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A28 u.s. news
Diahuebs 12 November 2020

Wall Street pushes toward record highs for S&P 500, Dow

(AP) — Another rally for
the S&P 500 on Wednes- Of course, several pessimistic
day is sending it to the cases also still hang over the
edge of its record high, market. One or more could
and this time big technol- ultimately derail what’s been
ogy stocks are also rising a 9% rally for the S&P 500
on Wall Street. already in November. Chief
among them is the continu-
The benchmark index was ing climb in coronavirus
0.9% higher in afternoon counts. Medical experts warn
trading at 3,576, nearing its a difficult winter is approach-
all-time high of 3,580.94 set ing, and several European
in September. governments have already
brought back restrictions on
The Dow Jones Industrial businesses to slow the spread
Average was also flirting with of the virus there.
its own record, which was set
before the pandemic sent the In the United States, Texas
economy and markets crash- has become the first state
ing. It was up 88 points, or with more than 1 million
0.3% , at 29,508, as of 1 pm. confirmed coronavirus cases.
Eastern time, approaching Even if the strictest lockdown
its record of 29,551.42. The measures don’t return to the
Nasdaq composite, mean- United States, the worry is
while, was leading the market that scared customers will
with a gain of 1.8%. stocks gave back a bit of their All that economic activity uncertainty that weighed on stay away from businesses re-
huge gains from Monday and would come on top of the the market through the vi- gardless and undercut profits.
Enthusiasm about the econo- Tuesday. Stocks of smaller tremendous aid that the Fed- cious campaign. Even though And even though early indi-
my’s possible return to nor- companies, which tend to eral Reserve and other central President Donald Trump has cators have been encouraging
mal has vaulted stocks higher move more with expectations banks around the world are refused to concede, investors about a potential coronavirus
this week following encour- for the economy, were also pumping into the economy are ignoring his complaints vaccine, there’s no guarantee
aging, but incomplete data on lagging the market, and the through very low interest so far. They’re instead work- one will ultimately be avail-
a potential vaccine for COV- Russell 2000 index of small- rates and massive purchas- ing on the assumption that able or when.
ID-19. That pushed investors cap stocks was down 0.3%. es of bonds. Hope also re- a split Washington under
to shift dollars out of the old Some prospective new win- mains that the U.S. govern- Biden could keep tax rates Trading in the U.S. bond
winners of the stay-at-home, ners of a post-vaccine econo- ment may eventually deliver low while offering more market is closed for Veter-
virus-wracked economy and my were continuing to climb. some form of support for the steady and predictable poli- ans Day, after Treasury yields
into beaten-down stocks that economy, though its total size cies. climbed this week on hopes
have a brighter future if peo- Lyft rose 2% after its results would likely be smaller than for a healthier economy and
ple feel comfortable again go- for the latest quarter showed if Democrats had swept this Those expected results expectations that could lead
ing outside their homes. signs of a recovery in its ride- month’s elections. helped push strategists at to a pickup in inflation. The
hailing business. Revenue Goldman Sachs to raise their yield on the 10-year Treasury
Big Tech stocks had borne plunged by nearly half in forecast for the S&P 500 at is close to its highest level
the brunt of this week’s dra- the summer from a year ear- Strategists along Wall Street the end of this year to 3,700 since March.
matic reordering, but they lier, but it was nowhere near are raising their forecasts from 3,600. That would im- In European stock markets,
clawed back some of those as bad as during the spring, for stock prices on expecta- ply another 4.4% climb from France’s CAC 40 rose 0.5%,
earlier losses. Microsoft rose when lockdowns were at full tions that political control of Tuesday’s closing level. They and Germany’s DAX re-
2.8%, cutting its loss for the force. Washington will remain split expect it to rally another 16% turned 0.4%. The FTSE 100
week to 3%, for example. between the parties. Repub- through 2021. But the biggest in London gained 1.4%.
Amazon gained 2.8% to pare While several significant risks licans look set to keep the driver for that is the hope for
its weekly loss to 5.8%. remain for Wall Street broad- Senate, as long as runoff elec- a return to normal life, rather In Asia, Japan’s Nikkei 225
ly, the optimistic case that in- tions go their way in Georgia than what happens in Wash- rose 1.8%, and South Korea’s
Elsewhere in the market, vestors are embracing is that in January, while Democrats ington. Kospi strengthened by 1.3%.
some of the massive rota- one or more coronavirus vac- will hold the House of Rep- “A vaccine is a more impor- But stocks slipped in Shang-
tion that swept through early cines could help corral the vi- resentatives. tant development for the hai and Hong Kong after
this week also eased off the rus by the second half of next economy and markets than Chinese regulations focused
accelerator. The S&P 500 year, encouraging people to Democrat Joe Biden has the prospective policies of a on technology companies
was nearly evenly split be- return to life as it was before clinched enough elector- Biden presidency,” the Gold- pulled shares in big technol-
tween stocks rising and fall- the pandemic. al votes to win the White man Sachs strategists, led by ogy companies like Alibaba
ing, while energy and bank House, clearing some of the David Kostin, said in a report. and Tencent sharply lower.

Couple complain Animal Planet show cast them as pot growers

(AP) — A couple say they were field, of New Durham, who briefly pression of them by connecting told the court that ruling against
cast in a false light on an Animal appeared in a 2018 “North Woods them to the marijuana. They also al- his clients could have a chilling ef-
Planet reality television show Law” episode about an officer at- lege that neighbors and others were fect on a free press and other First
about state Fish and Game con- tempting to learn who’s responsible still able to identify them, and that Amendment protections.
servation officers, but a lawyer for growing a small marijuana patch, they didn't give permission to be
for the show's production com- New Hampshire Public Radio re- filmed. An attorney for the couple, Timothy
panies disagreed in arguments ported. Ayer, questioned whether a reality
before the New Hampshire Su- He interviews the Mansfields, who But the episode shows the Mans- television program that uses sus-
preme Court. live nearby. Their faces were pix- fields were innocent of any connec- pense and clever edits to attract an
elated. Officers later arrest a suspect. tions to the marijuana operation, audience could be viewed as a mem-
The court heard arguments Tues- In a lawsuit, the Mansfields allege said Michael Lewis, a lawyer for the ber of the media, not as an entertain-
day involving Dale and Anne Mans- that the episode created a false im- show’s production companies. He ment venture.