AllMarket Update
logoArgusOctober 15, 2020

Market Update: MS, MYL, SWK, USB

Sector(s)
Financial Services, Healthcare, Industrials
Summary

Stocks fell on Thursday morning on diminishing hopes for a fiscal stimulus deal before the election and an unexpected increase in weekly unemployment claims. The Labor Department said that initial claims for state unemployment benefits rose to 898,000 for the week ended October 10, up from 845,000 a week earlier and above the Bloomberg consensus forecast of 825,000. The Dow fell 0.4%, the S&P 0.6%, and the Nasdaq 0.9%. Crude oil traded near $40 per barrel, while gold fell $9 to $1891 per ounce.

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