McConnell calls for repurposing Fed lending programs
The S&P 500 is down 0.3%, and the Russell 2000 trades flat. Senate Majority Leader Mitch McConnell recently said that the Fed lending programs should be repurposed to hospitals, vaccine distribution, and small businesses, according to CNBC. The statement comes after Treasury Mnuchin declined to extend five lending programs beyond the Dec. 31 expiration date. Looking ahead to the holiday-shortened trading week, a bulk of the earnings reports will be released on Tuesday. Many of them will be from retailers, including Best Buy (BBY 119.63, +0.78, +0.7%) and Dollar Tree (DLTR 95.75, +1.02, +1.1%).