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Stocks rise after Trump touts progress toward fiscal aid

Stocks rise after Trump touts progress toward fiscal aid
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Stocks opened with gains Thursday amid rollercoaster negotiations between the Trump administration and House Democrats on a coronavirus aid package with less than four weeks until Election Day.

The Dow Jones Industrial Average closed with a gain of 122 points, rising 0.4 percent after the market opened Thursday. The S&P 500 index rose 0.8 percent, and the Nasdaq composite rose 0.5 percent.

Thursday’s gains came after the stock market rallied Wednesday despite mixed messages from President TrumpDonald TrumpBiden prepares to confront Putin Biden aims to bolster troubled Turkey ties in first Erdoğan meeting Senate investigation of insurrection falls short MORE and resistance among top Republicans to another sweeping round of fiscal aid. Trump on Tuesday afternoon announced an end to formal negotiations with Speaker Nancy PelosiNancy PelosiPelosi: 'No intention' of abandoning Democrats' infrastructure goals Senate investigation of insurrection falls short Ocasio-Cortez: 'Old way of politics' influences Manchin's thinking MORE (D-Calif.) over further fiscal stimulus, then said on Twitter later that night that he was willing to consider smaller, targeted measures.

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Trump told Fox Business Network's Maria BartiromoMaria Sara BartiromoThe US can solve the border crisis by decoupling from China Democrats control the language of politics and culture — but for how long? Stefanik: Cheney is 'looking backwards' MORE in an interview before the market opened Thursday that his administration and Democrats are now negotiating “a bigger deal” than targeted relief for airlines and direct stimulus checks to households, giving himself credit for reviving talks he himself cancelled.

“I shut down talks two days ago because they weren’t working out. Now they’re starting to work out,” Trump said in an interview with Fox Business Network.

“We’re talking about airlines, and we’re talking about a bigger deal than airlines,” he said.

While Pelosi and Treasury Secretary Steven MnuchinSteven MnuchinDemocrats justified in filibustering GOP, says Schumer Yellen provides signature for paper currency Biden's name will not appear on stimulus checks, White House says MORE are currently negotiating the terms of a package to prevent tens of thousands of airline workers from losing their jobs, there is no indication that they are discussing a broader deal.

Updated 4:22 p.m.