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Stocks extended Tuesday declines as a prospects of a stimulus package before the election dimmed even further.

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Treasury Secretary Steven Mnuchin said Wednesday afternoon that achieving a deal and advancing any measures through Congress before the November election would be “difficult.” The remarks came shortly after Pelosi and Treasury Secretary Steven Mnuchin spoke on the phone Wednesday morning to discuss further stimulus, in a conversation Pelosi’s spokesperson earlier called “productive.” The two are set to speak again Thursday.

An impasse among U.S. lawmakers in Washington has kept hopes running low that more virus relief aid will come to fruition before the November election. Senate Majority Leader Mitch McConnell said Tuesday he will have the Senate take up relief legislation after the chamber’s return on Monday, with his narrower proposal set to include funds chiefly targeted to

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Stan Choe and Alex Veiga, The Associated Press
Published 11:17 a.m. ET Oct. 13, 2020 | Updated 5:26 p.m. ET Oct. 13, 2020

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After shutting down negotiations over a new COVID-19 stimulus package, President Trump said he would pass a standalone bill for $1,200 stimulus checks.

USA TODAY

Banks and technology companies led a broad slide for stocks on Wall Street Tuesday, snapping the market’s four-day winning streak.

The S&P 500 lost 0.6%, giving back some of its gains from a day earlier. The pullback in stocks comes as many forces are pushing and pulling on markets simultaneously. Coronavirus counts are rising at a worrying degree in many countries around the world, and Johnson & Johnson said late Monday it had to temporarily pause a late-stage study of a potential COVID-19 vaccine “due to an unexplained illness in a study participant.”

Meanwhile, uncertainty about the prospects for more stimulus

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(RTTNews) – Stocks moved mostly lower during trading on Tuesday, giving back ground following the strong upward move seen over the past several sessions. The Dow and the S&P 500 remained stuck in negative territory throughout the session, while the Nasdaq spent the day bouncing back and forth across the unchanged line.

The major averages all ended the day in the red, although the tech-heavy Nasdaq edged down just 12.36 points or 0.1 percent to 11,863.90. The Dow slid 157.71 points or 0.6 percent to 28,679.81 and the S&P 500 fell 22.29 points or 0.6 percent to 3,511.93.

The pullback on Wall Street may partly have reflected profit taking after the major averages climbed to their best closing levels in over a month on Monday.

Negative sentiment was also generated in reaction to news that Johnson & Johnson has paused a late-stage trial of its Covid-19 vaccine candidate due to

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There’s no question that growth stocks are getting all the attention on Wall Street right now. But when push comes to shove, growth stocks have historically taken a back seat to dividend stocks over the long run.

Back in 2013, J.P. Morgan Asset Management released a report that compared the average annual return for stocks that initiated and grew their payout between 1972 and 2012 to the average annual return of stocks that didn’t pay dividends over this same time frame. The results showed a near-quintupling in average annual return for the dividend-paying stocks relative to stocks that paid no dividend (9.5% vs. 1.6%), and a 19-fold aggregate outperformance over four decades.

A businessperson counting a stack of one hundred dollar bills in their hands.

Image source: Getty Images.

This data really shouldn’t surprise anyone. Dividend-paying stocks are almost always profitable, time-tested businesses that have navigated a number of economic downturns. The simple fact that a company is sharing a percentage of its

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(Reuters) – Global stocks scaled five-week highs Monday on hopes that more government stimulus would come and that the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend. Investor optimism that Washington will work through talks that have repeatedly stalled to deliver another round of fiscal stimulus drove major U.S. stock indices to highs last seen in early September. Hopes that the top Wall Street banks will announce a decent set of third-quarter earnings this week that show business was not as weak as feared also helped, while excitement over an expected debut of Apple Inc’s latest iPhone on Tuesday buoyed technology stocks. Slugged by stronger investor demand for risk, the U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high. The U.S. bond market is closed on Monday

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NEW YORK (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

Shares in Apple Inc

surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon

rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a more challenging economic environment,” Felsman said.

