Stocks get a boost
by Kyle Ziemnick
Posted 8/05/20, 04:48 pm
The S&P 500 climbed to within 2 percent of its record high on Wednesday, giving Wall Street its fourth straight day in positive territory. Walt Disney Co. stocks spiked by more than 8 percent after the company announced expectation-beating profits and huge gains in its video-streaming service, Disney+. Experts suggest the growth could come from the perception that the coronavirus pandemic has had a less severe effect on corporations than expected.
What’s the outlook for the future? Markets could suffer if Congress does not soon extend more COVID-19 relief to Americans. Congressional leaders and members of President Donald Trump’s administration have battled for more than a week over the new stimulus bill. Among other disagreements, Democrats insist on more aid to state and local governments, while Republicans demand lawsuit shields for businesses that remain open.
Dig deeper: Read Steve West’s report in Liberties on the conflict of individual freedom and public good during the pandemic.
Read more from The Sift Sign up for The Sift email
Kyle is a graduate of the World Journalism Institute.