US political scrapping weighing on market sentiment

US stocks rose last week and the Nasdaq Composite hit a new record high as job losses slowed and a second round of stimulus hung in the balance.

This week, stocks may shed some of those gains as a political scrap about urgently needed economic support continues and tensions between the US and China simmer.

Treasury Secretary Steven Mnuchin said the administration and Democratic legislators have failed to find a middle ground, and US President Donald Trump said he will set the fiscal policy by executive order, an unorthodox approach opposed by the Democrats.