Highest Close in a Month

Stocks opened higher today and gained throughout the day. The S&P 500 closed at its highest level in a month.

Energy and Tech led the way while Staples and REITS were up the least. In the last eight sessions, the S&P 500 has gained 5.3%.

The media is ascribing today’s rally to good news on the president’s health and optimism for a stimulus package.

White House Chief of Staff Mark Meadows said on Monday there was still potential to reach an agreement with U.S. lawmakers on more coronavirus relief and that Trump was committed to getting the deal done.

“The stimulus deal is still sitting there, and there’s still communication going on … It looks increasingly like something’s going to get done,” said Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis.

Posted by on October 5th, 2020 at 4:41 pm


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