on expectations that a heftier federal stimulus check was
unlikely to get the nod in the Republican-led U.S. Senate. Legislation on a $2,000 stimulus check is in the Senate’s
hands on Tuesday after President Donald Trump signed a $2.3
trillion pandemic aid and spending package on Sunday. Risk appetite ebbed during the latest hour, with yields
turning lower for some maturities and shares on Wall Street
retreating as investors digested comments from congressional
leaders on the hotly debated stimulus. U.S. Senate Majority Leader Mitch McConnell said he objected
to Senate Democratic leader Chuck Schumer’s call for the chamber
McConnell, GOP slammed by Trump backers, Democrats for opposing $2,000 COVID checks
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Wall St slips from record levels, additional stimulus uncertain
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Small caps underperform broader market U.S. Senate leader McConnell feeds doubt on stimulus (New throughout, updates prices, market activity and comments to market close)
NEW YORK, Dec 29 (Reuters) - U.S. stocks edged lower on Tuesday in choppy trading after hitting record highs, as investors worried about the path of the economic reopening and whether the Senate would authorize additional pandemic aid checks. Modest gains in early trading brought stocks to an intraday record, but the gains evaporated after U.S. Senate Majority Leader Mitch McConnell blocked immediate consideration of the measure calling for an increase in stimulus payments from $600 to $2,000 on Tuesday. Final passage of the proposal would require 60 votes and the backing of a dozen Republicans.
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NEW YORK (Reuters) -U.S. stocks edged lower on Tuesday in choppy trading after hitting record highs, as investors worried about the path of economic reopening and whether the Senate would authorize additional pandemic aid checks.
Modest gains in early trading brought stocks to an intraday record, but the advance evaporated after U.S. Senate Majority Leader Mitch McConnell blocked immediate consideration of the measure calling for an increase in stimulus payments from $600 to $2,000. Final passage of the proposal would require 60 votes and the backing of a dozen Republicans.
McConnell said the chamber would address the increased payments this week along with limits on big technology companies and election integrity.