Day: September 3, 2020

4 Finance Stocks That Beat S&P 500’s Sizzling August Rally

After witnessing a volatile first half of the year due to the pandemic-led concerns, the S&P 500 has recorded its best August in the past 36 years, soaring about 7%. Of the 11 S&P 500 sectors, nine witnessed growth.

Major technology companies’ resilience to the coronavirus crisis heavily supported the market’s momentum. Rising work-from-home and online shopping trends along with increasing digital payments helped major tech stocks gain on the surging demand for their products and services.

Credit for this rally can also be given to the several COVID-19 vaccine-related developments during the month, which aided Healthcare stocks. Further, the reopening of the economy benefitted the coronavirus outbreak-hit sectors like airlines, retailers, hotels and restaurants, and cruise line operators to some extent.

Notably, a slew of positive economic data helped instill optimism in investors. Per a report by the Commerce Department, consumer spending in the United States grew 1.9% in

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Federal lawsuits filed in Pittsburgh against insurance companies that didn’t pay for pandemic-related losses

Following on the heels of dozens that have already been filed across the country, three potential class-action lawsuits related to covid-19 were filed in federal court in Pittsburgh late this week.

All three complaints were filed against insurance companies alleging that they failed to cover claims for losses their customers sustained because of government-ordered shutdowns during the pandemic.

In one complaint filed in U.S. District Court, James and Jessica McMenamin Jr., of Butler County, are suing Arch Insurance Co. and Arch Insurance Solutions Inc. for failing to cover their losses for a trip that was canceled.

The couple booked tickets on Jan. 23 to travel from Pittsburgh to London, and then for a vacation tour from London to Rome, departing June 18 and returning 10 days later. They booked their travel

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