Stocks Attempt To Rally As Investors Hope For More Detail On Trump’s $1 Trillion Stimulus Package

The stock market had a mixed open on Friday, attempting to build on modest gains from the previous session as investors remain watchful for more progress on the Trump administration’s $1 trillion relief package and hope for a positive end to a historically volatile week of trading.

As of 10:30 a.m. on Friday, the Dow Jones Industrial Average is up 1.4%, almost 300 points, while the S&P 500 gained 1.3% and the Nasdaq Composite rose 2.3%. Overnight stock futures indicated that the market could open slightly higher, with Nasdaq futures hitting their “limit up” level of 5% in pre-market trading. Despite rallying throughout the night, futures pared back gains and pointed to a potentially lower market open. from a three-year low on Thursday, spurred by a rally in energy and tech stocks. The Dow finished nearly 1% higher yesterday, while the S&P 500 was up 0.5% and the Nasdaq outperformed, surging 2.3%.

Investors nervously continue to await more progress on the Trump administration’s $1 trillion coronavirus relief package, released by Senate Republicans on Thursday. The bill includes direct cash payments of up to to struggling Americans and $300 billion in small business loans to companies with less than 500 employees.up to $50 billion in federal relief for airlines and $150 billion for other distressed businesses, like in the travel and tourism industry.the bill, which is “not at all pro-worker and instead puts corporations way ahead of workers,” according to a statement from House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.

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