Investing.com investing.com 08 Jan, 2021 23:45 am

Dow Sets New Record Again on Hopes for Biden Bounce By Investing.com

Dow Sets New Record Again on Hopes for Biden Bounce By Investing.com
Dow Sets New Record Again on Hopes for Biden Bounce

Biden comments arrived on the heels of confusion over West Virginia Democratic Senator Joe Machin's remarks, which had earlier left market participants worried that plans to boost stimulus checks under a Democratic-controlled Congress would meet resistance.Manchin was quoted as saying "absolutely not" when quizzed about backing an idea to boost stimulus checks to $2,000, but the West Virginia senator said this was in response to whether checks should be the first priority.In another boost to stimulus optimism, Federal Reserve Deputy Chairman Richard Clarida signaled that the central bank was likely to remain in a holding pattern on bond purchases this year.Manchin was reported to have shot down the idea of boosting checks to $2,000, but later claimed his comments in The Washington Post were mischaracterized.

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