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  • stocks on Wall Street rebounded in a choppy session Monday after suffering their steepest weekly loss since March.

  • The bounce back came on the eve of the presidential election.

  • Tech stocks took a back seat as energy materials and industrials led the rally.

  • The Dow tacked on 1.6%.

  • The S and P 500 which ended Friday near six week lows, shot up 1.2% and the NASDAQ rose less than half a percent.

  • First Franklin Financial Services chief market strategist Brett Ewing sees the S and P rising another 10% by year end, regardless of who wins the election or which party rules the Senate.

  • We really have unlimited support coming out with Fed and throughout the credit markets.

  • If there is any little fire starting, they're gonna put it out real quick, okay?

  • And the second thing is on the fiscal stimulus.

  • No matter who wins the election, I do believe we're gonna have some fiscal stimulus talks and something really implemented here in the next few months.

  • Among the quarter of S and P 500 companies reporting earnings this week, Clorox shares of the maker of Clorox bleach glad plastic bags and Kingsford charcoal jumped after the company recorded its strongest quarterly sales growth in more than two decades and raised its full year revenue forecast.

  • Hygiene obsessed consumers Air snapping up everything from its disinfectants toe water filters.

  • But fears over more trouble ahead from the health crisis, drove down shares of airlines like Southwest and Delta and cruise operators Carnival and Norwegian Cruise Line shares of Duncan Brands SWORD Arby's owner, Inspire Brands, is buying the donut and ice cream chain operator for $8.8 billion in cash.

stocks on Wall Street rebounded in a choppy session Monday after suffering their steepest weekly loss since March.

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Wall Street rises in choppy session

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    林宜悉 posted on 2020/11/03
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