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While speaking at a conference organized by CNBC, US Treasury Secretary Steven Mnuchin said on Wednesday that he is hopeful that a coronavirus aid deal can be reached between Democrats and the White House, as reported by Reuters.

Additional takeaways

“Will continue talks on coronavirus stimulus with House Speaker Pelosi, I think they can reach a reasonable compromise.”

“Stock market strength is an indicator of Trump’s economic plan.”

“If we can’t get a stimulus deal done before the election, will come back and try to negotiate a deal after the election.”

“We should know if the administration and Democrats have an overall understanding on coronavirus aid by Thursday.”

Market reaction

The S&P 500 Index opened modestly higher on Wednesday and was last seen gaining 0.4% on the day at 3,348.