Weekly Financial Market Update: October 9, 2020
October 12, 2020
The twists and turns of discussions in Washington surrounding a new congressional stimulus package to combat the economic effects of the COVID-19 pandemic dominated this week’s market headlines. After being released from Walter Reed Medical Center for COVID-19 treatment early in the week, President Trump cut off negotiations with Democrats on a fresh aid package until after the November election. On Thursday and Friday, however, momentum toward a deal seemed to build after President Trump said talks with congressional Democrats had restarted and reports surfaced that the White House increased the size of its preferred stimulus package to $1.8 trillion.
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