Rally Pause: Wall Street On Edge As Stimulus Talks Drag On, Nike Earnings Awaited

Rally Pause: Wall Street On Edge As Stimulus Talks Drag On, Nike Earnings Awaited

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Key Takeaways:



Final day of final full week of year begins with stimulus talks in focus

Nike



NKE

earnings expected after the close with digital sales front and center

Investors brace for Monday's addition of Tesla



TSLA

to S&P 500



It's the final day of the final full week of the year, and the race is on for Congress to reach a stimulus ahead of Christmas.

Even before that, they have to find a way to keep the lights on in Washington by the end of today. Unless negotiators make a lot of progress very fast or move forward with another “continuing resolution,” there's a chance the government could shut down tonight. That seems pretty unlikely, and it's also not necessarily a dagger to Wall Street. The last time was two years ago. That shutdown coincided with a nice January 2019 rebound in stocks after a harrowing Q4 of 2018.

Stocks appear to be pausing in their upward surge this morning, but major indices are still on