Stocks moving lower following Biden's proposed $1.9T-recovery package announcement
Added 01-15-21 04:04:02am EST - “U.S. equity futures? are trending lower hours before the opening bell? Friday? after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden spoke…” - Foxbusiness.com
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U.S. equity futures are trending lower hours before the opening bell Friday after President-elect Joe Biden announced his plans to propose a $1.9-trillion package to help along a recovery from the coronavirus pandemic. Biden spoke about the plan after Thursday’s market close.
Biden's coronavirus plan would include $1,400 checks for individuals, on top of $600 provided in the last COVID-19 bill. The plan would also extend a temporary boost in unemployment benefits and a moratorium on evictions and foreclosures through September. It also provides funds for a mass vaccination campaign and a major expansion of local public health efforts.
Markets have been mostly charging higher recently amid growing optimism that the rollout of coronavirus vaccines will set the stage for a big rebound for the economy and corporate profits later this year. Expectations are also rising for another round of stimulus coming for the economy because Democrats are set to soon have control of Congress and the White House.
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