The daily business briefing: October 15, 2020

U.S. stock futures fell early Thursday as prospects dimmed for a new coronavirus relief package before the Nov. 3 election. Futures for the Dow Jones Industrial Average, the S&P 500, and the tech-heavy Nasdaq were down by about 1 percent or more several hours before the opening bell, after Treasury Secretary Steven Mnuchin said it would be difficult to resolve the differences between Republicans and Democrats on a new stimulus, and House Speaker Nancy Pelosi (D-Calif.) said the administration’s proposal “falls significantly short” of what America needs. The uncertainty fueled market losses on Wednesday. Investors also continue to watch corporate earnings. Banking giants Goldman Sachs and Bank of America reported earnings that beat analysts’ expectations on Wednesday, while Wells Fargo fell short. [CNBC]

Leave a Reply