Did a surge in coronavirus cases and deaths in recent weeks trigger the first drop in U.S. employment in November since the onset of the pandemic last spring? Some economists think so.A few Wall Street forecasting firms such as Oxford Economics predict an outright decline in jobs, but the majority expect hiring to increase for the seventh month in a row.The November jobs report, due Friday, might...
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Continue reading >>The stock market traded on both sides of the ledger on Wednesday before closing mostly higher with Tech lagging. A weaker-than-expected jobs number caused opening weakness before strength returned. House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer indicated progress on the bipartisan coronavirus relief negotiations.The Dow traded to a late day high of 29,902 shortly after the...
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Continue reading >>The stock market rebounded on Tuesday with the gains pushing the Nasdaq to its fourth-straight record high and the S&P 500 to a new all-time peak. Renewed talks of a stimulus package and mostly positive economic news helped sentiment as lawmakers offered a new $908 billion stimulus plan.The Nasdaq tested an afternoon and lifetime high of 12,405 while finishing at 12,355 (+1.3%). Uncharted...
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