news 1 month ago

Dow Fizzles as COVID Relief Remains in Limbo

Newser — Newser Editors

The Dow ended the week on a down note, and a familiar reason is getting the blame: uncertainty over a COVID relief package in Congress. The index fell 28 points to 28,335, while the S&P 500 gained 11 points to 3,465, and the NASDAQ rose 42 points to 11,548.

"I think everyone is in wait-and-see mode," Mike Katz of Seven Points Capital tells CNBC. "There’s a lot of back and forth on stimulus and every headline makes the market move a little bit, but there’s no follow-through because we don’t have a clear picture on that front." Negotiations were continuing, per the AP, but no breakthroughs were reported on Friday.

More From Newser

This article originally appeared on Newser: Dow Fizzles as COVID Relief Remains in Limbo