MoneyMatters Blog

The S&P 500 surged 7.2%, its biggest weekly gain since April. Democrat Biden was declared winner on Saturday, four days after the 2020 Presidential election.

The S&P 500 suffered its biggest weekly loss since March. Concerns of a contested presidential election and a return of lockdowns weighed on stocks.

Although U. S. companies topped earnings expectations, stocks broke their three-week uptrend on fading prospects of a new stimulus bill before the election.

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.