The S&P 500 suffered its third straight weekly loss on worries of a sluggish economic recovery and rising tensions between the U. S. and China.
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The S&P 500 suffered its second straight weekly loss in the Labor Day-shortened trading week. Materials stocks added to their prior week’s gains.
After starting September on a strong note, valuation concerns tripped stocks and ended the S&P 500’s five-week-long winning streak.
Positive COVID19-related news and a new policy framework from the Federal Reserve pushed the S&P 500 above 3,500 for the first time.
Led by large-cap technology stocks, the S&P 500 set new records last week despite the Fed’s concerns on economic recovery and mixed economic data.
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