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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly