(Reuters) – Global stocks scaled five-week highs Monday on hopes that more government stimulus would come and that the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend. Investor optimism that Washington will work through talks that have repeatedly stalled to deliver another round of fiscal stimulus drove major U.S. stock indices to highs last seen in early September. Hopes that the top Wall Street banks will announce a decent set of third-quarter earnings this week that show business was not as weak as feared also helped, while excitement over an expected debut of Apple Inc’s latest iPhone on Tuesday buoyed technology stocks. Slugged by stronger investor demand for risk, the U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high. The U.S. bond market is closed on Monday for Columbus Day. The cheer over the economic outlook and government stimulus did not boost oil prices, which dropped as investors focused on a boost in supply. The S&P 500 jumped 57 points, or 1.64%, to 3,534.22, within spitting distance of its record high of 3,580.84 struck on Sept. 2. The Dow Jones Industrial Average climbed 250 points, or 0.88%, to 28,837.52.

Shares in Apple surged 6.4% while those in Amazon rallied 4.8% ahead of its Prime Day shopping event on Oct. 13 and 14. That helped the Nasdaq Composite to stage its biggest one-day rally in a month, jumping 296 points, or 2.56%, to 11,876.26.

“The market leaders are once again the tech names, supported by the fact that the economy continues to expand,” said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York. MSCI’s gauge of stocks across the globe climbed 1.43% to 592.96, a

For Immediate Release

Chicago, IL – October 2, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Zoom Video Communications, Inc. ZM, salesforce.com, inc. CRM, FedEx Corporation FDX, NIKE, Inc. NKE and Deere & Company DE.

Here are highlights from Thursday’s Analyst Blog:

Will October Regain Momentum After the Worst September Since 2011?

Wall Street’s five-month-long rally has halted in September, the historically worst-performing month in Wall Street. But this year it was more than that as all the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — tumbled 2.3%, 3.9% and 5.2%, respectively, to record their worst September since 2011.

At present, economists and financial experts are busy assessing how October will behave — will it see the continuation of a downturn and almost day-to-day fluctuations or will the month turn the wheel and put the market back in a northbound trajectory? Although no clear-cut inference can be drawn at this stage, several important factors, both negative and positive, for October are clearly visible. Let’s discuss these in detail.

Sources of September’s Volatility Persist

The factors that led to severe volatility last month are present in October too. A spike in new coronavirus cases, lack of a vaccine for COVID-19, uncertainty about the second round of fiscal stimulus despite repeated warning from the Fed and several economists, and intensifying geo-political conflict between the United States and China are all present in October.

Moreover, this is the month before the U.S. presidential election scheduled on Nov 3. Historically, stock markets have remained volatile in the month before the election. Market participants generally choose to

A Maryland school district responded to one student’s reported use of Nazi imagery as his profile photo on Zoom earlier this week, which peers observed during a virtual art class.



a person using a laptop computer sitting on top of a table: A student in Tarpoly Creek, Australia, completes school work from home on April 5, near the onset of the new coronavirus pandemic. This week, Maryland school district officials responded to reports that one student displayed a hateful image on Zoom, the teleconferencing application many schools are using to hold classes remotely.


© Lisa Maree Williams/Getty
A student in Tarpoly Creek, Australia, completes school work from home on April 5, near the onset of the new coronavirus pandemic. This week, Maryland school district officials responded to reports that one student displayed a hateful image on Zoom, the teleconferencing application many schools are using to hold classes remotely.

The Damascus High School student who posted the avatar, described as “a cartoon image of a Nazi” by administration officials, was not identified by name. However, Kevin Yates, Damascus High School’s principal, reportedly confirmed the student will face consequences for violating the district’s code of conduct in a letter issued to families and obtained by WUSA9, a CBS-affiliated news station based in Washington, D.C.

“I am writing to share information about an incident that occurred during your child’s third-period art class today and how it is being addressed. A student posted a cartoon image of a Nazi as a Zoom avatar,” Yates wrote in the Wednesday letter sent to parents whose students are also enrolled in the class, according to WUSA9. The letter reportedly said school officials ensured the photo was removed from the student’s Zoom account “immediately” after the incident was brought to their attention, in addition to contacting both the student and his family.

Hybrid And Online Classes During COVID-19: The Pros And Cons

UP NEXT

UP NEXT

“We apologize for the hateful image that your child witnessed,” Yates’ letter continued. “The student who posted the image will receive consequences aligned with the [Montgomery County Public Schools] Student Code of Conduct. This type of behavior will not be tolerated at Damascus