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Wall Street jumps, S&P 500 crawls towards record high on stimulus hopes

US Treasury Secretary Steven Mnuchin said the White House and top Democrats in Congress may not be able to reach a deal on coronavirus aid

Reuters 

Wall Street's main indexes jumped on Wednesday, with the S&P 500 crawling towards a record high in a broad rally led by tech stocks, although some investors were cautious following a stalemate over the new coronavirus relief bill. US Treasury Secretary Steven Mnuchin said the White House and top Democrats in Congress may not be able to reach a deal on coronavirus aid, marking a fifth day without talks, as the stalemate blocked relief to tens of millions of Americans. The S&P 500 is about 0.9 per cent below its intraday record high of 3,393.52. The benchmark index ...

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First Published: Wed, August 12 2020. 20:12 IST
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