Stocks rise 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 closed with a gain of 122 points, rising 0.4 percent after the market opened Thursday. The S&P 500 index rose 0.8 percent, and the Nasdaq composite rose 0.5 percent.

Thursday’s gains came after the stock market rallied Wednesday despite mixed messages from President Trump

Donald John TrumpBiden campaign raises over M on day of VP debate Trump chastises Whitmer for calling him ‘complicit’ in extremism associated with kidnapping scheme Trump says he hopes to hold rally Saturday despite recent COVID-19 diagnosis 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 PelosiOn The Money: Trump says talks on COVID-19 aid are now ‘working out’ | Pelosi shoots down piecemeal approach | Democrats raise questions about Trump tax audits Trump retweets reporter saying 25th Amendment is not equivalent to a ‘coup’ Trump responds to Pelosi bringing up 25th Amendment: ‘Crazy Nancy is the one who should be under observation’ 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 BartiromoThe Memo: Trump between rock and hard place on debates On The Money: Trump says talks on COVID-19 aid are now ‘working out’ | Pelosi shoots down piecemeal approach | Democrats raise questions about Trump tax audits Overnight Defense: Pentagon retracing steps of top officials after positive coronavirus case | Trump suggests Gold Star families could have infected him | VP debate brings up military topics 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 says talks on COVID-19 aid are now ‘working out’ | Pelosi shoots down piecemeal approach | Democrats raise questions about Trump tax audits House Democrats to unveil bill to create commission on ‘presidential capacity’ Trump’s new Iran sanctions raise alarm over humanitarian access 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.

Updated 4:22 p.m.

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