- The Washington Times - Tuesday, October 20, 2020

Stocks bounced upwards on Tuesday on Wall Street as lawmakers on Capitol Hill race to try and meet a deal on coronavirus relief by the end of the day.

The Dow Jones Average rose about 150 points as markets opened, or about .5%, while the S&P 500 and the Nasdaq were both up .5%.

Two key Dow stocks — Procter & Gamble and Travelers — saw their stocks rise as third-quarter earnings results were better than expected.

The upswing comes as House Speaker Nancy Pelosi, California Democrat, and Treasury Secretary Steven T. Mnuchin will try one more time to finalize a stimulus deal before Election day.

The two “narrowed down their differences” during a Monday phone call, according to a top Pelosi aide, but still remain with several outstanding issues to tackle.



The list includes differences on a national testing plan, funding for state and local government, the level of boosted unemployment benefits, the inclusion of liability protections and what tax credits to implement.

“I’ve tried to make a tomorrow a time where we would exchange all of our differences of opinion, so that we can — and numbers and paper — so that we can see,” Mrs. Pelosi said late Monday night on MSNBC. “Let’s make a judgment. We may not like this or we may not like that, but let’s see, on balance, if we can go forward.”

“Now we finally, in the last 24 hours, have come to a place where they are willing to address the crisis, the coronavirus, to crush the virus,” she added.

President Trump repeated his offer Tuesday, while on Fox and Friends, to go above the $2.2 trillion that Democrats have asked for. However, Senate Republicans are already wary of the White House’s $1.8 trillion offer.

Meanwhile, the first of two Senate votes for a slimmed-down approach to coronavirus relief will kick off later Tuesday with a stand-alone bill to create a second round of Paycheck Protection Program loans.

On Wednesday, Senate Majority Leader Mitch McConnell, Kentucky Republican, will put up $500 billion package including unemployment relief, school funds, and testing resources.

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