Investors remained hopeful on Monday of further fiscal stimulus and prepared for quarterly earnings reports from the biggest banks in the United States.
The rise in stocks follows stocks closing higher on 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.
Jim Cramer weighs in on what we need to be watching when it comes to stimulus negotiations and why he doesn't think stimulus is likely before the election.
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