Holiday-Shortened Week Ends With Stocks Little Changed, Despite D.C. Drama
Published Thursday, December 24, 2020 at: 3:58 PM EST
An unexpected pocket veto by President Trump could cause a government shutdown and delay adoption of the $900 billion economic stimulus and aid to individuals and businesses that was approved by Congress earlier this week, the bill is almost certain to become effective within weeks, which is why stocks closed the holiday-shortened week little-changed and a fraction away from its all-time closing high.
The pocket veto is a shrewd maneuver. An outright veto could be overridden by Congress, but a pocket veto cannot be overridden for 10 days. By then, Congress will be back home, further delaying the $320 billion aid for small businesses.
- Amid Strong Crosscurrents, Stocks Sank 2.5% This Past Week
- A New Rover Landed On Mars And Stocks Closed Lower For The Week
- Ironically, Amazon Profits By Perpetuating Stock Bubble Myth
- Stocks Closed At A New Record High: Can The Party Last?
- Don’t Fall For It
- Housing Boomed Again In December
- The Bad And Good Financial News This Week
- Stocks Set New High Closing Price Amid Turbulence
- Stocks Gained +16% in 2020; Wall Street Expects +7.6% In 2021