Reuters / Lucas Jackson

US stocks edged higher on Tuesday as investors looked for signs of progress on government stimulus and US-China trade talks.
The S&P 500 hit a record high in intraday trading before paring gains. 
Housing starts jumped by 22.6% in July, more than economists expected, showing continued strength in the housing-market recovery.
Democrats and Republicans remain deadlocked in negotiations on the next stimulus bill, while the Trump administration on Monday imposed new restrictions on Huawei.
Read more on Business Insider.

US stocks edged higher on Tuesday as  positive housing data outweighed stalled negotiations for further government stimulus. 

The S&P 500 hit an intraday record Tuesday morning, climbing to a fresh high of 3,393.52 before paring gains. It’s the first time the index has reached a record since the coronavirus pandemic roiled global markets in March. See the rest of the story at Business Insider

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US bank deposits have grown by a record $2 trillion since January, when the coronavirus pandemic first hit the country, according to FDIC data.
In April alone, bank deposits grew by $865 million, more than the previous record for an entire year of inflows. 
Bank deposits have been boosted by unprecedented fiscal stimulus amid the pandemic, including one-time checks to households and the Paycheck Protection Program.
Read more on Business Insider.

A record $2 trillion of cash has been piled into the deposit accounts of US banks since the coronavirus pandemic first hit the country in January, according to data from FDIC. 

In the week ending June 10, deposits in US banks totaled $15.47 trillion, according to the FDIC. That’s nearly $2.2 trillion more than the $13.3 trillion that banks had in their deposit accounts at the end of February, the data showed. See the rest of the story at Business Insider

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US weekly jobless claims hit 1.5 million, bringing the 13-week total to 46 millionFormer Fed Chairs Ben Bernanke and Janet Yellen signed a letter with 130 top economists imploring Congress to prevent ‘prolonged suffering and stunted economic growth’Homebuilder sentiment posts a record jump in June, signaling a housing-market rebound from the coronavirus pandemic

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