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KiplingerDec 01, 2020
Stock Market Today: Wall Street Hangs on Stimulus Hopes Again
Stocks kicked off the month of December by resuming their November form, rushing out of the gate to solid gains as COVID stimulus, left for dead in the weeks before and after the election, suddenly came back into play Tuesday.

A bipartisan group of lawmakers laid out a $908 billion plan with funds for Paycheck Protection Program (PPP) loans, supplemental unemployment benefit funding, and state and local government aid, though no direct stimulus checks like this spring's CARES Act.

SEE MORE James Glassman's 10 Stock Market Picks for 2021 While Senate Majority Leader Mitch McConnell shot down the proposed legislation, he didn't dismiss stimulus out of hand. Indeed, both he and his counterpart, House Speaker Nancy Pelosi, reportedly were sending new proposals to their colleagues.

The Dow Jones Industrial Average still managed a 0.6% gain to 29,823, while the Nasdaq Composite ( 1.3% to 12,355) and S&P 500 ( 1.1% to 3,662) advanced to new all-time peaks.

Other action in the stock market today:

The small-cap Russell 2000 closed 0.9% higher to 1,837.The "FAANGs" - Facebook (FB, 3.5%), Apple (AAPL, 3.1%), Amazon.com (AMZN, 1.6%), Netflix (NFLX, 2.8%) and Google parent

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