U.S. Stocks Rise as Lawmakers Haggle Over Stimulus: Markets Wrap
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- Pelosi, White House narrowing gap on U.S. spending bill talks
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U.S. stocks rose even as lawmakers remained unable to clinch a fresh aid package to bolster the economic recovery. The dollar weakened.
The S&P 500 bounced back from Monday’s selloff as House Speaker Nancy Pelosi continued to negotiate with the White House on a deal near $2 trillion. The Republican-controlled Senate continued to signal it favored a bill about one-quarter that size. Both houses of Congress need to approve any legislation. Stocks got a boost when Federal Reserve Bank of Chicago President Charles Evans said he’s “somewhat optimistic” about a 2021 economic recovery.