The Straits Times
Trump signs into law stopgap funding bill to avoid government shutdown
US Senate Majority Leader Mitch McConnell (centre) walks to his office from the Senate Floor at the US Capitol.PHOTO: AFP
UpdatedDec 19, 2020, 11:59 am
PublishedDec 19, 2020, 6:28 am SGT
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By Patricia Zengerle and Richard Cowan
WASHINGTON, Dec 18 (Reuters) - The U.S. House of Representatives on Friday passed and sent to the Senate a two-day stopgap extension of existing federal funds to avoid a midnight government shutdown, as negotiators work on a $900 billion coronavirus aid bill and a $1.4 trillion government-wide spending bill through September 2021.
The Senate is expected to try to vote later on Friday on the stopgap measure, which provides government agency funding through midnight on Sunday. It will need the cooperation of all 100 senators to bypass procedural steps and hold a quick vote.
If it passes in the Senate, the measure would go to President Donald Trump for signing into law.
Dow ends 124 points lower as Congress races to avert government shutdown, pass economic relief package MarketWatch 12/18/2020
MARKET SNAPSHOT
Benchmark U.S. stock indexes finished slightly lower Friday, after closing at record highs Thursday, as Washington lawmakers raced to extend a midnight deadline to avert a government shutdown and to pass another pandemic relief package.
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Friday also marked what is known as “quadruple witching day” the date when stock-index futures, stock-index options, stock options, and single-stock futures expire simultaneously, a potential source of volatility.
Tesla Inc. is being included in the S&P 500 at the conclusion of trading Friday and a rebalancing of portfolios likely also added some choppiness to markets, analysts said.
English December 18, 2020 05:05 PM
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