The Dow and the S&P end in positive territory for the third consecutive week. Pelosi gives the White House a 48-hour deadline to come to a consensus on a coronavirus bill. And CVS is on a hiring spree. Here's how the headlines could affect your money.
The Dow and the S&P both marked their third consecutive week of gains last week, while the tech-heavy Nasdaq saw its fourth consecutive week of gains.
At Friday's close, all three benchmarks were only about 3% shy of their record highs, making September's mass tech sell-offs almost seem like a distant memory.
If you had stock holdings exactly one year ago and stayed the course, you'd have a handsome year-over-year return of 16%.
House Speaker Nancy Pelosi has given the White House a 48-hour deadline to reconcile final details on a coronavirus stimulus bill ahead of the November 3 election, according to a tweet by her deputy chief of staff Drew Hamill on Saturday. She and Treasury Secretary Steven Mnuchin have made significant headway. Pelosi told ABC News, "I'm optimistic, because again we've been back and forth on all this."
So far, all parties back the inclusion of a second stimulus check and enhanced unemployment benefits.
Markets dipped Monday morning as traders weighed the likelihood of a bill.
Drugstore chain CVS announced Monday that it would hire 15,000 new employees to deal with the upcoming flu season and surge in Covid-19 cases. For those seeking an industry change, health care is expected to have one of the highest increases in demand for the next decade, according to the Bureau of Labor Statistics.
Video by Courtney Stith
Market changes are sometimes measured year over year (yoy or y/o/y), which may compare the same date in the previous year or the closest trading session to that date, the same quarter, or the same month.
Year-over-year changes are calculated as (Current date figure - Previous year's figure)/Previous year's figure*100 and are expressed as percentages.
Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.
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