By Caroline Valetkevitch
NEW YORK, Sept 30 (Reuters) – U.S. stocks are set to close out another quarter with sharp gains on Wednesday, but investors could remain wary with the upcoming U.S. presidential election and mounting coronavirus cases.
The S&P 500 .SPX was on track for a September decline, its first monthly fall since March, when the coronavirus began its rapid spread across the United States.
The benchmark index was last up nearly 9% for the third quarter, following a nearly 20% rise in the second quarter. That would make its two-quarter gain its biggest such rise since 2009.
The Nasdaq composite index .IXIC was set to gain more than 11% for the third quarter, and register its biggest two-quarter rise since 2000.
Hopes of a strong recovery and historic stimulus from Washington and the Federal Reserve fueled the U.S. stock market rally following the coronavirus-driven crash