A Winning Streak on Wall Street Survives

S&P squeaks out a gain for the 6th straight day
By Newser Editors,  Newser Staff
Posted Aug 7, 2020 3:10 PM CDT
A Winning Streak on Wall Street Survives
Signs for Wall Street are shown in New York.   (AP Photo/Mark Lennihan)

The S&P 500 now has a six-day winning streak going, barely. The benchmark index rose all of 2 points Friday to 3,351, while the Dow gained 47 points to 27,433, and the Nasdaq fell 97 points to 11,010. The mixed day came after the July jobs report showed that the labor recovery was cooling down a bit amid a rise in coronavirus cases. “Yes, future employment data will likely slow due to more COVID-19 restrictions, but for now you have to be quite impressed with how far we’ve come the last few months,” says Ryan Detrick of LPL Financial. The next worry for investors is Congress' struggle to pass another COVID stimulus package, reports the Wall Street Journal. The S&P is now only about 1% off its record high, notes the AP. (More stock market stories.)

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