Major U.S. stock indexes opened higher this morning, as investors continued to cheer efforts to reopen portions of the economy. Follow along with the latest stock market updates here:
Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York City, November 21, 2019.9:55 am: Bank stocks bolstered by economic reopening
The SPDR S&P Bank ETF and the Regional Banking ETF are both up about 5% as bank shares rallied on hope of the economy reopening. Those gains put both ETFs up more than 13% for the week and on pace for their biggest weekly gains since April. Citizens Financial, Regions, Truist, Citigroup and Wells Fargo drove those gains, jumping at least 14% this week. —Major U.S.
As states reopen their economies, Barclays combed through different data sets in order to assess how quickly life is getting back to normal. The firm found some encouraging signs, but noted that there's still a far way to go. For instance, Barclays found that S&P 500 company employees are gradually beginning to return to work. The median staffing pare back for companies within the benchmark index now stands at almost 90%, compared with a 95% reduction in mid-April.
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