5 issues it is best to know earlier than the inventory market opens on Tuesday

Here are the top news, trends, and analysis investors need to get their trading day started:

1st House passes a bill for 2,000 stimulus checks

House Speaker Nancy Pelosi (D-CA) and Senate Minority Chairwoman Chuck Schumer (D-NY) speak after a press conference on Capitol Hill on December 20, 2020 in Washington, DC.

Tasos Katopodis | Getty Images

Parliament voted Monday to increase the second round of federal direct payments to $ 2,000, the day after President Donald Trump signed the $ 2 trillion pandemic aid and the full year government spending bill .

The House passed the payments in a quick process with just enough assistance to hit the required two-thirds threshold. The chamber approved the measure with 275-134 votes. Despite Trump’s request for $ 2,000 in payments, the GOP-held Senate may not pass the larger amount, despite Senate minority chairman Chuck Schumer, who said he is pushing for a vote.

2. Boeing 737 Max returns to the US skies

American Airlines Boeing 787-9 Dreamliner takes off from Los Angeles International Airport in Los Angeles, California on November 11, 2020.

AaronP | Farmer Griffin | GC Images | Getty Images

American Airlines will operate the Boeing 737 Max’s first commercial U.S. flight on Tuesday after almost two years of landing after two fatal crashes.

American Airlines Flight 718 is expected to depart Miami International Airport for New York’s LaGuardia Airport at 10:30 am CET. The Fort Worth, Texas-based airline offers a round-trip flight between the two airports once a day and plans to increase service to other cities in the coming weeks.

United Airlines plans to resume Max flights on Feb.11 from the Denver and Houston hubs. Southwest Airlines has announced that it will begin flying its aircraft in the second quarter.

3. The stock exchange should extend the record rally

Snow covers the Charging Bull sculpture in the Manhattan Financial District, New York City, New York, USA, December 17, 2020.

Jeenah Moon | Reuters

US stock futures rose Tuesday morning after major averages all hit new record highs in the previous session.

Dow Jones Industrial Average futures traded 130 points higher. S&P 500 futures rose 0.4% and Nasdaq 100 futures rose 0.5%.

Monday’s rally brought the S&P 500’s gains to 15.6% for 2020, while the blue-chip Dow rose 6.5% this year. The Nasdaq Composite is up more than 43% in 2020 as investors flocked to big tech names like Apple, Amazon, and Facebook.

4. Qualtrics files for the IPO

Ryan Smith, Qualtrics Chairman, stands on stage during the 2015 Web Summit in Dublin, Ireland.

Clodagh Kilcoyne | Getty Images

Qualtrics announced an IPO two years after SAP took over the cloud software provider. The starting price range of $ 20 to $ 24 per share would value Qualtrics at $ 12 to $ 14.4 billion, compared to the $ 8 billion that SAP paid.

Qualtrics is traded on the Nasdaq under the ticker XM. Qualtrics sells software that enables companies to assess how customers are using their products to improve their offerings. Ryan Smith co-founded the company with his brother and father in 2002 and gave the family a 40% stake at the time of the acquisition.

5. Trump tightens the mandate to exclude US investments in Chinese companies

President Donald Trump listens during a White House video conference call with military personnel on November 26, 2020.

Erin Schaff | The New York Times | Bloomberg | Getty Images

The Trump administration reinforced an executive order preventing US investors from buying stocks of suspected Chinese military-controlled companies.

The Treasury Department released guidance on Monday to clarify the order, which was released in November. The contract would cover exchange-traded funds and index funds, as well as subsidiaries of Chinese companies owned or controlled by the Chinese military.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

Pierre Cardin, pioneering clothier, dies

Designer Pierre Cardin poses during the launch of the new Haute Couture collection by Pierre Cardin Paris at Maxim on November 26, 2013 in Paris.

Richard Bord | Getty Images

Pierre Cardin, who in his more than seven decades in fashion brought geometric shapes to haute couture and named everything from clothing to furniture and perfume to pens, died Tuesday. He was 98 years old.

