Dow Rises as Trump Calls for Tax Cut, Covid Spread Slows
Investing.com
Published Aug 11, 2020 09:28AM ET
Updated Aug 11, 2020 11:51AM ET
By Christiana Sciaudone
Investing.com -- U.S. blue chip stocks rose Tuesday after President Donald Trump said he wants to cut capital gains taxes and as the coronavirus spread appears to be slowing.
By 11:49 AM ET (15:49 GMT), the Dow Jones Industrial Average was up 257 points or 0.9%. The S&P 500 was up 0.4%, and the Nasdaq Composite was down 0.1%.
The S&P 500 is close to hitting a record.
White House officials and top Democratic lawmakers indicated they were ready to resume talks on a coronavirus aid package after Trump signed executive orders that would extend aid that has lapsed, MarketWatch said.
Trump is behind presumptive Democratic nominee Joe Biden in opinion polls, with a Real Clear Politics survey showing Biden with an almost 7% lead.
President Vladimir Putin said Russia has approved a Covid-19 vaccine, Bloomberg reported. Production may begin next month, with trials to be completed by January.
Watch Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) today after a California court ordered the companies to classify their drivers as employees, with all the benefits -- which could make business much, much more expensive for the ride-hailing companies.
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