Stocks were slightly lower in the early going Tuesday as investors focused on talks between Republicans and Democrats on a second coronavirus aid package and a deluge of second-quarter corporate results.
What’s driving the market? Senate Republicans on Monday unveiled a roughly $1 trillion coronavirus relief package, kicking off negotiations with Democrats over a package with some data suggesting the U.S. economic recovery is stalling. Analysts said the added jobless benefits have been credited with helping to cushion the economic blow of the COVID-19 pandemic.
On the vaccine front, Moderna Inc. MRNA, +3.07% kicked off its late-stage trial while Pfizer Inc PFE, +1.63% and BioNTech BNTX, +1.45% entered late-stage trials of their candidates also. The Case-Shiller home price index for May rose 3.7% on an annual basis in May. A reading on consumer confidence for July is due at 10 a.m. Eastern.
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