SCHWAB MARKET UPDATE

PGWM, LLC

SCHWAB MARKET UPDATE

Stocks Lower Amid Persistent Virus Uncertainty

U.S. equities finished out a rocky week lower, as investors weighed further signs of progress on the COVID-19 vaccine/treatment front, as well as implications of the recent spiking of new virus cases in the U.S. and Europe. The move by the Department of Treasury to allow some of the Fed's emergency lending programs to expire at the end of the year also garnered attention, but the market reaction was relatively tame. Meanwhile, Eli Lilly and Company received Emergency Use Authorization (EUA) by the FDA for its arthritis therapy, in combination with remdesivir, for the treatment of COVID-19, while Pfizer and BioNTech announced that they will submit a request today to the FDA for EUA of their C

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PGWM, LLC

Nov 13
9 min

Wild Week Comes to a Close on a High Note

U.S. equities finished the last trading session of a wild week on a positive note, but were unable to secure a sweep of weekly gains. The markets have seen some large swings since Monday's rally, with optimism of a COVID-19 vaccine sparking some rotation into the hampered cyclically-natured and value stocks to the detriment of the high-flying mega-cap growth issues. Festering concerns regarding the implications of the persistent surge in new COVID-19 cases also had a hand in the bumpiness this week. The earnings front continued to paint a positive picture, courtesy of results from Dow members Walt Disney and Cisco Systems, along with Applied Materials. However, economic news was mixed, showi

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PGWM, LLC

Nov 7
10 min

Markets Post Strongest Weekly Gain Since April

The U.S. equity markets were able to shed some of their early losses and finish mixed and near the unchanged mark to cap off a strong week. Investors appeared to take a bit of a breather on the heels of the sharp rally this week that recouped last week's steep drop. Uncertainty surrounding the presidential outcome remained, as votes in key battleground states continue to be tallied. However, a stronger-than-expected October nonfarm payroll report seemed to keep sentiment buoyed. In earnings news, T-Mobile gained ground in the wake of its report, while Peloton was lower in choppy trading after warning of some service issues, and guidance and a bookings miss weighed on shares of Electronic Art

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PGWM, LLC