By STAN CHOE and ALEX VEIGA AP Business Writers
Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.
The S&P 500 was 2% higher, following up on strengthening in stock markets around the world. Big Tech stocks, including Apple and Microsoft, powered much of the rally. Their businesses have proven to be practically impervious to the pandemic, unlike companies that would benefit from a strengthening economy.
The gains come as Wall Street appears to be shrugging off the latest sign that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president’s fellow Republicans called it too expensive.
Investors may be betting that Congress will deliver a more generous aid bill after the election, should Democrats regain the majority in Congress, as some polls suggest.
“The market is expressing some comfort with Democrats taking the White…