• Dow closes higher for a third day, up 160 points, as coronavirus relief talks continue

    5 Aug 2020 | SET News
 

Dow closes higher for a third day, up 160 points, as coronavirus relief talks continue

Stocks rose across the board on Tuesday, building on the previous session’s strong gains, as lawmakers tried to make inroads on a new coronavirus stimulus package.


The Dow Jones Industrial Average gained 164.07 points, or 0.6%, to finish the day at 26,828.47 while the S&P 500 advanced a more modest 0.36% and ended at 3,306.51.


The Nasdaq Composite staged a late-day turnaround to add a similar 0.35%, notching its fifth straight day of gains and a record close. The Composite, up more than 21% in 2020, closed at 10,941.17.


Tuesday’s moves came as lawmakers worked to make inroads on a new coronavirus stimulus package.


The upswing on Tuesday came after House Speaker Nancy Pelosi said that she, Senate Minority Leader Chuck Schumer and White House chief of staff Mark Meadows held “productive” discussions on Monday, despite a handful of issues still outstanding.


Both sides have indicated they agree on another $1,200 stimulus check, but remain deadlocked on additional unemployment assistance.



Reference: CNBC

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