Shares of retailers and other consumer companies rallied, led by airlines, after reports that Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi were discussing a stimulus package that would backstop carriers reeling from coronavirus.
Mr. Trump said he would immediately sign "standalone" stimulus bills under consideration, which include $25 billion in airline payroll support and another round of $1200 checks for individual Americans.
American Airlines Group, United Airlines Holdings, Delta Air Lines, Spirit Airlines and Southwest Airlines all rose sharply.
"They need to do something for the airlines -- there's no question," said Oliver Pursche, an independent market strategist.
"This close to the election, I think it will be challenging for both sides to come together."
Republicans could shift their position if Democratic candidate Joe Biden becomes the presumptive favorite to win the election.
Six current and former chicken-industry executives from a range of companies including publicly traded Pilgrim's Pride have been indicted on price-fixing charges after an antitrust investigation, The Wall Street Journal reported.
"Fast-casual" restaurant chain Ruby Tuesday filed for chapter 11 bankruptcy in a bid to reduce its liabilities as it adjusts to the impact of the coronavirus pandemic on demand.
Britain's largest supermarket chain by market share, Tesco posted profit growth for the first half of fiscal 2021 on rising revenue, helped by changes in shopping trends and named former Tate & Lyle executive Imran Nawaz as its new chief financial officer.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-07-20 1715ET
