Stocks turned negative ahead of a busy week that will include a slew of corporate earnings results, economic data, Federal Open Market Committee meeting and debate over the Biden administration’s $1.9 trillion stimulus proposal.
Top news and what to watch in the markets on Monday, January 25, 2021.
U.S. stocks pulled back on Monday from early highs that included a Nasdaq record by afternoon trading as concerns over the timing and size of fiscal stimulus curbed optimism about the start of a week of earning reports from mega-cap companies. Investors turned their focus to the U.S. Senate, which is aiming to pass COVID-19 relief legislation before former President Donald Trump's impeachment trial begins in early February. Officials in President Joe Biden's administration are trying to head off Republican concerns that his $1.9 trillion pandemic relief proposal was too expensive.