Futures point to positive open for U.S. stocks as U.S. aid deal nears

0

TORONTO — The futures market points to a positive open for U.S. stock markets as top congressional and White House officials say they expect to reach a deal on a US$2-trillion rescue package.

Treasury Secretary Steven Mnuchin and Senate Democratic leader Chuck Schumer have both said an agreement in near.

The move would come after North American stock markets fell on Monday as the U.S. politicians haggled over the deal.

The drop came despite a statement by the U.S. Federal Reserve that it would buy as many Treasuries and mortgage-backed securities as it took to stabilize bond markets.

That’s beyond the US$700 billion in purchases announced last week.

The May crude contract was up US$1.60 at US$24.96 per barrel.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)