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Data: FactSet; Chart: Axios Visuals

U.S. stocks continue their surge, with the S&P 500, Dow Jones Industrial Average and the Nasdaq all finishing the day higher on Wednesday, as seemingly every sector of the market has rallied since the start of the third quarter.

What it means: The "buy anything" rally continues as reopening and stay-at-home stocks both remain bid and every sector of the S&P has seen a sizable jump since the quarter began on July 1.

Between the lines: U.S. economic data has been mixed in recent days, as private payroll processor ADP's jobs report missed expectations by more than 500,000 jobs and the Fed's Beige Book found the economic recovery slowed in August and “Continued uncertainty and volatility related to the pandemic, and its negative effect on consumer and business activity, was a theme echoed across the country.”

The state of play: The S&P 500 hit a new record high and rose by the most in nearly two months, closing higher for the ninth time in the past 10 sessions.

  • Defensive and value stocks led the gains, catching up after tech stocks boomed on Tuesday.
  • The Russell 1000 Value Index rose 1.7% and utilities and financial stocks — two of the three worst-performing sectors in 2020 — each rose nearly 1.4%.

The big picture: The Nasdaq has risen by 18.7% in just the third quarter. The S&P and Dow are trailing closely behind, having gained 15% and 13%, respectively, since July 1.

  • September has built on August's impressive numbers, when the S&P rose by more than 7%, for the best August since 1986, the Dow had its best August since 1984, and the Nasdaq recorded its strongest August since 2000.

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Dion Rabouin, author of Markets
Sep 16, 2020 - Economy & Business

Eurozone economic sentiment rises to its highest in 16 years

Data: ZEW; Chart: Axios Visuals

The September reading of the eurozone’s ZEW survey of economic growth expectations rose 10 points from August to 73.9, the highest level in 16 years.

By the numbers: The September reading of Germany’s ZEW survey also rose, hitting 77.4, which is up six points and about eight points higher than the estimate.

Updated 25 mins ago - Politics & Policy

Where key GOP senators stand on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee this week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg with less than 50 days until Election Day.

The state of play: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." Two GOP senators — Sen. Lisa Murkowski (R-Alaska) and Sen. Susan Collins (R-Maine) — have said they oppose holding a vote before the election, meaning that two more defections would force McConnell to delay until at least the lame-duck session of Congress.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 30,873,714 — Total deaths: 958,383— Total recoveries: 21,103,559Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 6,788,343 — Total deaths: 199,421 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure
  4. Education: What we overlooked in the switch to remote learning
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.