Stocks and Markets

The S&P 500 declined last week as investors weighed rising COVID-19 infections and shutdowns against encouraging vaccine developments.

Although hopes of a COVID-19 vaccine and despair from rising COVID-19 cases swayed stocks, the S&P 500 closed the week at a record high.

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.

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.

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.