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  • a volatile trading session Thursday as economic stimulus talks continued to grind on.

  • There was optimism on the side of the Democrats by way of House Speaker Nancy Pelosi.

  • So I'm pleased that we have reached a point where we at least or still haven't they still haven't completely signed off on it, but I think we're just about there.

  • But Senate Republicans remained skeptical of a possible deal costing trillions of dollars.

  • Stocks gyrated with all the back and forth.

  • But hope prevailed in the end, with Wall Street scoring gains across the board.

  • And there were more mixed signals from the economy.

  • New claims for unemployment benefits improved last week, coming in below 800,000, though that is still stuck at historically high levels.

  • Peter Cardillo is chief market strategist at Spartan Capital Securities.

  • Today's number obviously points in the right direction and we're seeing some movement, but we still have a long way to go.

  • You know, you still have high levels of unemployed and if we don't get a stimulus package soon, ah, lot of the unemployment gonna are gonna be losing their benefits.

  • A staggering 23.2 million Americans were on unemployment benefits at the beginning of October.

  • On the other hand, the housing market continues to boom.

  • Home re sales surged to a 14 year high in September.

  • Sales are largely being driven by record low mortgage rates and a rush away from crowded cities one part of the economy desperately hoping for another round of stimulus.

  • The airlines where the global health crisis has led to a precipitous plunge in air travel.

  • Southwest Airlines posted its biggest ever quarterly lost, the domestic air carrier lost more than $1 billion over the last three months and American Airlines posted a 2.5 billion.

  • Dollar Quarterly lost its third straight money losing quarter in a row.

  • But both companies are burning through less cash for a day, sending their stocks higher.

a volatile trading session Thursday as economic stimulus talks continued to grind on.

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B1 stimulus unemployment quarterly posted economy losing

U.S. stocks rally with eyes on stimulus talks

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    林宜悉 posted on 2020/10/24
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