US stimulus noise keeping stocks elevated

US Senate Majority Leader McConnell has stated that the Senate would consider larger virus relief deal if the White House & Pelosi can reach an agreement.

He added that stimulus checks would not be included in the GOP's proposal and that the White House supported aid deal would get a vote.

Meanwhile, Mitt Romney says he would oppose $1.8T stimulus deal which likely means that there are many more who will do so as well. In the past, he has favoured unemployment insurance plans that offered more generous benefits than the Senate Republicans proposed.

Romney has repeatedly signalled a willingness to move in the direction of Democrats. Most notably, he was the only Republican to vote to convict President Donald Trump and remove him from office in February after his impeachment trial. 

Market implications

The barrage of headlines that are piling through thick and thin is keeping the bid alive on Wall Street as Congressional activity keeps hopes alive.

At the top of the hour, there are talks scheduled to take place between Steven Mnuchin and Nancy Pelosi. Whether there can be any good news ahead of the close is unknown, but markets are banking on it. 

S&P 500 on the verge of bull-extension