New York Gov. Andrew Cuomo (D) tore into Congress Sunday for not doing enough to support state governments in the $2 trillion coronavirus stimulus bill, accusing lawmakers of "pork-barrel politics" and failing to address state budget shortfalls.

The big picture: Cuomo and Maryland Gov. Larry Hogan (R) issued a joint statement on Saturday calling on Congress to appropriate $500 billion in funding for state governments, as money from the CARES Act can't be used for budget stabilization.

  • Democrats on Thursday blocked $250 billion in additional funding for the Paycheck Protection Program, demanding it include an additional $250 billion for states and health providers.
  • Senate Majority Leader Mitch McConnell (R-Ky.) and House Minority Leader Kevin McCarthy (R-Calif.) issued a statement Saturday saying they will not negotiate with Democrats over the supplemental funding.

What he's saying: "You did an injustice to the places that actually had the need," Cuomo said at a press conference. "Which, from an American taxpayer point of view, that's what you were trying to correct. You were trying to correct the devastation of the virus. Well then correct the devastation of the virus. Not everything has to be an opportunity for pork barrel."

  • "Kaiser Health, which is a very notable organization, said that Nebraska and Montana, for example, Minnesota, are getting approximately $300,000 per COVID-19 case. New York state gets approximately $12,000. How can that be? It can be because in the Senate, it became a game of political pork and, 'I want my share,' as opposed to where is the need genuinely."
  • "Our economy is vital to this country. You want New York's economy up and running. Not just for the good of New York, but for the good of the nation," he added.

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Why it matters: The pace of job growth slowed significantly, suggesting a stalled recovery as coronavirus cases surged and states pulled back on reopening plans.

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Why it matters: It's not just tech stocks that have rallied recently. Just about every asset class has jumped in the third quarter, including many that typically have negative or inverse correlations to each other.