NEW YORK (Reuters) – Growing risk appetite helped push U.S. stocks and crude prices higher on Monday as renewed optimism surrounding stimulus negotiations and news of President Donald Trump’s health progress helped calm investor anxiety.
U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued talks aimed at arriving at a bipartisan agreement on a new pandemic relief package. That revived hopes that a new round of stimulus could be in the offing more than two months after emergency unemployment benefits expired for millions of Americans.
“As long as we hear negotiations are continuing Mnuchin and Pelosi trying to narrow their conditions, the market will think they are making progress and something will happen soon,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
While the severity of Trump’s condition remained unclear, he took a brief ride in a presidential motorcade to wave to his supporters, as