President Trump’s midday tweet caused a sharp move lower in the major indices. The President indicated he is not open to additional stimulus talks before the election and he remains ready to sign legislation after the election if he wins. The markets did not like this and fell intraday. The weakest sectors were Airlines, Aerospace and travel related industries. These sectors have the most to gain from a stimulus bill, as airlines are requesting another $25 billion in aid to avoid layoffs. One possibility is Congress will pass aid line item by line item. This means the most at risk sectors such as airlines might be able to avoid laying off tens of thousands of employees.
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