Stocks rose in intraday trading on Tuesday as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin were said to have narrowed some of their differences on a coronavirus relief package.
The U.S. Department of Justice filed its long-awaited antitrust case against Alphabet, alleging Google abused its power. Court filings showed that 11 state attorneys general joined the lawsuit.
The Justice Department formally announced the charges against Google Tuesday.
Google said the suit was "deeply flawed," arguing that "people use Google because they choose to - not because they're forced to or because they can't find alternatives." The company said it would have a fuller statement later Tuesday.
As for stimulus talks, Pelosi set a Tuesday deadline for settling on terms of a relief package before the Nov. 3 presidential election.
“The Speaker continues to hope that, by the end of the day Tuesday, we will have clarity on whether we will be able to pass a bill before the election,” said Pelosi spokesman Drew Hammill via Twitter. “The two principals will speak again (Tuesday) and staff work will continue around the clock.”
Pelosi told House Democrats on Monday that significant areas of disagreement were standing in the way of any stimulus deal, Bloomberg reported, citing four people who participated in the closed conference call.
Despite increased optimism, Jim Cramer said he's putting his focus on earnings and the stocks that can perform with or without stimulus. Watch the video above to hear why P&G (PG) - Get Procter & Gamble Company Report is topping his watchlist.