Stock Market Today: Stimulus Stalemate Stalls Stocks
Gridlock in D.C. and underwhelming earnings reports from a couple of Dow stocks split the major indexes.
The market was mixed Friday as investors weighed the stalemate over stimulus and some disappointing quarterly reports from major blue chips. Lawmakers' back-and-forth over a deal to pump trillions more into the economy to soften the blow of the pandemic has been a running theme for stocks.
On a more granular level, Intel (INTC) fell 11% after posting earnings late Thursday that revealed a surprise drop in revenue in its critical server business. Meanwhile, American Express (AXP) shed 3.7% after missing analysts' average earnings estimate. Both stocks are members of the Dow Jones Industrial Average, which closed down 0.1% to 28,335.
"Stocks finished slightly lower, on average, following a string of choppy sessions, with several sudden intraday shifts making traders dizzy on Wall Street," said Gorilla Trades strategist Ken Berman.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"The pressure of the looming elections, the stimulus saga continued throughout the week, the second European COVID wave got even worse, while the number of cases crept higher in the U.S. as well," added Berman. "But the pressure on the domestic healthcare system remains manageable and the economic recovery seems to be on track."
Other action in the stock market today:
- The S&P 500 rose 0.3% to 3,465.
- The Nasdaq Composite added 0.4% to finish at 11,548.
- The small-cap Russell 2000 inched up 0.6% to 1,640.
Have Your Cake and Eat It Too with Mid-Cap Stocks
As we await outcomes to the stimulus negotiations and the elections, tactical investors can be forgiven for not knowing whether to play offense or defense.
Cheap, diversified bets using exchange-traded funds (ETFs) can help you bracket both sides of any market trend. Or consider a hand-picked selection of sector ETFs, which can be used to overweight growth or stability without overdoing it. As for stockpickers, low-volatility stocks might let you sleep better at night, but they also tend to lag behind a rising market.
Is there an opportunity to have your cake and eat it, too? Look to the market's best mid-cap stocks – companies between roughly $2 billion and $10 billion in market value – for both growth potential and financial stability.
-
Retirees in These 7 States Could Pay Less Property Taxes Next YearState Taxes Retirement property tax bills could be up to 65% cheaper for some older adults in 2026. Do you qualify?
-
Estate Tax Quiz: Can You Pass the Test on the 40% Federal Rate?Quiz How well do you know the new 2026 IRS rules for wealth transfer and the specific tax brackets that affect your heirs? Let's find out!
-
'The 'Mamdani Effect' in New York: Can the City Afford a Millionaire Tax?State Tax Will higher income taxes drive the wealthy to flee New York in 2026?
-
If You'd Put $1,000 Into Coca-Cola Stock 20 Years Ago, Here's What You'd Have TodayEven with its reliable dividend growth and generous stock buybacks, Coca-Cola has underperformed the broad market in the long term.
-
If You Put $1,000 into Qualcomm Stock 20 Years Ago, Here's What You Would Have TodayQualcomm stock has been a big disappointment for truly long-term investors.
-
If You'd Put $1,000 Into Home Depot Stock 20 Years Ago, Here's What You'd Have TodayHome Depot stock has been a buy-and-hold banger for truly long-term investors.
-
What the Rich Know About Investing That You Don'tPeople like Warren Buffett become people like Warren Buffett by following basic rules and being disciplined. Here's how to accumulate real wealth.
-
If You'd Put $1,000 Into Bank of America Stock 20 Years Ago, Here's What You'd Have TodayBank of America stock has been a massive buy-and-hold bust.
-
If You'd Put $1,000 Into Oracle Stock 20 Years Ago, Here's What You'd Have TodayORCL Oracle stock has been an outstanding buy-and-hold bet for decades.
-
How to Invest for Rising Data Integrity RiskAmid a broad assault on venerable institutions, President Trump has targeted agencies responsible for data critical to markets. How should investors respond?
-
If You'd Put $1,000 Into Sherwin-Williams Stock 20 Years Ago, Here's What You'd Have TodaySherwin-Williams stock has clobbered the broader market by a wide margin for a long time.
