US stocks climb at open as stimulus deadline nears | Malay Mail

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NEW YORK, Oct 20 — A looming deadline for Washington policymakers to agree on a long-awaited US stimulus bill today did not deter Wall Street traders from pushing major indices up at the open. Shares dropped sharply yesterday, but about 40 minutes into trading, the benchmark Dow Jones Industrial...

The broad-based S&P 500 gained 0.9 per cent to 3,458.65 while the tech-rich Nasdaq rose 0.9 per cent to 11,582.07. — Reuters pic

Shares dropped sharply yesterday, but about 40 minutes into trading, the benchmark Dow Jones Industrial Average was up 0.8 per cent to 28,433.59. Negotiations on a spending package to follow up on the US$2.2 trillion CARES Act and aid the coronavirus-ravaged US economy have dragged on for months, and House Speaker Nancy Pelosi on Sunday gave a 48-hour deadline for negotiators to finalize a deal if it is to be passed before the November 3 election.

McConnell yesterday said Senate lawmakers would vote on a more narrow, US$500 billion measure to support small businesses but Democrats were sure to block the proposal.

 

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