U.S. Stocks Climb, Bonds Fall on Stimulus Bets: Markets Wrap
Bloomberg
12/15/2020
Anchalee Worrachate and Vildana Hajric
(Bloomberg) -- U.S. stocks halted a four-day losing streak as Congress moved toward a federal spending package that would boost the economy. Treasuries retreated.
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The S&P 500 rebounded from its longest slide since September. Senate Majority Leader Mitch McConnell said he will keep lawmakers in Washington until a deal gets done. The 10-year Treasury yield moved above 0.90% as the Federal Reserve began its two-day meeting. The dollar weakened for a second day. Oil advanced with gold.
Wall Street is growing increasingly confident that Democratic and Republican lawmakers will clinch a bill based on a $748 billion bipartisan proposal that would inject cash directly into the economy as prior benefits begin to expire at the end of the year. The vaccine rollout continues in the U.S. without any major disruptions so far.