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Stocks gather some late momentum with stimulus still up in the air

Oct. 21, 2020 3:00 PM ETXLC, SP500, COMP:IND, DJIBy: Kim Khan, SA News Editor5 Comments
  • The market is gaining some traction in late trading amid a flurry of conflicting fiscal stimulus headlines.
  • The S&P (SP500) is up 0.4%, approaching the highs hit this morning. The Nasdaq (COMP) is up 0.4% and the Dow (DJI) is up 0.1%.
  • House Speaker Nancy Pelosi says there is still a chance of a deal on a COVID-19 rescue package. GOP Senators are expressing continued discomfort with the size of deal Democrats and the White House are discussing. And money to states and local governments remains a sticking point.
  • Twitter, Facebook and Google continue to push the Communications Services (NYSEARCA:XLC) sector higher, up more than 2%.
  • Netflix remains the worst performer in the S&P, along with a host of energy names.

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