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Investing.com — U.S. stock markets started the week in positive mood, on revived hopes for some kind of compromise over a fresh package of economic relief measures from Washington.
Treasury Secretary Steven Mnuchin told CNBC that a deal with House Democrats is still possible this week, despite the collapse of talks last week with the two sides still over $2 trillion apart as regards the size of the measures needed. However, Mnuchin reiterated the administration’s refusal to allocate $1 trillion to state and local governments to help deal with the costs of the crisis, a core demand of Speaker Nancy Pelosi’s negotiating team.
By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was up 190 points, or 0.7%, at 27,624 points. The S&P 500 was up 0.3% and the Nasdaq Composite was up 0.2%.
