Wall Street stocks gained Wednesday on good US economic data and revived stimulus hopes as investors shrugged off a contentious presidential debate between President Donald Trump and former Vice President Joe Biden.
After European equities retreated, US equities mounted a rally following upbeat comments by US Treasury Secretary Steven Mnuchin that reopened the door to a potential stimulus deal with congressional Democrats.
In an interview with CNBC on Wednesday morning, Mnuchin said he was “hopeful” over the talks’ prospects, and that “We’re going to give it one more serious try to get this done.”
“I think there is a reasonable compromise here. It’s something that the president very much wants to get done,” he said.
The gains ebbed somewhat later in the session as talks with House Speaker Nancy Pelosi did not yield a deal. But the two parties said they would keep talking.
“It’s hard to overstate the importance