Wall Street Reverses Early Losses

Dow, S&P, and Nasdaq all rise
By Newser Editors,  Newser Staff
Posted Nov 19, 2020 3:04 PM CST
This Time, Tech Stocks Lead Wall Street to Gains
Specialist Dilip Patel, left, works with a trader on the floor of the NYSE Thursday, Nov. 19, 2020.   (Courtney Crow/New York Stock Exchange via AP)

Wall Street shrugged off early losses and finished Thursday in positive territory. The Dow rose 44 points to 29,483, the S&P 500 rose 14 points to 3,581, and the Nasdaq rose 103 points to 11,904. One thing that helped: Democratic Minority Leader Sen. Chuck Schumer said his GOP counterpart, Mitch McConnell, has agreed to resume talks on a new stimulus bill, reports the Wall Street Journal. Beyond that, investors continued to balance hopeful news about vaccines with gloomy headlines about rising COVID cases.

“The market is grappling with the push and pull of the progress with the vaccine track, which allows a window to when our economy can reopen, with the current reality of rising cases,” Bill Northey of US Bank Wealth Management tells the AP. Tech stocks, which had been suffering of late amid the good news on vaccines, led Thursday's rally. (More stock market stories.)

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