“It is with great sadness that the members of the Academy of Fine Arts announce the death of their colleague Pierre Cardin,” tweeted the French Academy of Fine Arts.

Cardin died in a hospital in Neuilly, west of Paris, his family told Agence France-Presse.

“It’s a day of great mourning for our whole family. Pierre Cardin is no more,” the family said in a statement. “We are all proud of his tenacious ambition and the daring he has shown throughout his life.”

Cardin switched from the world of bespoke high fashion for private customers to ready-to-wear designs for the masses.

“You said Pret-a-Porter would kill your name and it saved me,” Cardin once said.

Cardin was born on July 2, 1922, the son of a wealthy wine merchant near Venice. When he was two years old, he and his family moved from fascist Italy to France.

Cardin was only 14 years old when he started as an apprentice tailor. At the age of 23 he moved to Paris, studied architecture and worked at the Paquin fashion house and later at Elsa Schiaparelli. In the French capital he met the film director Jean Cocteau and helped design masks and costumes for the 1946 film “La Belle et La Bete”.

He switched to Christian Dior in 1946 and worked as a pattern tailor on the female “New Look” fashion of the post-war period. Four years later he opened his own fashion house and designed costumes for the theater.

In 1953 he presented his first women’s collection and the following year he opened his first women’s boutique, Eve, and unveiled the Bubble dress. The garment, a loose fitting dress that gathers at the waist and hem and balloons on the thighs, has been recognized internationally. Soon his fashion was worn by such bold names as Eva Peron, Rita Hayworth, Elizabeth Taylor, Brigitte Bardot, Jeanne Moreau, Mia Farrow and Jacqueline Kennedy.

Pierre Cardin at the opening of the Musee Pierre Cardin on November 13, 2014 in Paris.

Pascal Le Segretain | Getty Images

In 1957 he traveled to Japan and was one of the first European designers to explore Asian influences. He later pioneered China to break out of its drab, militaristic Mao Zedong look.

Also in 1957, he opened another Parisian boutique, this time for men by the name of Adam, with colorful ties and printed shirts. He later made the iconic collarless suits for the Beatles and helped attract clients like Gregory Peck. Rex Harrison and Mick Jagger.

“Before me, no designer made clothes for men, only tailors,” Cardin said in an interview with Agence France-Presse in 2009. “Today, the image of designers is more focused on men than women, right or wrong. So I was right 40 or 50 years ago. “

In 1959, he shocked the fashion world by presenting a ready-to-wear show at a department store, Printemps in Paris. After the show, he was expelled from the Elite Chambre Syndicale, the French association of haute couture designers. (He was later reinstated.)

The French fashion designer Pierre Cardin opened his own fashion house in 1950.

Reg Lancaster | Getty Images

Over-the-top fashion from out of this world

With the advent of the US-Russia space race in the late 1950s and 1960s, he launched the “Cosmocorps” collection – exaggerated unisex fashions from around the world. His space age look included helmets, google, tunics and over-the-knee boots.

“My favorite piece of clothing is what I invent for a life that doesn’t yet exist, the world of tomorrow,” he said.

Or as he put it in an interview with AFP 2009: “Fashion and design are not the same. Fashion can be worn. Design can be uncomfortable and unpopular, but it’s creative. So design is the real value.”

He pioneered branding in the 1970s, giving his name to virtually everything, including automobiles – Cardin AMX Javelin from American Motors Corp. from 1971 – perfume, pens, cigarettes and even sardines. He has been called a “Branding Visionary” by the New York Times. A 2002 article found that around 800 products bearing his name were sold in more than 140 countries for $ 1 billion in annual sales.

In 1981, he bought one of Paris’ most iconic names, Maxim’s Restaurant, for more than $ 20 million.

“I’ve done everything! I even have my own water! I make perfumes, sardines. Why not? During the war, I would have rather smelled the scent of sardines than perfume. If someone had asked me to make toilet paper, I would do it. Why not? ”he said in a 2002 interview with The Times.

He loved using geometric and strange designs. He developed a fabric, cardine, to emboss abstract shapes on garments. One of his residences was the Palais Bulles (Bubble Palace), a bizarre collection of circular structures – a la “The Flintstones” meets “The Jetsons” – overlooking the Mediterranean Sea near Cannes.

