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Stocks rebound after Trump's mixed messages on COVID relief

Stocks rebound after Trump's mixed messages on COVID relief
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Stock markets opened up on Wednesday after President TrumpDonald John TrumpBiden says GOP senators have called to congratulate him Biden: Trump attending inauguration is 'of consequence' to the country Biden says family will avoid business conflicts MORE signaled an openness to passing specific COVID-19 relief measures, one day after his initial call to cut off talks sent markets tumbling.

The Dow Jones Industrial Average was up 300 points, or 1.1 percent, and the S&P 500 was up 33 points, or 1 percent.

Trump's decision to call off ongoing negotiations with Democrats over a fifth emergency relief package upended markets on Tuesday.

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In a tweet, Trump said that a deal would have to wait until after the election, forestalling at least $1.5 trillion of fiscal stimulus, small business aid, unemployment benefits and relief to airlines.

Republicans have objected to the scale of the $2.2 trillion Democratic proposal.

Hours later, Trump appeared to walk back the position in part, suggesting he agreed with Federal Reserve Chairman Jerome Powell's assessment that a larger relief package was preferable to a smaller one and calling on Congress to approve stimulus checks and airline aid.