Stocks fell in intraday trading on Monday to kick off a week heavy with earnings from U.S. tech giants as coronavirus infections surged, stimulus negotiations remained at a stalemate and investors prepared for the presidential election just more than a week away.
Stocks closed mostly higher Friday but the S&P 500 fell 0.5% for the week, its first weekly loss in four, after negotiations between the White House and House Democrats on more economic aid for the struggling U.S. economy didn't make much headway. The Dow declined 1% for the week and the Nasdaq fell 1.1%.
There are still talks happening on Capitol Hill between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin.
And Pelosi said Sunday the House could pass a relief package this week but "that's up to (Senate Majority Leader) Mitch (McConnell) as to whether it would happen in the Senate and go to the president's desk, which is our hope and prayer."
White House economic adviser Larry Kudlow told CNBC Monday that while stimulus talks were still ongoing President Donald Trump can’t accept parts of the plan the Democrats have proposed.
So, what about the market volatility this week?
Jim Cramer weighs in on what investors should watch ahead of the last week before the Presidential election and why he's putting money to work amid the increased volatility.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Read their market updates.
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