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Friday, October 30, 2020
Business US stocks drift between gains and losses in early trading

US stocks drift between gains and losses in early trading

Other News

Dow sinks 943 points as surging virus plagues Wall Street

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers The Dow Jones Industrial Average sank 943...

Stocks have their worst day in a month as virus cases surge

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers U.S. stocks fell sharply Monday, deepening last...

Stocks close higher as companies report solid earnings

By ALEX VEIGA and DAMIAN J. TROISE AP Business Writers Stocks closed broadly higher Tuesday as Wall Street welcomed...

Stocks fall on Wall Street as hopes fade for stimulus deal

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers Stocks gave up early gains and closed...

By KEN SWEET AP Business Writer

Stocks were off to a mixed start Tuesday, as the market cooled off from the rally the day before and as investors waited for the debate between President Donald Trump and Democratic challenger Joe Biden.

The S&P 500 was up 0.1% after drifting between small gains and losses in the early going.

The Dow Jones Industrial Average was little changed as of 10 a.m. Eastern. The technology-heavy Nasdaq composite was up 0.2%.

Banks and industrial companies had some of the biggest losses shortly after the opening bell Tuesday, while several big technology and communications companies were higher.

Technology stocks, long been the driver of this year’s stock market moves, were mostly higher in early trading. Advanced Micro Devices rose 2.5%, Twitter was up 2.8% and Facebook was up 1.5%.

Investors are waiting for Tuesday’s 90-minute televised Trump-Biden debate. The debate comes as coronavirus deaths worldwide crossed 1 million. Cases in the U.S. are on the rise again as states attempt to reopen schools and factories. Tens of millions of Americans remain out of work.

Markets are watching the November election’s impact on tax policy and how long it might take to determine the winner.

“With a reasonable polling lead, one could argue that Joe Biden has more to lose here than President Trump,” said Robert Carnell of ING in a report. He noted that with some potential for gaffes or other colorful moments, the debate might be “cringe-worthy but unlikely to deliver an electoral car-crash for either side.”

Investors’ confidence has been supported by infusions of central bank support into struggling economies and hopes for development of a coronavirus vaccine.

Congress still is arguing over the size of a new support package after additional unemployment benefits expired.

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