Wall Street falls as tough U.S. stimulus talks loom

As tough U.S. stimulus negotiations loom, mixed corporate earnings reports in Europe left global equities treading water and sent investors into perceived safe-haven assets like government bonds and gold, which hovered near record highs.

U.S. stimulus talks loom. Image: stock chartDavid Randall for Reuters:

U.S. Senate Republicans on Monday announced a $1 trillion coronavirus aid package hammered out with the White House, which Senate Majority Leader Mitch McConnell touted as a “tailored and targeted” plan to reopen schools and businesses.

But the proposal sparked immediate opposition from both Democrats, who called it too limited compared with their $3 trillion proposal that passed the House of Representatives in May, and some Republicans who called it too expensive.

In midday trading on Wall Street, the Dow Jones Industrial Average .DJI fell 113.27 points, or 0.43%, to 26,471.5, the S&P 500 .SPX lost 3.29 points, or 0.10%, to 3,236.12 and the Nasdaq Composite .IXIC dropped 30.78 points, or 0.29%, to 10,505.49.

The rest of the week will see 179 S&P 500 companies reporting second-quarter earnings, including Google, Amazon and Apple.

MacDailyNews Take: As we wrote yesterday, we’re a long way from agreement on the next round of U.S stimulus. Hopefully, the Senate, House, and the Trump administration can line up sooner than later on an effective and efficient stimulus package.


  1. I have a plan.We should give free housing, free eduction, free health care, and a free living wage for everyone in the USA. Then we must open the boarders and close down all immigration enforcement. Why should “universal healthcare for all” and free education stop at the boarders edge. If we are decent people we should provide free universal healthcare for everyone in the universe. Anything less is just more systematic racial oppression by the evil privileged elite. Anyone on the planet that makes more then 50k a year is in the top 1 percent wage earner in the world. So if you make more then 50k your the top 1% and your evil greed is killing the systemic oppressed minorities of the world. Open the boarders and free stuff for everyone. After hundreds of years of western privilege, i think we can all agree its the right thing to do!

    “If your family income is $10,000 a year, you are wealthier than 84 percent of the world. If it’s $50,000 or more a year, you make more than 99 percent of the world.”


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