Finance

Stocks open flat after Monday rally

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Stock markets on Monday opened relatively flat following bursts on Friday and Monday that ended several weeks of steady decline.

The Dow Jones Industrial Average opened down 43 points, or 0.2 percent, and the S&P 500 opened down 3 points, or 0.1 percent.

After breaking new records in the first days of September, markets slumped for four weeks. Monday’s rally, which saw major indexes increase by more than 1 percent, seemed poised to put an end to the losing streak.

But intense levels of uncertainty remain, with questions over whether Congress will approve another COVID-19 relief bill, whether President Trump will seek to contest the election on Nov. 3 and whether markets are overly inflated because of low interest rates during a rough economy.

House Democrats on Monday unveiled a scaled back, $2.2 trillion version of their COVID-19 relief bill, known as the HEROES Act. While that is a significant reduction from the original $3 trillion bill the House approved in May, it remains nearly double what GOP negotiators say they are willing to spend.

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