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(Reuters) – Global stocks scaled five-week highs on Monday on hopes that more government stimulus was coming and the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend. Investor optimism that Washington will work through talks that have repeatedly stalled to deliver another round of fiscal stimulus drove major U.S. stock indices to highs last seen in early September. Hopes that the top Wall Street banks will announce a decent set of third-quarter earnings this week that show business activity was not as weak as feared also helped. Slugged by stronger investor demand for risk, the U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high. The U.S. bond market is closed on Monday for Columbus Day. The cheer over the economic outlook and government stimulus did not boost
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By Devik Jain
Oct 9 (Reuters) – Wall Street’s main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month’s presidential election.
After stalling talks on a comprehensive aid package earlier this week, U.S. President Donald Trump on Thursday called for a “skinny” relief bill that would include elements such as direct payments and a bailout to the struggling airline sector.
Shares of JetBlue Airways Corp JBLU.O, Delta Air Lines Inc DAL.N, American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O edged higher in premarket trading.
“The market is continuing to rise on hopes of some sort of a conclusion (on stimulus), not only to the airlines, but to the rest of the country,” said
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(Reuters) – U.S. stocks ended higher on Thursday as comments by U.S. President Donald Trump fueled hopes of fresh fiscal support, while data underscored the view that the labor market recovery was struggling to gain momentum.
Two days after calling off negotiations on a comprehensive bill, Trump in an interview with Fox News said talks with Congress have restarted over further COVID-19 relief and that there was a good chance a deal could be reached. But he gave no other details about a possible agreement.
While late afternoon trading was choppy, indexes added to gains after a White House spokeswoman said Trump wanted a “skinny” coronavirus relief bill.
House of Representatives Speaker Nancy Pelosi said legislation to help airlines was a matter of national security and could only move through Congress with guarantees of work continuing on the comprehensive deal.
The Dow Jones airlines index .DJUSAR jumped 1.6%, extending recent
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* Futures up: Dow 0.53%, S&P 0.50%, Nasdaq 0.62%
By Sagarika Jaisinghani
Oct 8 (Reuters) – U.S. stock index futures rose for a second straight day on Thursday as bets of a piecemeal fiscal stimulus deal lifted sentiment ahead of data on weekly jobless claims that is likely to show a labor market recovery continuing to sputter.
The Labor Department’s report is expected to show 820,000 Americans filed for unemployment benefits in the week ended Oct. 3, slightly down from 837,000 in the previous week, but still hovering at recession levels.
Signs of a slowing domestic economic rebound and political uncertainty in the run up to the Nov. 3 U.S. presidential election halted a five-month gaining streak for Wall Street’s main indexes in September.
Federal Reserve Chair Jerome Powell has since