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  • Wall Street regained its footing one day after it took the worst beating in four months.

  • The Dow gained 139 points.

  • The S and P 500 rose 39 points.

  • The NASDAQ rallied 180 points.

  • Better than expected economic data offset worries over the resurgent health crisis.

  • The U.

  • S economy staged a record rebounding economic activity during the third quarter after a record nosedive the quarter before.

  • Consumer spending, largely boosted by now expired economic stimulus out of Washington, helped drive the rebound.

  • The economy, however, is still weaker than it waas at the end of last year.

  • And with no new stimulus insight, there are concerns about what's next for the economic outlook to that point.

  • Jobless claims remain historically high.

  • 751,000 Americans lined up for first time unemployment benefits last week.

  • Nearly 23 million Americans received government jobless assistance as of early October.

  • Hugh Johnson of Hugh Johnson Advisors says the market wants another stimulus package Then.

  • Believe me, uh, it's very hard for investors because one day we here and it looks as though we won't get enough stimulus the next day we will get enough stimulus.

  • We're looking at a very volatile market.

  • Until we get into the post election and we start toe zero in on the level of stimulus that we're going to get, we won't be able to answer that question.

  • Is this level of stimulus enough to avert the so called double dip second leg down in the economy after the close, it was an earnings.

  • Tech Appaloosa, Amazon, Facebook and Google Parent Alphabet blew past earnings estimates as these marquee tech companies continue to benefit from work and school from home, a boost in online ad spending and the increase in online shopping.

  • While Apple exceeded profit estimates as well, iPhone sales were even weaker than the lackluster numbers expected by analysts.

  • But the bigness of the tech group Twitter subscriber numbers came in below forecast.

Wall Street regained its footing one day after it took the worst beating in four months.

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B2 stimulus tech economic jobless earnings weaker

U.S. stocks rebound with tech in the lead

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    林宜悉 posted on 2020/10/30
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