US stock markets rally after Trump surprises on stimulus

European stocks barely react while volatility remains elevated _________________________________________ US stocks gained ground on Wednesday after President Donald Trump suggested a new stimulus bill, although the chances of lawmakers agreeing to a deal before the election appeared to fade. The S&P 500 index closed 1.7 per cent higher and the tech-focused Nasdaq Composite gained 1.9 per cent, as the indices recovered from falls on Tuesday when Mr Trump announced he would walk away from negotiations with Democrats about the size of a second bailout for the pandemic-scarred economy. Mr Trump…

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Oil price sinks and global equities rally cools

Morgan Stanley

Oil prices sunk on Tuesday and a global equities rally that had kicked off the week fizzled, as a month of choppy trading neared its end and investors awaited word on a potential stimulus deal out of Washington. The benchmark S&P 500 index slipped 0.5 per cent, ending a three-day streak of advances. US stocks were weighed down by the energy sector as shares of the oil majors ExxonMobil and Chevron both fell more than 2 per cent. Brent crude, the oil price benchmark, settled 3.3 per cent lower at…

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US stocks decline as investors weigh GOP stimulus plan and earnings disappointments

US stocks dropped on Tuesday as investors mulled Senate

US stocks dropped on Tuesday as investors mulled Senate Republicans’ coronavirus stimulus package and a slew of earnings reports. The GOP unveiled its initial fiscal relief plan on Monday. The $1 trillion package includes another round of $1,200 payments and additional funds for small-business loans. Still, experts expect a long negotiation period as Republicans and Democrats spar over their respective proposals. Earnings misses from 3M and McDonald’s weighed on major indexes. Oil fell slightly, with West Texas Intermediate crude dropping as much as 0.8%, to $41.26 per barrel. US stocks slid on Tuesday as investors braced for prolonged…

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