The market has had a strong start to August so far.
The Dow Jones Industrial Average was up 0.4%, over 100 points, at Monday’s open, while the S&P 500 rose 0.2% and the tech-heavy Nasdaq Composite gained 0.1%.
After coronavirus stimulus talks between Democrats and the White House ended in disappointment last week, President Trump on Saturday signed several executive orders to extend economic relief programs. The orders would extend federal unemployment benefits—at a reduced rate of $400-per-week, defer student loan payments through 2020, extend a federal moratorium on evictions and provide a payroll tax holiday.
Trump’s executive action met with criticism from both parties and is likely to face legal challenges, since continuing the programs would require federal funding from Congress.Chinese-owned social media app TikTok, although Microsoft is still seen as the most likely candidate to close a deal.
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