Wednesday Stock Market Update
The Dow Jones Industrial Average, S&P 500 posted moderate gains, but the Nasdaq Composite fell on Wednesday.
- The Dow Jones Industrial Average gained 59.87 or 0.20 percent, to close at 29,883.79.
- The S&P 500 gained 0.18 percent to close at 3,669.01.
- The Nasdaq Composite fell 0.05 percent to close at 12,349.37.
Investors are analyzing the prospect of a new stimulus package from Congress.
“I do think that we will have a deal, but the problem is the market is already anticipating it,” Bill Baruch, Blue Line Futures President, said. “Now I am bullish, and I think the path of least resistance is higher for stocks, but one thing again is, what are the markets’ expectations?”
“That $2 trillion headline that everybody had for months is dissipating, and markets are going to have to settle for a bit less. And when they do get it, is it going to be a buy the rumor, sell the news event? So those are things that are going through my mind when I’m trying to manage risk.”
On Thursday keep an eye out for:
- ISM Services PMI
- Kroger, Dollar General, and DocuSign are reporting earnings.