McConnell warns White House against making stimulus deal before election

Senate Majority Leader Mitch McConnell has told Senate Republicans on Tuesday that he has warned the White House not to make a big stimulus deal before the election, according to two people familiar with his remarks.

The Washington Post has stated that McConnell suggested that the House Speaker Nancy Pelosi (D-Calif.) is not negotiating in good faith with Treasury Secretary Steven Mnuchin, and any deal they reach could disrupt the Senate’s plans to confirm Amy Coney Barrett to the Supreme Court next week.

Market implications

The S&P 500 came off the midday highs and is heading for a small gain on the day.

At the time of writing and a minute for the close, the index was up just 0.6%.