(22 JULY 2020)DAILY MARKET BRIEF 1:Equities Lose Initial Gains
<p>US equities started the Tuesday session with a steep rally but gave up at the end of the day. Still, the benchmark S&P 500 index (+0.17) and Dow Jones (+0.60%) managed to secure gains. Elsewhere, tech-oriented Nasdaq tumbled 0.81%.</p>
<p>The major indices started to lose momentum when investors realized that the US lawmakers are not on the same page when it comes to unrolling further stimulus. Senate Majority Leader Mitch McConnell hinted there were few chances that the new money would be green-lighted within the next two weeks. The bill in discussion includes new funds for the paycheck protection program to fuel it for the next six months.</p>
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