Stock futures resume downward trend after Friday's advance
What’s happening Last week was a rough one for U.S. stocks, as the S&P 500 dropped 2.2%, though the major indexes each advanced on Friday.
What’s driving markets There were many developments in Washington, D.C., including the negotiations on infrastructure spending and social spending. According to The Wall Street Journal, Democrats were debating whether to reduce proposed programs or cut their duration to shave the $3.5 trillion size of the social spending package.
U.S. Trade Representative Katherine Tai is due to discuss the U.S.-China trade relationship, where the Biden administration so far has kept tariffs imposed by the Trump administration on China in place. The White House said it would not rule out further tariffs as it chided China for not meeting commitments under the Phase One pact.
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