BREAKING NEWS Public Health warns of possible coronavirus exposure at saloon in Red Bluff Full Story

Stocks tumble on concerns about no stimulus deal and more Covid restrictions to come

Mario Gabelli, chairman & CEO of Gamco Investors, shares his thoughts on which sectors of the economy can bounce back in 2021, potentially after a Covid-19 vaccine is released.

Posted: Oct 15, 2020 7:01 AM
Updated: Oct 15, 2020 7:01 AM

Wall Street opened sharply in the red on Thursday. Investors have plenty to worry about: There is still no US stimulus deal on the horizon and Europe is returning to restrictions to limit the spread of Covid-19.

The Dow opened 1.1%, or 322 points, lower, while the S&P 500 -- the broadest measure of the US stock market -- fell 1.3%.

The Nasdaq Composite opened down 1.6%.

It's looking to be the third straight day of losses for the three indexes.

European stocks look even worse: They were deep in the red as the opening bell rang in New York, with the FTSE in London falling more than 2% and Germany's DAX down nearly 3%. Various European cities rolled out renewed restrictions to limit the spread of the pandemic after the continent saw rapidly increasing infection numbers.

Back in the United States, investors are still keeping fingers crossed for another stimulus deal before the presidential election in a mere 19 days.

But it doesn't look good. Treasury Secretary Steven Mnuchin said Wednesday although Democrats and Republicans "continue to make progress on certain issues," the two sides "still remain far apart" on others.

On top of that, investors got a mixed bag of economic data Thursday morning.

First-time jobless claims rose and more people moved onto benefit programs designed to bridge the gap after regular aid rolls off.

Meanwhile, the New York Federal Reserve Bank's manufacturing index came in far lower than expected, while the Philadelphia Fed's business index beat expectations.

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 923648

Reported Deaths: 17559
CountyConfirmedDeaths
Los Angeles3050707044
Riverside675521306
San Bernardino641311073
Orange594421468
San Diego55898885
Kern34114420
Fresno31195439
Sacramento25882499
Santa Clara24665404
Alameda23636463
San Joaquin21988492
Contra Costa18877243
Stanislaus17814400
Tulare17730291
Ventura14409166
Imperial13023338
San Francisco12277145
Monterey1153892
San Mateo11278159
Santa Barbara9886126
Sonoma9601136
Merced9588155
Kings848683
Solano758676
Marin7107127
Madera506676
Placer429059
San Luis Obispo424032
Yolo325060
Butte313453
Santa Cruz284825
Shasta199931
Napa199816
Sutter188912
San Benito144915
El Dorado13684
Yuba133810
Mendocino115421
Tehama9219
Lassen7711
Lake70216
Glenn6793
Nevada6328
Humboldt56910
Colusa5536
Calaveras34721
Amador33716
Tuolumne2855
Inyo24015
Siskiyou2140
Mono1822
Del Norte1801
Mariposa812
Plumas760
Modoc450
Trinity280
Sierra60
Alpine40
Unassigned00
Chico
Scattered Clouds
55° wxIcon
Hi: 80° Lo: 44°
Feels Like: 55°
Oroville
Clear
55° wxIcon
Hi: 80° Lo: 47°
Feels Like: 55°
Paradise
Scattered Clouds
55° wxIcon
Hi: 75° Lo: 52°
Feels Like: 55°
Chester
Clear
40° wxIcon
Hi: 69° Lo: 35°
Feels Like: 35°
Red Bluff
Clear
49° wxIcon
Hi: 81° Lo: 48°
Feels Like: 47°
Willows
Scattered Clouds
55° wxIcon
Hi: 81° Lo: 46°
Feels Like: 55°
We're closing out the month of October on a beautiful note weather-wise over northern California with plenty of sunshine and above-average temperatures. Halloween will bring slightly warmer temperatures and more sunshine.
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