Stocks rise as markets digest upbeat earnings and stimulus hopes
U.S. stocks finished higher after a wobbly start as investors priced in stronger corporate results for the summer. The S P 500 gained 0.5 percent, Dow rose 0.5 percent, Nasdaq edged up 0.2 percent, and small caps led with a 1.7 percent jump. Energy and financials supported advances while tech lagged. News of ongoing stimulus talks and improving housing data helped sentiment amid lingering uncertainty ahead of the election. Align Technology surged 35 percent after robust Invisalign earnings, boosting the market’s upbeat tone.
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Unemployment claims fall to 787K amid still high layoffs
The Labor Department reports 787000 initial unemployment claims last week, down from 842000, with revisions showing prior weeks lower. California drove much of the drop due to fraud cleanup, while ongoing COVID worries and extended benefits keep overall joblessness high and states newsably cautious.
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GOP moves to compel Facebook and Twitter chiefs to testify
The Senate Judiciary Committee voted to authorize subpoenas for Mark Zuckerberg and Jack Dorsey after Democrats boycotted the hearing. The panel seeks details on censorship claims and moderation policies tied to elections while Russian cyberattacks widen state and local government breaches.
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Roundup of 2016 Trump campaign and airline pandemic losses
The article outlines Trump campaign use of hacked emails and a social media push via Facebook and Twitter to spread unverified stories about Joe Biden. It also details the pandemic driven losses for U S airlines like American Southwest Delta and United with combined quarterly losses surpassing ten billion dollars and recovery hopes tied to Thanksgiving and Christmas travel. Southwest plans to end middle seat blocking December 1 citing science based findings while Delta aims to resume normal seating in the first half of next year and carriers warn of ongoing financial strain.
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