In May 2003, Pierre Cardin celebrated his 80th birthday and 50 years of fashion design in his Palais Bulles.

Alain Benainous | Getty Images

He also owned and restored the castle of the Marquis de Sade in Provence, where he held concerts and opera performances. “Cardin has a perfect angle,” said Architectural Digest in a 2007 story of the restoration of the castle, which was originally built in the 15th century.

Although Cardin was gay, he had a five-year affair with Moreau, “the queen of French new wave cinema”. During the affair, according to The Hollywood Reporter, he had a relationship with longtime artistic director and life partner Andre Oliver. Oliver died in 1993.

Cardin’s fascination with space led him to NASA, where he tried on an Apollo 11 spacesuit in 1971, two years after the first moon landing. In 2019, 50 years after the first moon landing, the Brooklyn Museum hosted a Cardin retrospective. In the catalog he was asked about his vision of fashion half a century in the future:

“In 2069 we will all be walking on the moon or Mars with my ‘Cosmocorps’ ensembles. Women will wear plexiglass bell hats and tube clothing. Men will wear elliptical pants and kinetic tunics.”

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Home overwrites Trump’s $ 740 billion veto

An F / A-18F Super Hornet takes off from the aircraft carrier USS Theodore Roosevelt.

Mass Communication Specialist 3rd Class Alex Corona | US Navy

WASHINGTON – The House voted Monday to overturn President Donald Trump’s veto of an annual defense spending bill and place final steps against the Republican president in the hands of the GOP-led Senate.

The measure to override Trump’s veto on the Defense Act was passed between 322-87 Monday evening. The Senate will next vote on whether the veto should be overridden.

Senate Majority Leader Mitch McConnell said his house would vote on lifting the veto on Tuesday.

The bill, known as the National Defense Authorization Act of 2021, was passed on December 8 with the support of more than three-quarters of the chamber. A large majority of the GOP-controlled Senate also approved the bill, giving both chambers a higher percentage of yes votes than the two-thirds required to defeat a presidential veto.

The Comprehensive Defense Bill, which authorizes $ 740 billion in spending and outlines Pentagon policy, is usually passed with strong bipartisan support and veto-proof majorities as it funds America’s national security portfolio. It was legally signed every year for nearly six consecutive decades.

The passage of the law will at least secure pay increases for soldiers and keep important defense modernization programs going.

Trump offered a number of reasons to oppose this year’s 4,517-page NDAA, questioning the bill as to both what it contains and what is missing.

The president has called for the bill to protect social media companies from the protection of language under Section 230 of the Communications Decency Act, which protects them from being held liable for what users say on their platforms. Trump, who has used Twitter extensively throughout his presidency, has long accused media of bias.

In his veto message to Congress, Trump wrote that the NDAA “has made no significant changes to Section 230 of the Communications Decency Act.” He called on Congress to lift the measure.

The president previously said the move posed a serious threat to US national security as well as electoral integrity, but gave no further explanation.

Trump’s ally Sen. Lindsey Graham, RS.C., wrote on Twitter last week that he would not vote to override the president’s veto. Graham didn’t vote for the bill for the first time.

Graham, chairman of the Senate Judiciary Committee, passed a law on December 15 that would end Section 230 protection by January 1, 2023.

Rob Kardashian and Blac Chyna attain new custody settlement for Dream

Rob Kardashian and Blac Chyna have drawn up a new custody agreement for the daughter dream.

The paternity agreement, filed on Dec. 8, stipulates that the ex-couple will share custody of the 4-year-old dream on an alternating weekly schedule and spend the same time with their child on vacation and vacation, E! News have confirmed.

“Starting on December 2, 2020 and in alternating weeks after that, respondent [Kardashian] is supposed to take the underage child into custody from Wednesday at 10:00 a.m. to Saturday at 10:00 a.m., “it says in the records via Us Weekly.” Petitioner [Chyna] has custody of the underage child from Saturday at 10:00 a.m. to Tuesday at 10:00 a.m. from December 5, 2020 and alternately weeks thereafter. “

The paperwork stipulates that no person may be under the influence of alcohol or other substances while caring for Dream. This follows Rob, 33, who accused Chyna, 32, of negligent parenting and substance abuse in a previous filing. Chyna had denied the allegations at the time.

