US stocks open higher with stimulus talks in focus

Top Stories

»	GST collections clock nearly Rs 2 lakh crore in May after robust April
»	Centre clears first Strategic Investment Plan under PM-SETU scheme
»	Gold dips 1.36 pc this week over stable dollar, Fed rate hike expectation
»	BHAVYA scheme to create investment-ready industrial parks, boost manufacturing: DPIIT Secretary
»	Sensex, Nifty trade higher as investors track US-Iran ceasefire developments

IANS | 10 Oct, 2020
US stocks opened higher on Friday as Wall Street eyed updates concerning additional US coronavirus stimulus.

Shortly after the opening bell, the Dow Jones Industrial Average rose 158.03 points, or 0.56 per cent, to 28,583.54. The S&P 500 increased 21.23 points, or 0.62 per cent, to 3,468.06. The Nasdaq Composite Index was up 74.38 points, or 0.65 per cent, to 11,495.36, Xinhua news agency reported.

Of the 11 primary S&P 500 sectors, both materials and technology advanced 0.8 per cent in morning trading, outpacing the rest. Energy and real estate, however, struggled.

US House Speaker Nancy Pelosi spoke with Treasury Secretary Steven Mnuchin on Thursday afternoon to discuss "whether there is any prospect of an imminent agreement on a comprehensive bill," according to Drew Hammill, spokesman and deputy chief of staff for the House speaker.

"The secretary made clear the president's interest in reaching such an agreement," Hammill tweeted.

It is not clear whether congressional lawmakers and the Trump administration could bridge their differences and reach an agreement on the relief package before the presidential election on November 3.

US Federal Reserve Chairman Jerome Powell on Tuesday urged policymakers to provide more fiscal relief to households and businesses hurt by the pandemic, warning a prolonged slowing economic recovery could trigger typical recessionary dynamics.