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

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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