Stocks were lower in intraday trading on Monday as investors eyed any signs of progress on a U.S. stimulus package.
House Democrats and the White House are expected to meet later Monday.
After weekend negotiations with Treasury Secretary Steven Mnuchin, House Speaker Nancy Pelosi set a deadline of Tuesday for settling on terms of a relief package if there is any hope of sealing an agreement before the election.
Pelosi said the 48-hour deadline from Saturday "only relates to if we want to get it done before the election, which we do.
"We’re saying to them, we have to freeze the design on some of these things - are we going with it or not and what is the language? I’m optimistic because again we’ve been back and forth on all this,” Pelosi told ABC News.
However, opposition to a large stimulus package--President Donald Trump has said he's willing to go above $2.2 trillion--exists in the Republican-controlled Senate.
Jim Cramer said there can't be a stimulus deal without President Trump and Senate Leader McConnell at the table. Adding that the stimulus hangup, may be helping market bulls grow comfortable with a potential Biden presidency.
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