Stocks open with gains after Trump touts progress toward fiscal aid

Stocks opened with gains Thursday amid rollercoaster negotiations between the Trump administration and House Democrats on a coronavirus aid package with less than four weeks until Election Day.

The Dow Jones Industrial Average opened with a gain of 120 points, rising 0.4 percent after the market opened Thursday. The S&P 500 index rose 0.5 percent, and the Nasdaq composite rose 0.7 percent after the opening bell.

Thursday’s opening rise comes after the stock market rallied Wednesday despite mixed messages from President Trump

Donald John TrumpFive takeaways from the vice presidential debate Harris accuses Trump of promoting voter suppression Pence targets Biden over ISIS hostages, brings family of executed aid worker to debate MORE and resistance among top Republicans to another sweeping round of fiscal aid. Trump on Tuesday afternoon announced an end to formal negotiations with Speaker Nancy PelosiNancy PelosiFly lands on Pence’s head during VP debate On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain Overnight Health Care: Trump works from Oval Office after COVID-19 diagnosis | GOP frustrated by Trump’s messages on aid | Eli Lilly asks for emergency authorization of antibody treatment MORE (D-Calif.) over further fiscal stimulus, then said on Twitter later that night that he was willing to consider smaller, targeted measures.

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Trump told Fox Business Network’s Maria Bartiromo

Maria Sara BartiromoTom Cotton: ‘No doubt’ coronavirus won’t stop confirmation of SCOTUS nominee Biden’s team says he views election against Trump as ‘Park Avenue vs. Scranton’ Ex-NFL player running for House as Republican blasts Democrats as ‘narcissists and sociopaths’ MORE in an interview before the market opened Thursday that his administration and Democrats are now negotiating “a bigger deal” than targeted relief for airlines and direct stimulus checks to households, giving himself credit for reviving talks he himself cancelled.

“I shut down talks two days ago because they weren’t working out. Now they’re starting to work out,” Trump said in an interview with Fox Business Network.

“We’re talking about airlines, and we’re talking about a bigger deal than airlines,” he said.

While Pelosi and Treasury Secretary Steven Mnuchin

Steven Terner MnuchinOn The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain Trump works from Oval Office six days after COVID-19 diagnosis Trump gambles with new stimulus strategy MORE are currently negotiating the terms of a package to prevent tens of thousands of airline workers from losing their jobs, there is no indication that they are discussing a broader deal.

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