Stocks were rising in intraday trading on Monday as investors remained hopeful of further fiscal stimulus and prepared for quarterly earnings reports from the biggest banks in the United States.
This comes after stocks closed higher Friday and the S&P 500 had its best week in three months after the White House raised its coronavirus aid proposal to $1.8 trillion, up from $1.6 trillion. The offer, however, still remains below the latest proposal of $2.2 trillion from Nancy Pelosi and House Democrats.
Pelosi rejected the latest Trump proposal as “one step forward, two steps back,” but said she was still hopeful progress can be made toward a relief package.
"I remain hopeful that (Friday's) developments will move us closer to an agreement on a relief package that addresses the health and economic crisis facing America’s families,” Pelosi said in a letter to Saturday to colleagues.
It's expected that the House speaker and Treasury Secretary Steven Mnuchin will hold more aid talks this week.
As earnings season also prepares to kickoff, Jim Cramer suggested that investors start focusing on hard numbers rather than sentiment.
Catch his full take on the markets Monday in the video above.
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