Treasury Secretary Mnuchin says made a lot of progress in meeting with Pelosi on coronavirus aid – Reuters

Ross J Burland FXStreet

Treasury Secretary Mnuchin says made a lot of progress in meeting with Pelosi on coronavirus aid, according to Reuters.

Mnuchin, however, also said he does not have an agreement on coronavirus aid yet, with still more work to do.

In addition, the US House Speaker Pelosi, after meeting with Mnuchin, says she is seeking further clarification in coronavirus aid talks and negotiations are to continue.

Market implications

Combined with the earlier news, S&P 500 drops as McConnell states Republicans and Democrats are far apart of virus relief, US stocks are making fresh lows on the poor sentiment surrounding the Congressional progress on a stimulus package.

US politics is fraying bullish hopes on Wall Street into the final hour. Still, the S&P 500 is higher by 0.38% on what is left of the day, month and quarter.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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