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White House press secretary Jen Psaki told reporters on Monday that US President Joe Biden is open to making the coronavirus package stronger, as reported by Reuters.

Additional takeaways

“Biden’s meeting with Republican senators is not a forum for Biden to make or accept an offer.”

“Biden’s view is that the size of the coronavirus package needs to be commensurate to the crises we’re facing.”

“Biden clearly thinks coronavirus relief package needs to be closer to his proposed $1.9 trillion than the offer made by Republican senators.”

Market reaction

Risk flows continue to dominate the financial markets following these comments. As of writing, the S&P 500 Index was up 1.52% on a daily basis at 3,770.