Nikola, Weibo, DoorDash & extra

Nikola Corporation has rung the Nasdaq Closing Bell remotely from around the world.

Source: The Nasdaq

Check out the companies making headlines on Monday lunchtime:

Nikola – Shares in the electric vehicle maker rose nearly 6% after a JPMorgan analyst said he saw “less dramatic” news flow for the company in 2021. “We expect Nikola to post a video of a working Tre in January “We expect a steady flow of updates for the truck in 2021 as the test milestones are reached,” the analyst said.

Myovant Sciences – Shares rose 25% after agreeing to collaborate with Pfizer to develop prostate cancer drug Relugolix. The drug is also being studied for possible uses for women’s health.

Weibo – The stock fell more than 10% despite a better-than-expected quarterly report from the Chinese social media company. Weibo posted adjusted earnings of 66 cents per share, 6 cents above Refinitiv’s estimates. Sales were also above the analysts’ forecasts. However, some analysts pointed to the slowdown in business growth with average daily active users.

Astrazeneca – US-listed shares in the drug maker rose more than 1% after several reports said the company’s Covid vaccine, developed in partnership with Oxford University, is expected to be approved in the UK this week. The AstraZeneca shot is expected to launch next week if approved in the next few days.

Apple – The tech giant’s shares rose more than 3% on the strength of big tech. Progress comes after Apple makes its fourth straight week of profits.

Novavax – Shares fell more than 2% after the biotech company announced that its coronavirus vaccine candidate entered a phase 3 study in the United States and Mexico. “This study is a critical step in building a global portfolio of safe and effective vaccines to protect the world’s population,” said CEO Stanley Erck in a statement.

DoorDash – The food company fell 3.8% after a column in the Wall Street Journal highlighted how a new bill in California could affect delivery service. The regulation would require companies to have agreements with restaurants, potentially affecting the growth strategy for some services.

CNBC’s Pippa Stevens, Jesse Pound and Yun Li contributed to this report.

On-line buying is inflicting stress within the Port of Los Angeles

The number of shipments delivered through the country’s busiest container port complex in Los Angeles has increased significantly from the first half, driven by a recovery in business and a change in consumer habits.

Gene Seroka, executive director of the Port of Los Angeles, said during an appearance on CNBC on Monday that cargo volume increased 50% in the second half of 2020 after arriving at the docks in the first six months of the year, and that loaded ships often anchor at sea waiting for a dock to open.

“It’s all the change in the American consumer,” Seroka said on Power Lunch. “We don’t buy services, we buy goods.”

The surge in shipments has put a strain on the seaport supply chain, which is managed by the Los Angeles Port Authority. It’s a stark contrast to spring, when volume plummeted as the coronavirus pandemic plunged the global economy into recession.

With retailers seeing a surge in online ordering and e-commerce in the world of stay-at-home, it has created long delays in unloading ships at ports across the country and a lack of desired storage space.

Seroka said the port expects demand to surge. The Port of Southern California has been the busiest container port in North America for the past two decades, welcoming 17% of all US cargo.

In November, the Port of Los Angeles saw 890,000 shipments, equivalent to 20 feet, passing through its facilities, up 22% from the same month last year, partly due to vacation orders. Imports from Asia are at a record level, announced the port authority. Meanwhile, exports at the port have declined in 23 of the last 25 months, partly due to trade policy with China.

“In addition to trade policy, it is the strength of the US dollar that makes our goods a bit more than would otherwise be the case for competing nations in the same product categories,” Seroka said. “And right now the most amazing statistic is that we are sending back twice as many empty boxes as we are American exports through our docks.”

Monthly cargo volumes averaged 930,000 units in 20 foot units since August, which Seroka called “unusual” at the end of the year. The activity is expected to last several months.

Seroka said the port has been focusing on digitization to streamline shipping schedules and logistics.

