market wrap 09.25.20

The Dow closed at 27,173.96 – up 358.52

The S&P 500 closed at 3,298.46 – up 51.87

The Nasdaq closed at 10,913.56 – up241.29

The Russell 2000 closed at 1,474.91 – up 23.09

The Federal Funds rate has dropped to 0.1%, while 10-year Treasuries have seen their yield drop by half year-to-date, to just 0.7%. Investors have been worrying about the profitability of banks quite a lot, which explains some of the discrepancies between the returns of bank stocks and overall equity markets. Read the story on SeekingAlpha.

The U.S. economy the first six months of the coronavirus pandemic in far better shape than many observers feared last spring. Hopes for a major new aid package before the Nov. 3 election are all but dead.

Published by mikebertelsen

Global market, trade, and financial news. I keep up to date with what I assess is important.

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