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.
And Senate Majority Leader Mitch McConnell said this morning that a stimulus package is "unlikely in the next three weeks," which means that there will not be a stimulus package voted on before the election.
And Pelosi told MSNBC that she plans to talk to Mnuchin later Friday.
So, if Wall Street is busy trying to understand D.C., while D.C. doesn't understand Wall Street, then what happens to Main Street?
Jim Cramer discusses how Main Street is getting lost while D.C. and Wall Street don't understand one another.
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