Stocks were mixed on Friday. The Dow (INDU) was flat after paring some of its initial losses around mid-morning, and the S&P 500 (SPX) was up 0.1%. Still, the S&P -- the broadest measure of the US stock market -- is teetering on the brink of correction territory, defined as a 10% drop from the peak.
The Nasdaq Composite (COMP), the only index that had opened higher, was up 0.6% mid-morning.
Nevertheless, all three indexes are on track for their fourth down-week in a row, the worst such losing streak since August last year, when trade tariffs and retaliations dominated the market.
Market dynamics are all over the place these days. The presidential election is less than six weeks away and uncertainty about the outcome — and when the outcome will be known — is increasingly weighing on stocks.
On top of that, the economic recovery is showing signs of slowing. In the latest example, Friday the Census Bureau reported that orders for durable goods, such as cars, slowed more than expected in August. They rose 0.4% compared with a 11.7% jump in July.
Meanwhile, Washington has so far been unable to agree another stimulus package, as finding a new supreme court judge after the death of Justice Ruth Bader Ginsburg has taken over the capital.
US-China tensions, which have overshadowed the market regularly for years now, are also on the rise again.
In the weeks to come, earnings season for the third quarter of the year will also get under way, so there's plenty to keep investors busy.
The message is clear: volatility isn't going away any time soon.
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September 25, 2020 at 09:37PM
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Stocks are headed for their fourth week of losses - CNN
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