Stock Market Today: Stimulus Talks Keep Stringing Stocks Along

An effort to pass one more COVID rescue package before the U.S. elections continued to push and pull on the market Thursday.

carrot on a stick
(Image credit: Getty Images)

The market received encouraging news from the most recent unemployment-benefits figures Thursday, which showed a better-than-expected 837,000 initial claims, down from 873,000 a week prior. But "the most important immediate question for the market remains that of stimulus," BCA Research says in a recent note, and Thursday's session, much like Wednesday's, reflected that.

Stocks wobbled at the start of October as final hopes for another stimulus measure ahead of the November elections swayed in the wind. House Speaker Nancy Pelosi reportedly expressed pessimism to her Democratic team about the prospects for reaching an agreement, with the House and White House plans currently several hundreds of billions of dollars apart.

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Kyle Woodley was long FB as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.