Stock Market Today: New Stimulus Plan Fails to Stimulate Stocks
A week of drowsy trading got no lift from the latest prospect of more government spending.
President-Elect Joe Biden on Thursday evening unveiled a $1.9 trillion “American Rescue Plan” that includes a number of provisions, including $1,400 stimulus checks, supplemental unemployment benefits and a $15-per-hour federal minimum wage.
And yet, stocks went red on Friday.
Perhaps Wall Street had already baked in all of its expectations for the much-anticipated plan. Or perhaps the market remained distracted…