Here are five things you must know for Thursday, Oct. 1:

1. — Stock Futures Rise on Signs of Progress Toward Aid Package

Stock futures traded higher Thursday amid signs of progress toward a fifth coronavirus aid package.

Contracts linked to the Dow Jones Industrial Average rose 214 points, S&P 500 futures were up 26 points and Nasdaq futures gained 105 points.

Treasury Secretary Steven Mnuchin said he and House Speaker Nancy Pelosi “made a lot of progress in a lot of areas” in talks they held Wednesday. Pelosi said the two “found areas where we are seeking further clarification,” but added that talks with the Treasury secretary would continue. 

The House is expected to vote on its slimmed down $2.2 billion aid proposal later Thursday, though the legislation has little chance of passing in the Senate.

Stocks rose Wednesday as renewed hopes for a stimulus package overshadowed worries about a contested election following an acrimonious debate between President Donald Trump and Democratic candidate Joe Biden.

The Dow finished up 329 points, or 1.2%, to 27,781, the S&P 500 gained 0.83% and the Nasdaq rose 0.74%. 

Stocks in September posted their first monthly losses since March but did end the third quarter higher. The Dow rose 7.6%, the S&P 500 gained 8.5%, and the Nasdaq surged 11% over the past three months.

Source Article