Investing.com investing.com 29 Dec, 2020 19:45 am

Dow Retreats From Record High as McConnell Blocks Stimulus Check Boost By Investing.com

Dow Retreats From Record High as McConnell Blocks Stimulus Check Boost By Investing.com
Dow Retreats From Record High as McConnell Blocks Stimulus Check Boost

Ahead of the objection, McConnel said the Senate would evaluate the prospect of boosting stimulus checks alongside other measures raised by President Donald Trump including the repeal of a law that offers protection for tech companies and concerns about election fraud.Last week, Trump urged lawmakers to increase stimulus checks after calling the initial $600 per week payments a "disgrace.com – The Dow cut its gains after hitting a fresh record high Tuesday, with losses in energy offsetting gains in health care after Senate Majority Leader Mitch McConnel blocked the Democrats' attempt to pass a bill aimed at boosting direct payments to struggling Americans.McConnell blocked Senate Minority Leader Chuck Schumer's attempt to approve the bill to increase direct payments to $2,000 from $600.

All three major average hit intraday record highs before paring gains." The move away from record highs in the major averages was paced by a decline in energy stocks as oil prices retreated from the highs of the day amid ongoing concerns over further restrictions as the new Covid-19 variant continues to spread globally.

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