Press "Enter" to skip to content

Stock futures surge, halted for trading amid stimulus hopes



rssfeeds.usatoday.com

U.S. stocks were poised to open higher Tuesday on hopes that Congress would pass a stimulus bill to shield the economy from the coronavirus pandemic. 

Futures for the Dow Jones industrial average rallied more than 900 points, or 5%, triggering an automatic shock absorber. Standard & Poor’s 500 futures also jumped 5%.

Stocks were set to stabilize following a turbulent start to the week as Congress was nearing a rescue plan that could inject $2 trillion into the economy, according to reports. The measure is designed to provide direct payments of $1,200 to most Americans and $500 to children, help small businesses shuttered across the country and aid the hard-hit travel industry.

Democrats blocked a vote to advance the package Monday, criticizing a $500 billion fund that the Republican proposal sets aside for distressed businesses. They want to steer more assistance for public health and workers. Negotiations were expected to continue Tuesday.



Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *