President Trump argues the U.S. will have a great economic recovery next year unless Joe Biden is elected and raises taxes.
U.S. stocks ended the session mixed on Friday but still managed to post a third straight week of gains. A strong retail sales report combined with hopeful news on a COVID-19 vaccine helped outweigh stimulus concerns.
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The Dow Jones Industrial Average rose 112 points or 0.4%, while the S&P 500 was little changed up 0.2%, both rising for the third straight week. The Nasdaq dipped by 0.3% but clocked its fourth straight weekly gain.
Pfizer Inc. said it could apply for emergency use of its experimental COVID-19 vaccine being co-developed with BioNTech SA as soon as the third week of November – once it has received at least two months of safety data as required by the Food and Drug Administration. The company had previously said the data might be ready even sooner — in October. In other vaccine news, Gilead Sciences Inc. is disputing a World Health Organization study that found its antiviral drug remdesivir had “little or no effect on mortality” of hospitalized COVID-19 patients.
Looking at the economy, retail sales rose 1.9% month-over-month in September, outpacing the 0.7% increase that