Attention is now on Washington, where Democrats and Republicans are battling to hammer out a new package to save the US economy from the ravages of the pandemic.
Democrat House Speaker Nancy Pelosi said a meeting with Treasury Secretary Steven Mnuchin and White House chief of Staff Mark Meadows had been"productive".In the senate, Chuck Schumer said both sides were"moving closer together" but added there were a"lot of issues that are still outstanding". Leaders of top companies including Walmart, Facebook, Microsoft, Google-parent Alphabet and Starbucks urged lawmakers to push a deal through, warning of a"catastrophic" impact on the economy and employment if a new round of federal aid is withheld."There's a big desire from both parties to get some kind of stimulus passed. The way the market is reacting, I think the market is expecting that," Bob Phillips, at Spectrum Management Group, said.
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