Market Update

Market volatility spurred by Congress, housing demand stays strong

     
Market volatility spurred by Congress, housing demand stays strong

The continued back and forth in Washington has pushed the stock market into continued volatility this week. President Trump’s comments on Wednesday that legislators were “starting to have some very productive talks” about a new federal economic support plan spurred Wall Street to its best finish since July. The Dow closed up 500 points, or 1.9%, in hopes of a solution for the millions of Americans who are still unemployed due to the pandemic. That hope was short lived as House Speaker Nancy Pelosi said Thursday that there would be no standalone support for airlines, rather it would have to come in the form of a comprehensive stimulus plan. 

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