U.S. stocks capped another wobbly day of trading with modest losses Wednesday as Wall Street waited for any signs of progress as lawmakers in Washington negotiate over how to deliver more aid for the economy. The S&P 500 slipped by 0.2 percent after shifting between small gains and losses for much of the day. The benchmark index is on track for its first weekly loss after notching gains in each of the past three weeks. Losses in industrial stocks, health care companies and elsewhere in the market outweighed solid gains by communication services stocks. “As long as the parties involved give the market a headline suggesting they’re still negotiating, there’s a kernel of optimism in the market,” said Quincy Krosby, chief market strategist at Prudential Financial.

Source: The Standard October 22, 2020 02:48 UTC