FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri
- U.S. stock index futures retreated on Tuesday as lawmakers geared up to debate a coronavirus relief deal to limit the economic damage from the pandemic, with investors also keeping an eye on quarterly earnings reports from Pfizer and McDonald’s. Senate Republicans announced on Monday a $1 trillion aid package hammered out with the White House — four days before millions of Americans lose unemployment benefits — but the proposal sparked immediate opposition from both Democrats and Republicans.
Hopes of more government stimulus helped Wall Street’s main indexes close higher on Monday, with traders also tracking corporate America’s forecasts for a business recovery and signs of progress in developing a COVID-19 vaccine.
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Pfizer Sales Fall as Company Races Toward Covid-19 VaccinePfizer reported growth in its biopharma division in the latest quarter, but overall sales fell amid increased competition in its generic-drug business. The generic drug laws were devised to encourage competition and keep prices down. Tough sh!t Pfizer. Everything that happens happens as it should, and if you observe carefully, you will find this to be so.
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