Manuchin and Pelosi are optimistic about an incentive program – Global Markets

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After futures fell as much as 1.3% earlier today, Wall Street sentiment changed rapidly in the run-up to Wall Street trading. At the opening of the trade, price increases have already been recorded and it seems that the fears following the confrontation between the candidates for the presidency are quickly dissipating.

The reason for the change in sentiment is the remarks of Finance Minister Stephen Manuchin and Democratic Representative Nancy Pelosi regarding a fiscal incentive program. Recall that today is the “dead line” for achieving such a plan, because today ends the rescue plan provided by the US administration to the aviation sector. U.S. airlines have already hinted in recent days that “if the US administration does not grant a new plan, they will be forced to lay off workers” (for the full article).

Manuchin claimed shortly before the opening of trading that “he intends to make a serious effort towards signing an incentive plan and he hopes to be able to provide one of these.” Manuchin added that he believes that it is not necessary to provide an incentive program to the aviation sector only, but a comprehensive package. At the same time, Nancy Pelosi claimed that “she hopes to reach an agreement”. For markets it is enough.

Recall that earlier this week, the Democrats unveiled their proposal – a $ 2.2 trillion bailout package. The Democrats’ incentive program also includes support for local governments, support that Republicans have so far opposed. Recall that the original Republican plan is a $ 1.1 trillion plan, so the gaps are still large.

Given the imminent echo of the line, investors seem to believe U.S. lawmakers will be able to reach an agreement.

Comments on the article(2):

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  • 2.

    Regret

    Gideon
    30/09/2020
    17:21

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    One big one

    closed

  • 1.

    Throw more candles in the market

    Yossi K.
    30/09/2020
    17:15

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    Bitcoin is better

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