U.S. Stocks Grind Higher With Focus on Stimulus: Markets Wrap

Financial shares are among worst performers after AIG’s loss
Gold climbs to an intraday record and silver joins in gains

Iain Stealey, chief investment officer of fixed income at JPMorgan Asset Management International, discusses where to find value in bond markets.Source: Bloomberg

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By Brendan Walsh

August 3, 2020 at 9:44 PM UTC

Updated on

August 4, 2020 at 8:01 PM UTC

This article is for subscribers only.

U.S. equities eked out a gain as investors tried to gauge the outlook for a stimulus bill to blunt the economic impact of the coronavirus pandemic.

The S&P 500 Index ended 0.4% higher after wavering between small losses and gains throughout the day. Energy companies led the advance as crude climbed. Financial shares suffered as American International Group Inc. fell after posting a $7.9 billion loss. Treasuries rose. Argentina’s overseas notes rallied after the government reached a $65 billion restructuring deal with creditors.