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Stocks extend gains following Trump’s coronavirus executive orders

Stock markets added to a week of gains on Monday morning after a failure of COVID-19 relief negotiations spurred President Trump to sign several related executive orders over the weekend.

The Dow Jones Industrial Average was up 150 points, or 0.5 percent, and the S&P 500 was up 7 points, or 0.2 percent.

Trump signed orders to extend temporary unemployment benefits, delay payroll taxes and halt evictions. Questions, however, have swirled around the orders’ legality and ability to make up for lack of congressional action, especially regarding spending.

The orders followed a breakdown in negotiations between congressional Democrats and the White House last week, with the sides remaining trillions of dollars apart and harboring deep disagreements on a path forward.

Trump’s orders have sowed confusion on key issues at a time when more than 30 million Americans on unemployment rolls have lost access to expanded benefits, which expired in July. Millions are also facing evictions after a federal moratorium expired.

Tags Donald Trump Dow Jones Industrial Average S&P 500 stock markets Wall Street

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