5 things to know before the stock market opens August 3, 2020

The White House and Democrats are ll at an impasse over an expanded unemployment benefit launched in March that has recently lapsed. House Speaker Nancy Pelosi told ABC’s “This week” that Democrats are in favor of maintaining a $600-per-week benefit above regular unemployment insurance. Republicans, meanwhile, have proposed extending the benefit at a lower rate of $200 per week. White House chief of staff Mark Meadows told CBS’ “Face the Nation” he is not “optimistic that there will be a solution in the very near term.”

Microsoft on Sunday confirmed earlier reports that it was in talks to buy TikTok in the U.S. even as President Donald Trump threatens to ban the social app because of security concerns. “This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections,” Microsoft said. Terms of a potential deal were not disclosed by Microsoft or TikTok owner ByteDance. However, Microsoft noted it is aiming to end talks by Sept. 15.