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Added on the 03/12/2020 16:59:20 - Copyright : Wochit
US stocks dipped slightly on Wednesday as investors weighed the latest stimulus talk developments. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to reach a deal before the deadline. According to Business Insider, the two are now working to finalize a proposal before the weekend. Senate Democrats rejected Republicans' $500 billion "skinny bill," leaving both parties stuck in a deadlock. Disagreements over a relief bill are still significant between the Republicans and Democrats. The White House recently offered a $1.9 trillion bill, coming in well below Democrats' $2.2 trillion package.
Wall Street saw US stocks slide on Tuesday, as fiscal stimulus negotiations lurched into stalemate territory. According to Business Insider, initial results of the third-quarter earnings season kick-off from banks like Citigroup and JPMorgan also failed to impress investors. Apple announced its new iPhone 12 lineup--the tech giant's first major redesign of its flagship product in over 3 years. It didn't go over well: Apple's stock slid, too. And even gold, the ever-popular commodity, fell as much as 1.9%, to $1,886.54 per ounce. However, a breakthrough in stimulus talks could be near, as Senate Majority Leader Mitch McConnell signaled support for passing a deal prior to the upcoming election.
Stocks were relatively flat on Wednesday, but the Nasdaq managed to eke out a gain, hitting a new record high. Bobbi Rebell reports.
The Nasdaq just barely moved higher but it was enough to set a new record high, though the other key benchmark indexes lost ground. Bobbi Rebell reports.
US senators vote to suspend the federal debt limit, capping weeks of fraught negotiations to eliminate the threat of a disastrous credit default just four days ahead of the deadline set by the Treasury. IMAGES
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