Stock trader Thomas Lee works at the New York Stock Exchange, Friday, March 13, 2020. Stocks are opening sharply higher on Wall Street a day after the worst drop since 1987.
An early surge in buying subsided around midday, but then regained momentum by mid-afternoon, leaving major indexes up about 3.3%. They had been up as much as 6% earlier. The Dow Jones Industrial Average was up more than 740 points. The Dow’s 10% drop a day earlier was its worst in more than 30 years.
Treasury Secretary Steven Mnuchin said on CNBC that the two sides were “very close to getting this done.” President Donald Trump was expected to hold a news conference later Friday. Even with Friday’s pickup, the stock market was on track for its worst week since October 2008, during a global financial crisis. In just a few weeks, U.S. stocks have wiped out all the gains made during 2019, one of the best years for the market in decades. All the major indexes are in what traders call a bear market.
Investors’ anticipation of a government stimulus effort and a rate cut by the Fed next week likely put traders in a buying mood, though it’s not unusual for stocks to rebound a day after a big decline, something Wall Street calls a “dead cat bounce.” This week’s historic sell-off helped to wipe out most of the big gains since President Trump took office in 2017. After hitting an all-time high on Feb. 19, the S&P 500 fell more than 20%, officially ending Wall Street’s unprecedented bull-market run of nearly 11 years. The slide into a bear market has been the fastest since World War II.
Not sure which is a scam.. the stock market or Trump?
Monday will be red. RED!
Suckers rally. Huuuuuuuge drop again on Monday for theDOW
$50 billion tax payers money stock market buy out for the rich. Sure it rises 9%. Smh
it indicates that stock market has confidence on Trump fighting against coronavirus. trump finally takes the right choice instead of always telling lies and ignoring American lives.
This is too sensitive to idiots.
Has nothing to do with the measures the feds dumped a trillion dollars into the stocks this week.
Odd photo for this headline
Oh wow. Never thought they would go up again...not. I’m going to double my 750k bet!
NBC29 Trump 2020. Deal with it
russian_market Goodluck with that Mr Trump...markets headed lower atleast 10% from the 2020 low
wtf i didnt even get to buy the dip
23,185.62+1,985.00 (+9.36%) The Dow rose because of trumps PEP Talk with other white only business leaders. On 02/12/2020 the DOW closed at 29,276.34 so because of this CORONAVIRUS has dropped the stock market 6,090.72 since 02/12/2020
Nonsense. The Stocks did not even recoup it's one day historic lost of over 2000+. Please stop the subterfuge & false statements to please Donald Trump & Wall Street. Think & care about Main Street & the Americans who are suffering under Trump's pyramid.
Big money is creating a bull-run to entice small investors to stay in the market or recover some of their money. The Fed declared earlier that it would pump 1.5 trillion dollars in the market to stabilize it. JP Morgan and Goldman Sachs led the way up the hill today.
So are we a bull market again? Just trying to keep up. 🤑
i would like to one of those guys or groups of guys that have so much control over the world economy that any information they share would have to considered inside information because of their wealth and influence on the economy. aka:corruption
Goes to show how worthless the stock market metric really is. It's based on literally nothing
Yeah..... See ya Monday.
Trump is a true leader. We’re going to come back stronger.
Caption for that pic. 'Damn, about time he did something other than whine.'
til next week, anyway...
When stocks were falling that's all you clowns wanted to talk about. Now that it jumped 2000pts you don't want to talk about it? 😂😂😂 🤡🌍
Yeah, it'll do that when the fed injects a trillion dollars of debt into the market.
😂😂😂 I don't care
It is a trap
' WORK, CONSUME & SHUT YOUR MOUTH ' LIKE 2008 CRISIS : PRIVATE profit & dividends / COLLECTIVE costs & consequences IN CORONAVIRUS I TRUST
russian_market The dude on the trading floor looks like he was short. 🤣
russian_market fools
russian_market much might be a little overstated
MORE AMERICAN STUPIDITY This is only the beginning.... Things will get worse, very fast....
*9.50%
he basically assured the healthcare industry a windfalll from our suffering. solid work.
Smoke curtains on real human crisis, way to go!
I couldn't think of a better example of how disconnected 'the stock market' is from the reality of our society.
Means absolutely nothing if companies are suffering cause we’re being told to basically stay home. All sports, some countries, many schools etc. who cares about the markets!!!!
A temporary trillion dollar band-aid to help the wealthy and himself. That’s who he is.
ankhfit8 it will stabilize. The problem is we have a president that can affect the market with a news conference that could increase significantly or fall into a great depression.
Bet you hate reporting that. realDonaldTrump has this handled. In 60 days when virus fades and economy roars back, all MSM outlets and TheDemocrats are going to look like 'The sky is falling' idiots. Landslide victory for POTUS in November. KAG2020
Hence the reason for, and why it was, an infomercial
If you take a case to the Supreme Court what happens? In order for an idea or a judgement to pass 5 of the 9 people have to agree (the majority). This is how the country should be run. No one person but a council of people. Scientists, lawyers, engineers, doctors..
DennisTFP Thank you
What a joke.
Closer to 2000 points than 1900.
The POTUS announcement is making a BIG market push, but it feels like putting a band-aide on a gunshot wound. The Fed drops rates again & banks are already max-leveraged. Makes you wonder just how many times we can go back to that well before it goes dry.
Business 'much'?
Little late.
Until the testing is available for real and not lied about it, will fall even harder.
Just goes to show that stocks have nothing to do with the value of a company. It's purely speculation.
That’s why realDonaldTrump had the news conference at this time, on this day. He could care less about Americans dying. He’s trying to manipulate the market.
He paid them. Watch
Dump on retail on monday/tuesday
It’s a false surge. The f’n idiots in the WH have NO idea what they’re doing and it will become apparent. the stocks will plunge again.
By Monday traders will have remembered Trump is an incompetent moron who can't follow through on anything.
This lie filled presser was timed perfectly, right before the markets closed. They had no time to fact check all the TrumpLies.
When it inevitably spreads, it will tank again.
Can he announce his resignation? That’ll help the stock market,
Wall Street harvesting the sheep.
But no tests.
He is giving the response to the coronavirus crisis to private companies. I feel so sorry for the poor people in America.
VvoOolLaaAtiLittTTtyYYY
1% of 100 million are the only percentages Trump needs to think about.
They will be back down in a couple hours. They jumped because the good ol us of a injected another 500 billion into the markets. Remember what happened when we did that yesterday? Up in smoke.
CONTEXTUALIZE THIS, FOR FUCK'S SAKE This was the perversion of a Rose Garden address into a MAGA corporate circle jerk in order to inflate the stocks of major US companies before the closing bell. Americans are dying & THIS is what POTUS is doing. SHAME! TrumpPressConference
Always about the stock market and not American lives. We see you 🙄
Who the hell cares when people are dying?