Futures point to first back-to-back stock gains since virus crisis escalated
U.S. stock indexes were indicated higher Friday, with stocks attempting to register their first back-to-back gains in months as investors weighed the acceleration of the global death toll due to COVID-19 against efforts by governments and central banks to contain the economic impact of the pandemic.
For the week, the Dow is on track for a 13.4% weekly decline, the S&P 500 was set to fall 11.13% on the week, while the Nasdaq was looking at a 9.2% weekly drop, as of Thursday’s close. Sen. Mitch McConnell, the Republican lawmaker representing Kentucky, on Thursday introduced a stimulus package that could top $1 trillion and would include direct payments of $1,200 for individuals and with married couples eligible to for $2,400, according to the Wall Street Journal.
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