Wall Street Reacts To D.C With A 7% Weekly Gain

Published Friday, November 6, 2020, 8:30 p.m. EST

Despite the high-stakes of the election results, Wall Street reacted to news out of Washington by gaining 7% for the week. The Standard & Poor's 500 closed lower by a fraction today, after rack up five straight days of gains amid the swirl of political news, as economic bright spots appeared. A boom in manufacturing may be underway. At 59.3, the manufacturing purchasing manager index is strong relative to the past 30-years. In addition, a forward-looking subcomponent of the index that measures new orders hit 67.9, indicates the next few months could be extremely strong as the new orders come...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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