Dow Fizzles as COVID Relief Remains in Limbo

Index falls 28 points
By Newser Editors,  Newser Staff
Posted Oct 23, 2020 3:05 PM CDT
Dow Fizzles as COVID Relief Remains in Limbo
Pedestrians pass the New York Stock Exchange.   (AP Photo/Frank Franklin II)

The Dow ended the week on a down note, and a familiar reason is getting the blame: uncertainty over a COVID relief package in Congress. The index fell 28 points to 28,335, while the S&P 500 gained 11 points to 3,465, and the NASDAQ rose 42 points to 11,548. "I think everyone is in wait-and-see mode," Mike Katz of Seven Points Capital tells CNBC. "There’s a lot of back and forth on stimulus and every headline makes the market move a little bit, but there’s no follow-through because we don’t have a clear picture on that front." Negotiations were continuing, per the AP, but no breakthroughs were reported on Friday. (More stock market stories.)

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