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S&P Hits Record, Dow Soars Over 30,000 After McConnell Says “We Can Do This… Compromise Within Reach”

After House and Senate Democrats significantly lowered their “ask” from over $2 trillion to just $907BN as per the bipartisan proposal they backed, this morning there was more optimism on a targeted fiscal deal when Republican Tom Reed, co-chairman of House Problem Solvers Caucus, said in a CNBC interview that McConnell had increased the amount of stimulus funding he’s comfortable with to $600b.

Then moments ago stimulus optimism got a fresh boost after the latest soundbites from the Senate GOP leader who spoke on the Senate floor saying “It’s been heartening to see a few hopeful signs in the past few days” if caveating that “the underlying reality … is still with us. There are many important policies that have strong bipartisan support. There are many others that do not. And the way to help the country is … to finally let the former group be signed into law while we keep arguing over the rest.”

This, however, was followed by even more optimism from McConnell who sounded “pretty optimistic”, saying Congress should pass a stimulus bill now that covers areas where there is agreement and continue to debate the parts where lawmakers disagree.

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