Market not worried about virus today
The S&P 500 is up 0.8% to trade slightly below session highs. Coming up at 12:30 p.m. ET are congressional testimonies from Fed Chair Powell and Treasury Secretary Mnuchin regarding the economy and the CARES Act. The coronavirus remains in the news but has remained a quieter point of conversation this week due to the gains in the stock market. Companies continue to work toward a vaccine while states are reimposing restrictions (short-term pain) to hopefully flatten the coronavirus caseload curve. Overseas, the major European indices closed mixed. Germany's DAX gained 0.6%, UK's FTSE lost 0.9%, and France's CAC lost 0.2%. The Europe Stoxx 600 increased 0.3%.