“The port is tense,” he said.

Diddy Formally Cancels Annual New Years Eve Occasion Due To COVID-19 – “I Will Not Change My Thoughts”

Diddy

Roommates, while the Christmas season was over for many, there were definitely elements of the traditional celebration that were canceled … and that now includes Diddy’s much-anticipated New Year’s party. In a post on social media, Diddy officially broke the news that he had decided to cancel this year’s event for following COVID-19 safety guidelines.

Whether you’re a celebrity or not, everyone knows that Diddy is known for hosting some of the most iconic parties – but sadly one of his most anticipated events has just been canceled.

With many preparing in some way to celebrate New Year’s Eve, Diddy has decided to take a safer step and cancel his annual New Year’s Eve event to make sure everyone is keeping their health and staying COVID-19 free.

In a post on Instagram he wrote the following:

“TO ALL MY FRIENDS: In an effort to keep everyone safe and healthy … We’re sorry, we’re not hosting a NYE party this year!” Hope everyone had a wonderful holiday and wish you all the best for the New Year. “

To make sure that the party definitely won’t take place, Diddy has given his post a title: “WARNING: THIS IS EVERYONE, ALL OF MY FRIENDS AND FAMILIES … I’m not changing my mind … See you all in 2021! I LOVE YOU!”

Welp, there you have it. It looks like most of us are going to have a quiet New Years Eve too.

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5 issues it is best to know earlier than the inventory market opens on December 28, 2020

Here are the top news, trends, and analysis investors need to get their trading day started:

1. Dow is set to rise nearly 200 points to begin the last week of 2020

Traders work on the trading floor of the New York Stock Exchange.

NYSE

US stock futures indicated a higher Monday morning open as traders entered the final trading days of a volatile year. Dow Jones Industrial Average futures were up 170 points, or 0.6%, which translates into an opening advance of around 200 points. The S&P 500 futures, along with the Nasdaq 100 futures, rose 0.7%. Progress on Monday came following President Donald Trump’s unexpected signing of the Coronavirus Stimulation Act. However, key averages could come under pressure this week as some traders may take profits after this year’s surprisingly strong returns.

2. Trump signs Covid-19 stimulus bill

President Donald Trump listens during a White House video conference call with military personnel on November 26, 2020.

Erin Schaff | The New York Times | Bloomberg | Getty Images

Five days after calling it a “shame,” Trump signed the Coronavirus Aid and Government Funding Act, which extends additional unemployment benefits through March and includes direct payments of $ 600 to most Americans. Trump had refused to sign the bill, also because the measure did not include direct payments of $ 2,000. Economists across the country, along with the Federal Reserve, had called for more fiscal incentives to help the economy recover from the coronavirus pandemic.

3. Fauci warns of an increase in infections after the season

Anthony Fauci, director of the National Institute for Allergies and Infectious Diseases, speaks during a press conference at the White House in Washington, DC, the United States, on Thursday, November 19, 2020.

Chris Kleponis | Bloomberg | Getty Images

Dr. Anthony Fauci said the US could see a “post-seasonal” surge in coronavirus after Americans rallied for Christmas and New Years. “Travel and the likely gathering of people to be together on vacation” adds pressure to the deepening crisis, “Fauci told CNN’s State of the Union.” The US is already in the middle of a Covid-In Last week, the US had an average of 189,578 new cases per day, according to a CNBC analysis of data compiled by Johns Hopkins University.

4. Alibaba shares fall after China increases pressure on Ant Group

An Ant Group logo is pictured at the company’s headquarters, a subsidiary of Alibaba, in Hangzhou, Zhejiang Province, China, on October 29, 2020.

Aly Song | Reuters

Alibaba’s US-listed shares fell more than 1% in the pre-market as Chinese regulators ordered Ant Group – a subsidiary of Alibaba – to comply with government regulations while the Chinese internet sector was scrutinized. Regulators ordered Ant to set up a financial holding company and maintain a certain amount of capital. The company should go back to its origins in payment services, improve transparency and ban unfair competition. “The rectification is an opportunity for Ant Group to strengthen the foundation to grow our business in full compliance and to continue to focus on innovation for the social welfare and serving small businesses,” the Ant Group said in a statement .

