Stocks Erase Pelosi "Optimistic" Pump As Stimulus Relief Differences Remain

Algos were inspired to run overnight high stops on the back of Pelosi using the word "optimistic" but then once she started to explain that nothing has actually changed, the market's ramp was reversed once again.

Speaking on BloombergTV,:

  • *PELOSI SAYS SHE IS OPTIMISTIC FOR STIMULUS, ECONOMY NEEDS IT

And stocks ramped. But then reality hit and humans stepped in...

  • *PELOSI SAYS DIFFERENCES STILL REMAIN ON STATE, LOCAL AID
  • *PELOSI SAYS DIFFERENCES STILL REMAIN ON LIABILITY PROVISIONS
  • *PELOSI SAYS DEMOCRATS STILL FIGHTING FOR TAX CREDITS

So all the things that she has been demanding for the last few weeks but have not budged. The Speaker then confirmed today's deadline...

  • *PELOSI SAYS TODAY IS DEADLINE TO HAVE DEAL TERMS ON THE TABLE

And offered once more bone to the algos...

  • *PELOSI SAYS WE ARE ON A `PATH' ON AID, HAVE TO BE OPTMISTIC

The jump reversed once again...

It appears some remain "hopeful"...As President Trump said this morning, "we will see if Pelosi will change her mind."