Although U. S. companies topped earnings expectations, stocks broke their three-week uptrend on fading prospects of a new stimulus bill before the election.
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The bulls and bears battled as impasse over stimulus and mixed COVID19-related news offset better-than-expected third quarter earnings.
U. S. stocks scored their biggest weekly percentage gain since July on optimism Congress will pass another stimulus package at least after the election.
Hopes of new COVID19 relief legislation helped the S&P 500 buck economic and health concerns, ending its five-week losing streak.
The S&P 500 suffered its fourth straight weekly loss as negatives on the economic, health, and political fronts weighed on stock prices.
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