On Wall Street, the Nasdaq Composite <.IXIC> on Monday staged its biggest one-day rally in a month, jumping 2.56%. The Dow Jones Industrial Average <.DJI> rose

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(Pexels)

2020 has been a roller coaster for short-sellers. Short selling has been among the least profitable market strategies over the past few years. Despite high valuations, a relatively poor economy, high political and social uncertainty, and numerous other potential issues, stocks seem to only go in one direction.

This is particularly true for the companies that investors expect to have the worst performance. Today, the most short-sold stocks among major companies (excluding pharma & biotech) include:

Ticker Name Short Interest Outstanding Industry
(GME) GameStop Corp. 136.04% 65.16M Retail (Technology)
(SPCE) Virgin Galactic Holdings Inc. 78.28% 195.59M Investment Holding Companies
(BBBY) Bed Bath & Beyond Inc. 61.07% 126.03M Retail (Specialty Non-Apparel)
(FIZZ) National Beverage Corp. 59.94% 46.63M Non-Alcoholic Beverages
(GOGO) Gogo Inc. 53.22% 83.77M Communications Services
(SKT) Tanger Factory Outlet Centers 52.95% 93.47M Real Estate Operations
(DDS) Dillard’s, Inc. 47.49% 18.37M Retail (Department & Discount)

(SRG)

Seritage Growth Properties 46.47%
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  • Global stocks rose on Monday as investors held onto hopes for a prompt deal on a new round of US fiscal stimulus, boosted by the White House’s change in position over the weekend.
  • US stock futures rose as much as 1%, even after House Speaker Nancy Pelosi rejected the Trump administration’s latest proposal on Sunday.
  • In Asia, China stocks rose to a two-year peak, driven by a new central bank policy that makes it easier to sell the yuan.
  • The FTSE 100 edged slightly lower ahead of Prime Minister Boris Johnson’s expected announcements on stricter COVID-19 restrictions across the country.
  • Visit Business Insider’s homepage for more stories.

Global stocks rose on Monday as investors largely pinned hopes on a new US fiscal stimulus deal to get across the line. 

US stock futures rose as much as 1% even after House Speaker Nancy Pelosi rejected the Trump administration’s

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Walmsley now rates Twitter at Buy.


Alastair Pike / AFP via Getty Images

Social-media stocks are getting a boost from Deutsche Bank analyst Lloyd Walmsley, who raised his rating on

Twitter

and lifted his price targets on

Facebook,

Alphabet,

Snap,

and

Pinterest.

For Twitter (ticker: TWTR), he went to Buy from Hold, with a price target of $56, up from $36. The call is part of a broader bullish report on the social-media stocks, which he thinks are positioned to benefit from a coming rebound in online advertising demand.

The analyst lifted his price targets on Facebook (FB), to $325 from $305;

Alphabet,

Google’s parent (GOOGL), to $2,020 from $1,975; Pinterest (PINS), to $55 from $43; and Snap (SNAP), to $32 from $28. He repeated Buy ratings on all of them.

“We are bullish on the ad names into Q3 results given a continued

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Joe Biden wearing a suit and tie: Mark Makela/Getty Images


© Mark Makela/Getty Images
Mark Makela/Getty Images

  • A Democratic sweep in November would place stocks on a rollercoaster ride through the end of the year, Morgan Stanley strategists said Friday.
  • US equities are among the few assets poised for a “detour” should a so-called blue wave take place. The market’s steady climb would reverse temporarily before correcting in 2021, the analysts said.
  • Stocks would initially dip on fears of higher corporate taxes and uncertainty around future stimulus, according to the bank.
  • Once the party can clarify its fiscal relief plans, a follow-up to March’s CARES Act and continued economic recovery can place stocks back on their upward path, the strategists added. 
  • Visit the Business Insider homepage for more stories.

A “Blue Wave” come Election Day can boost stocks, but only after bouts of strong volatility and a knee-jerk decline, Morgan Stanley strategists said Friday.

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Current polls suggest Democratic

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