Stock markets opened relatively flat on Tuesday morning as Democrats and Republicans appeared to have made little progress on an emergency economic and health bill to address the COVID-19 pandemic.
The Dow Jones Industrial Average opened down 25 points, or 0.1 percent, and the S&P 500 opened down 5 points or 0.2 percent.
Negotiations over the fifth COVID-19 bill have dragged on with little progress, and are not expected to conclude in the coming days.
The talks between the White House, represented by Treasury Secretary Steven Mnuchin and chief of staff Mark Meadows, and congressional Democrats, led by Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles Schumer (D-N.Y.) blew past key deadlines last week in deadlock.
Last week, crucial expanded unemployment benefits expired, which will leave millions in a lurch as rent and other expenses come due. A moratorium on some evictions expired as well.
Negotiators are aiming to find common ground and pass legislation by mid-August.
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
