U.S. stocks wavered between small gains and losses Friday, with the S&P 500 heading toward a fourth straight week of gains. U.S. stocks have drifted higher this week during a quiet week of trading, as investors have tried to reconcile uneven economic signals with expectations of further stimulus from governments and central banks. Government stimulus has powered the stock market’s recent recovery, sending the S&P 500 to a fresh record this week. The divergence between the stock market’s haves and have-nots has grown clearer recently, as companies benefiting from a shift to working from home during the pandemic have benefited while many others have floundered. The euro dropped 0.7% against the dollar after data showed a smaller-than-expected rebound in the eurozone’s manufacturing and services sectors.

Source: Wall Street Journal August 21, 2020 09:45 UTC