Wall Street’s rally stalls on discouraging rise in layoffs

NEW YORK (AP) — Stocks are stalling in early trading on Wall Street Thursday following a discouraging report showing that layoffs are picking up across the country with coronavirus counts. The S&P 500 was 0.2% lower after the first 45 minutes of trading, easing off a rally that had sent it higher for four straight days. On the positive side, several companies reported better-than-expected profits, and investors are hoping Congress can agree on more aid for out-of-work Americans just as