Stocks posted gains in intraday trading on Friday after President Donald Trump signaled he wants a comprehensive aid package, reversing a decision he made earlier this week to call off U.S. stimulus negotiations.
Treasury Secretary Steven Mnuchin has told House Speaker Nancy Pelosi that Trump wants agreement on a large-scale stimulus package, a Pelosi spokesman said. Trump had ordered his representatives on Tuesday to halt talks until after the Nov. 3 presidential election because he said Pelosi was negotiating in bad faith.
Stocks ended higher Thursday as Wall Street parsed the mixed signals about a stimulus package from Trump and Pelosi. Pelosi said Thursday she wouldn't agree to a stand-alone relief bill for airlines without a guarantee that a more comprehensive package would be addressed.
Jim Cramer said that with all of the back and forth around stimulus over the past couple of months, and Senate Majority Leader's Mitch McConnell's comments on Friday morning that a stimulus deal would not pass before an election leaves everyone wondering what exactly that means.
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