Wall Street’s huge November rally has slowed this week as fears about the economy buckling in the near term collide with hopes that stronger growth will arrive next year once effective coronavirus vaccines become available. A discouraging report on Thursday underscored the fears, showing that more U.S. workers filed for unemployment benefits last week than the week before. “Good vaccine news is battling worsening coronavirus trends,” said Ross Mayfield, investment strategist at Baird. New York City’s announcement that it’s halting in-person learning at public schools helped send stocks on their late-day slide Wednesday. Counterbalancing all those fears is hope that coming vaccines can control the pandemic and get the global economy back toward normal next year.

Source: The Standard November 19, 2020 20:26 UTC