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KiplingerAug 04, 2020
Stock Market Today: Stocks, Stimulus Both Inch Forward
The broader indices' pace slowed after yesterday's energetic rally, as Tuesday offered up little for the market to hang its hat on.

House Speaker Nancy Pelosi told Fox News she doesn't believe a deal on more economic stimulus will be reached this week. That dulled the optimism sparked by earlier comments from Treasury Secretary Steven Mnuchin and Senate Minority Leader Chuck Schumer pointing toward modest progress.

SEE MORE 20 Best Stocks to Invest In During This Recession "Europe has agreed on a historic recovery fund, but U.S. stimulus is now at risk of fading. Wrangling over the size and makeup of a new U.S. fiscal package is intensifying as key benefits expire and states face huge budget shortfalls," BlackRock Investment Institute strategists write. "Congress still looks far from reaching a comprehensive deal but we could see a $1-1.5 trillion fiscal package that extends some federal stimulus measures through late-2020."

But the earnings calendar kept things interesting.

Video game maker Take-Two Interactive (TTWO, 5.9%) jumped after reporting that stay-at-home trends helped the company more than double its sales for its most recent quarter.

Energy giant BP (BP, 7.5%), meanwhile, cut its dividend in half - a move we recently warned investors about. But Wall Street celebrated the cash savings, as well as BP's new clean-energy strategy.

The Dow Jones Industrial Average posted a modest 0.6% gain to 26,828, the

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