopening of K-12 schools for in-person instruction in fall 2020 amid the pandemic, and close to 80% said

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Heathrow CEO warns of jobs ‘cliff edge’, UK GDP rebounds, and stocks cautious



a man and a woman holding a sign: Passengers Charlotte and Frank, arrive at Heathrow Airport as they return from Mykonos in Greece, after the British Government added the island to the coronavirus quarantine list, at Heathrow, London, Tuesday Sept. 8, 2020. From early Wednesday, people arriving from several Greek islands will need to self-isolate for 14-days, but mainland Greece will maintain its quarantine-exemption, according to Britain's Transport Secretary Grant Shapps, who said that England is to start applying a regional approach to its coronavirus quarantine policy. (Yui Mok/PA via AP)


Passengers Charlotte and Frank, arrive at Heathrow Airport as they return from Mykonos in Greece, after the British Government added the island to the coronavirus quarantine list, at Heathrow, London, Tuesday Sept. 8, 2020. From early Wednesday, people arriving from several Greek islands will need to self-isolate for 14-days, but mainland Greece will maintain its quarantine-exemption, according to Britain’s Transport Secretary Grant Shapps, who said that England is to start applying a regional approach to its coronavirus quarantine policy. (Yui Mok/PA via AP)

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

Heathrow CEO warns of jobs ‘cliff edge’

The chief executive of Heathrow has warned that thousands of jobs could be lost when the government’s furlough scheme comes to an end next month.

“Furlough is going to be a cliff edge when that comes to an end at

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GLOBAL MARKETS-Asian stocks follow Wall Street lower, nervous wait for U.S. jobs data

* Tech leads modest losses across Asia

* MSCI AxJ down 1.5%, shallower than 5% Nasdaq plunge

* Limited spillover into currency and bond markets; payrolls eyed

* Asian stock markets: https://tmsnrt.rs/2zpUAr4

By Tom Westbrook

SINGAPORE, Sept 4 (Reuters) – Asia’s stock markets had their worst session in two weeks on Friday following a tech-led plunge on Wall Street, though gains in safer assets like bonds and dollars were muted as investors awaited U.S. job data to see if it triggers a bigger selloff.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5% and looked set to snap a six-week winning streak with a 2.3% weekly loss, its biggest since April.

The Nikkei declined 1%. Australia’s ASX 200 led losses with a 3% fall as global investors sold growth-exposed miners like BHP and traders trimmed positions ahead of the weekend in case Wall Street takes another dive.

Elsewhere drops

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After Thursday Selloff And In-Line Jobs Report, Eyes On Tech Sector, “Reopening” Stocks

Right on the money.

That’s how you can sum up today’s payrolls report from the Department of Labor, which showed job growth of 1.4 million in August.  While down from around 1.7 million in July, the headline figure was exactly in line with Wall Street’s estimates. 

The data appeared to provide some early support to the major indices. Maybe some of yesterday’s heavy selling reflected people worrying about a possible bad number. Growth of 1.4 million is strong by historic standards and suggests the economy continues to recover from the crisis, but there’s definitely been a slide over the last few months. Growth was more than 4 million in June. 

What’s really surprising is the unemployment rate falling from double digits all the way down to 8.4%, something few if anyone had expected. An increase in government hiring for census workers might have played into that. Also, the number of

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Big-Tech Slump Drags U.S. Stocks to Two-Week Low: Markets Wrap

(Bloomberg) — U.S. stocks bounced back from a sharp selloff but still closed at a two-week low as megacap tech shares sold off.

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Losses for Amazon.com, Microsoft Corp. and Facebook Inc. pushed the tech-heavy Nasdaq 100 down more than 5% at one point, though it pared those declines to just over 1% as the day wore on and investors spotted bargains. Gains in financial shares limited losses in the S&P 500 Index, which ended the week down 2.3% at the lowest level since Aug. 21.

Treasury yields jumped while the dollar slipped. Oil fell below $40 a barrel to reach the lowest since late June.

The worst of Friday’s stock selloff appeared to stem from concern that the recent run-up in tech shares wasn’t tied to broad investor sentiment, but instead was driven by outsize options trades from one firm. The Financial Times reported that SoftBank bought billions

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Stocks fall but end off session lows as investors continue to rotate out of tech and momentum sectors

MARKET SNAPSHOT



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Stocks finished with losses but off session lows in choppy trade on Wall Street on Friday, with some previously unloved sectors finding support as technology and other highflying segments felt the pressure of continued profit-taking.

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U.S. markets on Monday will be closed in observance of Labor Day, a factor that might have added to market volatility by sapping volume in the run-up to the long holiday weekend.

How did stock-market benchmarks perform?

The Dow Jones Industrial Average (DJIA) closed 159.42 points lower, down 0.6%, at 28133.31, after falling 628 points at its session low. The blue-chip gauge bounced in the final hour of trading, briefly pushing back into positive territory before falling back. The S&P 500 index (SPX) dropped 28.10 points, or 0.8%, to finish at 3,426.96, while the Nasdaq Composite Index (COMP) declined 144.97 points, or 1.3%, to end at 11,313.13. The

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US stocks stage huge comeback, still close lower in volatile post-jobs-report session



a man wearing a suit and tie talking on a cell phone: Spencer Platt/Getty Images


© Spencer Platt/Getty Images
Spencer Platt/Getty Images

  • US stocks ended Friday lower, even after the August jobs report showed strong job additions and a better-than-expected unemployment rate.
  • Major indexes were dragged lower by their most heavily weighted tech stocks for a second straight day.
  • Megacap tech names like Amazon, Microsoft, and Alphabet led declines.
  • Visit Business Insider’s homepage for more stories.

US stocks closed lower to cap off a volatile session. Major indexes dove shortly after the market open, only to stage a sharp recovery in the afternoon before drifting lower once to end the day.

The losses came amid reports that the Japanese conglomerate SoftBank was responsible for buying market-moving chunks of megacap tech stocks over the past several months. Names like Amazon, Microsoft, and Google were among the biggest drags on major indexes Friday.

Traders also weighed the August jobs report. The US added 1.37 million jobs in

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