Over the past week, the stock market seemed like it wanted to break out, especially with some positive news from generally better than expected bank earnings. However, the market's performance was muted, with uncertainty about rising COVID cases in Europe and the US, setbacks in vaccine / therapy development reported by Eli Lilly (vaccine study paused due to safety concerns), Johnson & Johnson (vaccine study paused due to safety concerns) and Gilead (Remdesivir may not improve COVID survival rate), proposed regulation of "big tech," the US presidential election and the nature / timing / amount of fiscal stimulus all serving to tamp down the bulls with all three major stock market indices up only slightly for the week. Some other potential negative news was China looking at approving its own technology protection law (restricts sensitive exports vital to national security), which could make doing business more difficult for all technology companies in China, including those with foreign investors.
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Managing Through the Uncertainty
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Over the past week, the stock market seemed like it wanted to break out, especially with some positive news from generally better than expected bank earnings. However, the market's performance was muted, with uncertainty about rising COVID cases in Europe and the US, setbacks in vaccine / therapy development reported by Eli Lilly (vaccine study paused due to safety concerns), Johnson & Johnson (vaccine study paused due to safety concerns) and Gilead (Remdesivir may not improve COVID survival rate), proposed regulation of "big tech," the US presidential election and the nature / timing / amount of fiscal stimulus all serving to tamp down the bulls with all three major stock market indices up only slightly for the week. Some other potential negative news was China looking at approving its own technology protection law (restricts sensitive exports vital to national security), which could make doing business more difficult for all technology companies in China, including those with foreign investors.