Wall Street closes higher as talks for economic stimulus negotiations between Treasury Secretary Steven Mnuchin and House Speaker Nancy continued
All three major indexes surged after U.S. House of Representative Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin both expressed hope for a breakthrough in partisan stimulus negotiations.
“We had the economic news which was pretty good, and continued discussions with Mnuchin and Pelosi drove hopes that we could have stimulus before the election before McConnell threw cold water on it,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. Market participants also were digesting Tuesday’s contentious presidential debate, where President Donald Trump and Democratic challenger Joe Biden talked over each other and traded insults as they sparred over the COVID-19 pandemic, healthcare and the economy.
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