Dow opened 100 basis points lower Tuesday after three straight sessions of gains. stocks rallied on Monday after recession fears eased on stimulus hopes. Moreover, The Washington Post and New York Times
both reported the Trump administration was discussing a cut to payroll taxes to stimulate the economy. However, later White House official denied it, saying cutting payroll taxes “is not something under consideration at this time.” Trade concerns a bit eased after US Commerce Secretary Ross announced Huawei can do business with American firms for another 90 days. Focus is on Fed symposium commencing Friday and Chair Powell's speech. The index is holding above 26 000 thresholds aiming for new highs around 26 600 wether Powell appears less dovish than expected.