- US stocks rise on optimism about a pre-election stimulus.
- The talks will continue on Wednesday amid opposition from the Republican Party.
The main US stock indices opened higher Wednesday amid growing confidence that US lawmakers can reach an agreement on a new coronavirus aid package.
US President Donald Trump raised hopes for a stimulus breakthrough and said he was willing to accept a broader aid bill. White House Chief of Staff Mark Meadows added to the optimism, saying House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have made great strides in the stimulus talks.
Investors, however, remained skeptical thanks to opposition from Trump’s own Republican Party. Negotiations are set to continue on Wednesday and anything that indicates that both sides are leaning towards a deal would provide additional boost to overall market sentiment and fuel positive intraday momentum.
At the time of writing, the Dow Jones Industrial Average is up more than 100 points and the broader S&P 500 Index added 20 points for the day. Meanwhile, the high-tech Nasdaq Composite Index rallied around 80 points despite disappointing results from Netflix.
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