5. The UK is expected to approve the Oxford AstraZeneca virus vaccine this week

CSL staff will be working in the laboratory on November 08, 2020 in Melbourne, Australia, where they will begin manufacturing the AstraZeneca-Oxford University’s COVID-19 vaccine.

Darrian Traynor | Getty Images

The UK government is expected to approve a coronavirus vaccine developed by AstraZeneca and the University of Oxford this week. The Financial Times said approval could come as early as Tuesday, while the Sunday Telegraph reported that the vaccine could be approved on Monday. Earlier this month, the UK began rolling out a Covid-19 vaccine developed by Pfizer and German company BioNTech.

The US can miss the Covid burden “as a result of the holes in our community are too broad”.

The lack of Covid testing capacity in the US could mean that the new, highly transmissible strain of coronavirus, which first appeared in the UK, is already making its way through communities in the US

That’s what Dr. Nahid Bhadelia, the medical director of the Special Pathogens Unit at Boston Medical Center.

“To find this strain, we need to take a percentage of the diagnosed samples and do an in-depth genetic analysis (in the) In the US, our capacity was not spectacular, “said the infectious disease doctor “The News with Shepard Smith” on Monday. “If the burden is here, we may be missing it because the holes in our net are too wide.”

According to the Centers for Disease Control and Prevention, the new variant was not discovered in the United States

However, the agency said viruses were only sequenced from approximately 51,000 of the 17 million infections in the country. The UK recorded the most sequences with 125.00. The infections in Great Britain reached their second highest daily value on Christmas Eve. The country confirmed 39,036 new Covid-19 cases that day.

As of Monday, the US will have to provide evidence of a negative Covid-19 test from all travelers flying from the UK as concerns about the new variant of the virus grow.

Dr. Bhadelia, who is also the medical assistant for NBC News, said the measures did not go far enough.

“You can still have people who test negative, get on the plane and then come back positive. So I think testing needs to be linked to some kind of quarantine,” she said.

Japan has taken stricter measures and stopped all arrivals of foreign nationals. More than a dozen countries have reported cases of the rapidly spreading mutation, including Canada, France, South Africa, Australia, Japan, and South Korea.

Health experts in the UK and US found that while the new variant appears to be more transmissible, there is still no evidence that it is more lethal. Dr. Bhadelia warned that the results shouldn’t make people complacent when it comes to the new strain.

“The problem is that while we don’t think it increases mortality, the fact that it is more easily transmitted is also a bigger problem because the more people get infected, the more people end up in hospitals. and possibly die, “she added.

Home votes on $ 2,000 stimulus checks after Trump indicators an support invoice

House Speaker Nancy Pelosi, D-Calif., September 28, 2020.

Tom Williams | CQ Appeal, Inc. | Getty Images

Parliament voted Monday to increase the second round of federal direct payments to $ 2,000 as Democrats accept President Donald Trump’s demands to put more money in Americans’ pockets.

The move would increase stimulus controls under the coronavirus aid package and government funding package from $ 600 to $ 2,000 by the end of the year. The vote came the day after the signing of the $ 2 trillion pandemic aid and the year-round government spending bill.

The House passed the payments in a quick process with just enough assistance to hit the required two-thirds threshold. The chamber approved the measure with 275-134 votes.

Democrats backed the bill by a margin of 231-2. Forty-four GOP officials backed the move and 130 voted against after Republican spent days calling for Trump to increase payments to $ 2,000.

A spokesman for Senate Majority Leader Mitch McConnell, R-Ky., Did not immediately respond to a request to comment on whether the House would vote on the bill passed by Parliament. In a statement on Sunday welcoming Trump’s decision to pass the bill by the end of the year, McConnell made no mention of plans to vote on larger payments.

Chuck Schumer, chairman of the Senate minority, said Monday he would try to pass the laws in the Senate on Tuesday.

