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Stocks close flat amid lack of progress for stimulus deal

Stocks close flat amid lack of progress for stimulus deal
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Stock markets on Friday closed flat, nearly unchanged from Thursday's closing levels, amid little signs of progress from negotiators on another coronavirus stimulus deal.

The Dow Jones Industrial Average closed up 34 points, or 0.1 percent, while the S&P 500 closed down 0.6 points, a small fraction of a percentage point. The NASDAQ composite also dropped 23 points, or 0.2 percent.

On Thursday, the Senate adjourned for the August recess without agreement on a deal, which would restore additional unemployment benefits, renew a small business loan program and potentially provide a new round of stimulus checks.

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President TrumpDonald John TrumpTrump admin to announce coronavirus vaccine will be covered under Medicare, Medicaid: report Election officials say they're getting suspicious emails that may be part of malicious attack on voting: report McConnell tees up Trump judicial pick following Supreme Court vote MORE signaled that he was open to compromise on Postal Service funding in exchange for concessions from congressional Democrats.

But with both chambers adjourned, the prospects of a quick deal have receded, leaving millions of Americans who have been affected by the pandemic without much of a safety net.

That could have a ripple effect on the economy as households pull back spending.