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US stocks slide from record levels after Fed minutes reveal concern for economic recovery - Business Insider

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US stocks slide from record levels after Fed minutes reveal concern for economic recovery

and reporting record same-store sales growth. Lowe's similarly gained after reporting that growing interest in do-it-yourself projects drove 30% revenue growth.

Investors also mulled new signs of progress in reaching a stimulus deal. House Speaker Nancy Pelosi suggested on Tuesday that Democrats might cut down its fiscal relief proposal to speed up negotiations, adding that measures removed from the smaller bill would be reassessed after November's elections.

Republican leaders also hinted at resuming talks. Senate Majority Leader Mitch McConnell said Pelosi's decision to strike $25 billion in Postal Service funding was enough to restart negotiations. The Senate is on recess until September but could reconvene should lawmakers reach a compromise.

Hopes for an expedited deal were somewhat offset by fears about schools and colleges starting new terms as virus cases remain elevated. Several universities have pivoted to fully online classes after on-campus coronavirus outbreaks. Experts worry that some schools' lax enforcement of social-distancing measures could fuel a new wave of virus hot spots in the US.

 

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here're all the people who care

Well Duh....

'U.S. Economy Drops 32.9% In Worst GDP Report Ever' can someone tell me how stock market is not some shady ponzi scheme with retirement plans as hostages?

coincidence?

Kudlow will be our in the morning with the pump

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