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Hope of Imminent Stimulus Package Propels Futures

T.CNR

U.S. stock futures rose early Friday as Wall Street continued to search for clarity surrounding a new potential stimulus bill.

Futures for the Dow Jones Industrials jumped 123 points, or 0.4%, to 28.433.

Futures for the S&P 500 advanced 15 points, or 0.4%, at 3,452.

Futures for the NASDAQ Composite gained 38 points, or 0.3%, to 11,577.

House Speaker Nancy Pelosi's deputy chief of staff tweeted that she and Treasury Secretary Steven Mnuchin spoke for 40 minutes earlier in the day. He noted that the conversation "focused on determining whether there is any prospect of an imminent agreement on a comprehensive bill. The Secretary made clear the President's interest in reaching such an agreement."

That tweet came after Pelosi told reporters she would not back aid to U.S. airlines without a broader stimulus package, something Trump hinted earlier in the week he'd support. Meanwhile, Trump told Fox Business on Thursday morning that the administration and Democrats were "starting to have some very productive talks."

Investors also digested news on the coronavirus treatment front. GenMark Diagnostics said after the close Thursday that the Food and Drug Administration gave the company emergency clearance to run a test that screens for the flu, coronavirus and other viruses.

Overseas, in Japan, the Nikkei 225 faded 0.1% Friday, while in Hong Kong, the Hang Seng index lost 0.3%.

Oil prices slid 42 cents to $40.77 U.S. a barrel.

Gold prices rocketed $26.90 at $1,922.



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