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Investing.com – The Dow added to gains on Friday, as stimulus hopes were boosted on reports the White House raised its coronavirus stimulus offer to $1.8 trillion, though that is still short of the Democrat’s $2.2 trillion proposal.
The Dow Jones Industrial Average rose 0.77%, or 217 points. The S&P 500 was up 0.91%, while the Nasdaq Composite gained 1.16%.
Treasury Secretary Steven Mnuchin is expected to discuss the new $1.8 trillion proposal with House Speaker Nancy Pelosi when the two speak Friday, The Wall Street Journal reported, citing sources.
Earlier on Friday, Senate Majority Leader Mitch McConnel said another fiscal package was unlikely in the next three weeks, while U.S. President Donald Trump hinted talks were progressing.
Reports the White House is raising its offer comes a day after Pelosi rejected the idea of passing standalone aid bills, and stressed the importance of a broader relief package.
