S&P cuts losses as Pelosi says stimulus agreement 'just about there'
- Just when the market thought it was out, fiscal stimulus pulls it back
in.
- Stocks had broken out of their channel and were selling off, but
spiked as Nancy Pelosi sounded more confident at today's press
conference,
saying they were "just about there".
- But later in the press conference, Pelosi said any bill would still
have to go through legal and the CBO, which doesn't give it a very good
chance of being passed before the election just from a time
consideration.
- Pelosi also clarified that state and local funding and liability
protection are still sticking points, leaving the question of just how
much
progress has been made.
- As it stands, the S&P (SP500) has trimmed gains and is flat, as is the
Dow (DJI). The Nasdaq (COMP) is off 0.4%.
|Today, 11:06 AM|26 Comments
- Just when the market thought it was out, fiscal stimulus pulls it back
in.
- Stocks had broken out of their channel and were selling off, but
spiked as Nancy Pelosi sounded more confident at today's press
conference,
saying they were "just about there".
- But later in the press conference, Pelosi said any bill would still
have to go through legal and the CBO, which doesn't give it a very good
chance of being passed before the election just from a time
consideration.
- Pelosi also clarified that state and local funding and liability
protection are still sticking points, leaving the question of just how
much
progress has been made.
- As it stands, the S&P (SP500) has trimmed gains and is flat, as is the
Dow (DJI). The Nasdaq (COMP) is off 0.4%.
|Today, 11:06 AM|26 Comments
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