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Stocks rise as investors hope for stimulus deal in the next 48 hours

October 19, 2020


U.S. stocks rose on Monday as investors hoped for a stimulus deal from Washington, although a rising number of Covid-19 cases dampened sentiment.

The Dow Jones Industrial Average traded 30 points higher, or 0.1%, while the S&P 500 gained 0.2% and the Nasdaq Composite climbed 0.3%.

House Speaker Nancy Pelosi’s office said over the weekend that she is giving the Trump administration 48 hours to reach an aid deal before the Nov. 3 election. Pelosi and Treasury Secretary Steven Mnuchin continued their discussions on Saturday. They agreed to speak again on Monday.

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