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US Stocks Move Lower                   09/29 10:12

   Stocks moved lower in mid-morning trading Tuesday, as the market cooled off 
from the rally the day before and as investors waited for the debate between 
President Donald Trump and Democratic challenger Joe Biden.

   (AP) -- Stocks moved lower in mid-morning trading Tuesday, as the market 
cooled off from the rally the day before and as investors waited for the debate 
between President Donald Trump and Democratic challenger Joe Biden.

   The S&P 500 index was down 0.3% after briefly flirting with mild gains in 
the early going. The Dow Jones Industrial Average was down 0.4% as of 11 a.m. 
Eastern. The technology-heavy Nasdaq composite was down 0.3%.

   Banks, energy companies and stocks that depedn on consumer spending had some 
of the biggest losses, while several big technology and communications 
companies were higher.

   Technology stocks, which have long been the driver of this year's stock 
market moves, were mostly higher. Advanced Micro Devices, Twitter and Facebook 
were all up roughly 1%, although the stock had been higher at the opening of 
trading.

   Investors are waiting for Tuesday's 90-minute televised Trump-Biden debate. 
The debate comes as coronavirus deaths worldwide crossed 1 million. Cases in 
the U.S. are on the rise again as states attempt to reopen schools and 
factories. Tens of millions of Americans remain out of work.

   Markets are watching the November election's impact on tax policy and how 
long it might take to determine the winner.

   "With a reasonable polling lead, one could argue that Joe Biden has more to 
lose here than President Trump," said Robert Carnell of ING in a report. He 
noted that with some potential for gaffes or other colorful moments, the debate 
might be "cringe-worthy but unlikely to deliver an electoral car-crash for 
either side."

   Investors' confidence has been supported by infusions of central bank 
support into struggling economies and hopes for development of a coronavirus 
vaccine.

   Congress still is arguing over the size of a new support package after 
additional unemployment benefits expired. House Speaker Nancy Pelosi and 
Treasury Secretary Steven Mnuchin have agreed to hold another round of stimulus 
talks. However with the death of Supreme Court Justice Ruth Bader Ginsburg, 
Congress has redirected much of its attention to President Trump's nominee to 
replace her.

 
 
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