US stocks slip from records as wait continues for Congress

By STAN CHOE AP Business Writer

NEW YORK (AP) — U.S. stock indexes are slipping from their record levels Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.

The S&P 500 was 0.4% lower in midday trading, a day after it and other major indexes returned to record heights.

Hope that Congress may be nearing a deal to offer more support for the economy has helped put the S&P 500 on track for a 1.2% gain this week.

So has enthusiasm about vaccines for COVID-19, which investors hope will get the economy back on the road to normalcy next year.