NEW YORK - Wall Street closed higher at the end of a whipsaw session on Thursday as investors juggled hopeful and pessimistic news on the progress of stimulus talks Washington amid signs of waning momentum of economic recovery from the pandemic recession, now entering its ninth month.
Investors now look to the Labour Department's employment report expected Friday to further gauge the economy's progress. "It's all about fiscal stimulus and the ball is in Congress'court," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. Of the 11 major sectors in the S&P 500, seven ended the session higher. Real estate was the largest percentage gainer, while energy companies were the biggest losers, down 3.1 per cent.
Exxon Mobil Corp dropped 3.5 per cent after it signalled a bigger-than-expected third quarter loss due to falling oil prices and plunging demand.
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