Lucas Jackson/Reuters
US stocks closed higher Thursday, capping a volatile trading session that saw investors weigh spiking coronavirus cases against a rollback of banking …
Lucas Jackson/Reuters
US stocks closed higher Thursday, capping a volatile trading session that saw investors weigh spiking coronavirus cases against a rollback of banking regulations.
Bank stocks led a mid-day reversal into positive territory after the Federal Deposit Insurance Corp. approved changes to the Volcker rule that will make it easier for banks to invest in funds such as venture capital.
Meanwhile, coronavirus cases have spiked in states such as Texas, Florida, Arizona, and California, threatening to slow economic-reopening efforts across the US. Global cases of COVID-19 are also on the rise.
« Whether we’re seeing a second wave or just a continuation of the first wave, the outbreak may reverse actions taken by governments to re-open their economies, hence curbing hopes of a smooth recovery, » said Hussein Sayed, the chief market strategist at FXTM.
