Wall Street's Big Week Fizzles at the End

Dow falls 66 points
By Newser Editors and Wire Services
Posted Nov 6, 2020 3:06 PM CST
Wall Street's Big Week Fizzles at the End
The American Flag hangs outside the New York Stock Exchange in this file photo.   (AP Photo/Frank Franklin II)

(Newser) – Wall Street's strong week ended on a flat note Friday, per the AP. The Dow fell 66 points to 28,323, the S&P 500 dropped a single point to 3,509, and the Nasdaq inched up 4 points to 11,895. Despite the not-so-great day, optimism was still pumping through other areas of the market, and Treasury yields climbed after a report showed US employers hired more workers last month than economists expected. They're the latest swings in a wild week dominated by Tuesday's election, where the winner of the White House is still unknown.

Electoral results so far, though, have sharply cut the prospects for a "blue wave," with Republicans having a strong chance of keeping control of the Senate. The upside of gridlock for markets is that it may prevent Democrats from approving some of the measures investors feared, such as higher tax rates and tougher antitrust policies for big technology companies. Stocks around the world have surged on what analysts are calling a “Goldilocks” scenario.

(Read more stock market stories.)

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