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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FOREX-Dollar dips as market recovers from weak U.S. jobs data

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (New throughout)

By Kate Duguid

LONDON, Sept 4 (Reuters) – As risk assets recovered on Friday afternoon, the safe-haven U.S. dollar dipped, retracing gains made on safe-haven demand following a Labor Department report that job growth slowed further in August, threatening the economy’s recovery from the COVID-19 pandemic.

Employment slowed and permanent job losses increased as programs to help businesses pay wages have lapsed or are on the verge of ending. Economists credited government largesse for the sharp rebound in economic activity after it nearly ground to a halt following the shuttering of businesses in mid-March.

The dollar index rallied to its highest in a week following the report. But those gains were erased on Friday afternoon as U.S. stock indexes recovered after earlier hitting their lowest level in a month.

The dollar index was lower on the day, last trading down

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Dollar Dips as Market Recovers From Weak U.S. Jobs Data

LONDON — As risk assets recovered on Friday afternoon, the safe-haven U.S. dollar dipped, retracing gains made on safe-haven demand following a Labor Department report that job growth slowed further in August, threatening the economy’s recovery from the COVID-19 pandemic.

Employment slowed and permanent job losses increased as programs to help businesses pay wages have lapsed or are on the verge of ending. Economists credited government largesse for the sharp rebound in economic activity after it nearly ground to a halt following the shuttering of businesses in mid-March.

The dollar index <=USD> rallied to its highest in a week following the report. But those gains were erased on Friday afternoon as U.S. stock indexes recovered after earlier hitting their lowest level in a month. [.N]

The dollar index was lower on the day, last trading down 0.10% at 92.752, though it remains 1.1% higher than the April 2018 low of

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FOREX-Dollar steadies before U.S. jobs data but sentiment weak

TipRanks

Well Fargo Says These 2 Stocks Could Rally Over 70% From Current Levels

This summer didn’t just see temperatures heat up. The S&P 500 has been on fire, with the index breaking record after record during the month of August and now sitting at 3,526.65 points.As its 2020 S&P 500 price target of 3,388 has been left in the dust, investment firm Wells Fargo is weighing in on where the market is heading. Christopher Harvey, head of equity strategy, writes in a recent note that “it does not appear the market is about to hit a wall,” noting that he doesn’t want “to leave the party too early.”“There is a growing perception that a COVID vaccine is a 1H21 event – and we need to price it in now. Fiscal/monetary accommodation is massive… Cash build-up provides additional ammo. This is why we have not pivoted defensively but are rotating

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