“Every Senate Democrat is in favor of this much-needed increase in emergency financial aid, which can be approved tomorrow unless a Republican blocks it. There is no good reason for Senate Republicans to stand in the way,” he said in a statement.

Last week the president called the relief bill passed by Congress a “shame”. He waited days to sign the package after receiving it from Congress. Trump claimed he was opposed to the bill his Treasury Secretary helped negotiate, which included many of his White House’s budget priorities, because it contained too little direct money for Americans and too much foreign aid.

When asked if the $ 600 payments were still on their way as of this week, Treasury Secretary Steven Mnuchin said earlier, a senior finance official said the department expected the payments to be made on the schedule he was discussing. If Congress approves the $ 2,000 checks, the department will top up the money already spent.

In a statement explaining his decision to sign the law on Sunday, Trump noted that the House, and possibly the Senate, could approve larger cash contributions. Most Republicans in the GOP Senate, however, have opposed a check for $ 1,200.

Trump’s move completes the chaotic eight months of efforts in Washington to send another round of coronavirus relief. Americans waited months for more help after the financial lifelines that helped them through the first few months of the pandemic ran out over the summer. Trump’s delays in signing the year-end bill can cost millions of unemployed Americans a week of unemployment benefits after two key relief programs briefly expire.

The president’s signature prevented the government from closing, which would have started on Tuesday. Further delays would have endangered a federal eviction moratorium, which will be extended by one month until January 31.

Calling the relief bill a down payment, Democrats plan to push for further aid after President-elect Joe Biden takes office on Jan. 20. Since they had asked for larger direct payments during the relief talks, they jumped on the president’s support for $ 2,000 deposits.

On Monday, Biden told reporters he was supporting payments of $ 2,000.

House spokeswoman Nancy Pelosi, D-Calif., Has urged Trump to put more pressure on his party to support the checks.

“To reject this would mean to deny the economic challenges people are facing and it would again deny them the relief they need,” she said on Monday ahead of the House vote.

At least one Senate Republican, Marco Rubio of Florida, said he would support the larger payments.

“I share the concern of many of my colleagues about the long-term impact of additional spending, but we cannot ignore the fact that millions of working-class families across the country are still in desperate need of help,” he said in a statement Monday.

Meanwhile, Senator Bernie Sanders, I-Vt., Threatened to delay the Senate’s plans to overturn Trump’s veto of the National Defense Authorization Act this week unless the chamber votes on the larger checks.

House Democrats unanimously tried to make payments of $ 2,000 during a pro forma meeting on Thursday. However, the vote failed because House Minority Chairman Kevin McCarthy, R-Calif., Did not approve it.

Earlier this month, Senator Ron Johnson, R-Wis., Twice rejected attempts to unanimously pass US $ 1,200 direct payments in the Senate. Sanders and Senator Josh Hawley, R-Mo., Pushed for the checks as part of the relief package.

Schumer’s attempt to put pressure on the Senate Republicans stems from the fact that two GOP incumbents – Sens. David Perdue and Kelly Loeffler – will compete in Georgia on January 5 to control the Senate and shape Biden’s agenda . Democrats have made pandemic aid a major topic in the races.

The $ 900 billion portion of the pandemic relief legislation includes payments of $ 600 plus a weekly unemployment insurance supplement of $ 300 per week through mid-March. It expands programs that enable freelance, gig, and self-employed professionals to receive benefits and increase the number of weeks people can get insurance.

The bill provides more than $ 300 billion in small business support, mostly in the form of forgivable loans from the Paycheck Protection Program. A $ 25 billion rental aid fund will be created.

It includes more than $ 8 billion to distribute Covid-19 vaccines and $ 20 billion to record free shots to Americans. It will also invest $ 82 billion in education as schools struggle to reopen, and $ 45 billion in transportation, including airline payroll assistance.

The aid package does not fund state and local government aid that Democrats and many Republicans support as a measure to prevent layoffs. However, the GOP heads of government have spoken out against approving the aid without also protecting companies from coronavirus-related lawsuits.

Democrats plan to push for state and local support and another round of direct payments, among other things, after Biden takes office.

– CNBC’s Ylan Mui contributed to this report

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