What Happened In the Week Ended October 23, 2020:
The S&P 500 finished the week registering a drop of 0.5%, amid a severe surge in the number of coronavirus cases. Since the start of October, the rise in cases has been steady and inexorable. Moreover, the index was weighed down by Intel and American Express who reported big misses. Stock price reactions to earnings haven’t been strong–yet both revenue and earnings have been exceeding analyst forecasts at a much better than average pace, and while forward guidance has been very positive.
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By Hubert Marleau
By Hubert Marleau