⁍ All three major U.S. stock indexes are on course for their fourth straight week of declines.


⁍ Investors are looking for clarity on more Congressional stimulus ahead of the Nov. 3 presidential election.


– The S&P 500 and Nasdaq were on course for their longest weekly losing streak in a year Friday as worries about the economy weighed on investor sentiment, Reuters reports. The information technology index rose another 1.2% after outperforming for most of the week as investors ditched value-linked stocks. “We’ve been down for a number of days and the market is such that it’s looking for opportunities to buy,” said Barry James, portfolio manager at James Investment Research in Ohio. All three major US stock indexes are on course for their fourth straight week of declines—their longest weekly losing streak since August 2019. Volatility has also shot up as investors look for clarity on more Congressional stimulus ahead of the Nov. 3 presidential election. At 11:40am ET, the Dow was up 97.00 points, or 0.36%, at 26,912, the S&P 500 was up 19.02 points, or 0.59%, at 3,265, and the Nasdaq Composite was up 116.18 points, or 1.09%, at 10,788.44. The S&P industrials sector added 0.8% as data showed new orders for key US-made capital goods jumped in August, while a 0.7% slide in energy stocks put them on course for one of their worst weeks since the coronavirus-driven crash in March.



Source: https://www.reuters.com/article/usa-stocks/us-stocks-tech-leads-wall-st-higher-as-virus-fears-grow-idUSL3N2GM313