Posted on 12/11/20
| News Source: FOX Business
U.S. equity markets were under pressure Friday morning amid concerns a deal on a COVID-19 stimulus package won’t materialize until after the holidays.
Dow Jones Industrial Average futures were down 98 points, or 0.33%, while the S&P 500 and the Nasdaq Composite were weaker by 0.43% and 0.5%, respectively.
Senate Majority Leader Mitch McConnell, R-Ky., said on Thursday he would probably not support the $908 billion bipartisan proposal for COVID-19 relief, and instead favors a smaller package.
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Meanwhile, House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., rejected the Trump administration’s $908 billion proposal for not including a federal jobless benefit supplement. Congress is tentatively scheduled to begin recess on Dec. 21.
Pfizer Inc. and BioNTech SE shares were higher Friday morning after a U.S. Food and Drug Administration panel recommended the companies’ COVID-19 vaccine be approved for emergency use. A final decision could come as early as Friday and distribution would begin almost immediately. Read more at FOX Business