No one expects such moves to fix the health crisis, but investors hope they can help blunt the economic blow.
“There are still a lot of questions in the mind of the market as to what will be enough,” said Robert Haworth, senior investment strategist at U.S. Bank Wealth Management. “It’s a start, but there’s still a lot to be determined.” Uncertainty about when the outbreak will be contained and how much economic damage will be done to individuals and businesses has kept the markets on a roller coaster as steep losses give way to sharp gains and are wiped out again, sometimes all in the same day.“I don’t think we’re going to be able to trust movements in the market for some time,” said Tom Martin, senior portfolio manager with Globalt Investments.
The Dow Jones Industrial Average see-sawed through the day. It went from up 600 points to down 300 to up 1,190 and then pulled back again. It was up 668 points, or 3.3%, in afternoon trading. A day earlier, it lost nearly 3,000 after Trump said a recession may be on the way.
Up today, down tomorrow. Bail out around the corner, rich get richer, poor get screwed. Maybe Bernie ain’t all that crazy.
Republicans will no be going ALL OUT on spending with no concern for the deficit. They have realized that they are now the lame-duck party and anything they can do that will make the upcoming Democratic control of the government be as much of a nightmare as possible is a plus.
Thank God for our President!!
So to recap: stock market goes down when it doesn't believe Trump's lies and it goes up it does believe them.
Isn’t it weird how Trump administration attempts to curtail the virus have bolstered the market, while the attempts during the last two weeks to directly bolster the market were futile?
The market will be fluctuating less until the next unemployment report comes out. Then it will take another hit.
Imagine basing your financial decisions on something Trump says. Lol.
the guy on the picture is touching his mouth,careful Covid 19 will come in
Bravo Zulu Me President
I am shocked he deliberately spilled the sugar bowl and we get a dead cat bounce. I would like to see his phone Records to Florida friends.
Socialism for corporations is a-ok but everyone in America trying to earn a living has to fend for themselves huh
Or the rich were simply getting some bargains on cheaper stocks.
5% and all it cost was 500 billion in one day, and a total of two trillion in one week.
It’s called a “Dead Cat Bounce” TrumpIsACompleteFailure
So it will drop another 8-12% tomorrow. Big deal. People may be wiping their asses with $50's by the time this is all over.
Haha, nice try. Somebody predicted it bounced today and tomorrow. You will need a new one.
Why do we keep judging success or wellbeing on the stock market? Until we take care of the people by ensuring their basic needs will be met and sustained, it won’t stay up.
with that much help should have gone up 5000 points at least
Fake plans for a fake recovery. DJT does fake perfectly, all day every day.
well didnt they just put a trillion bucks in it? 🤔
Am I the only American who really doesn't give a shit about the Stock Market right now? I have a mortgage, car loan, and student debt to pay so am faced with going to work and exposing myself to this virus which I may bring home to my family, or risk defaulting on the loans.
Get your hand out of your mouth!!!
This is gross! Workers are hurting and the only thing the useless GOP cares about is fucking stocks! Let the market crash and reset. Stop pumping funds into it until this blows over!
Whoop...
It's the promise to bail out the airlines, cruiseliners, travel industry, restraunts etc...esp Boring for Trump feels things have been so unfair to them. Guess he does not feel if you put out a defective product, no big deal, 300+people died, bad luck. ?Him as a business owner?
Fake economy
Who cares about the dow anymore? It moves like a yoyo whenever the president lies. The metric is worthless
What about AID to PEOPLE
'solidly'
Until they realize he’s lying.
And the debt?
You're telling me that artificially inflating the stock market caused it to rise? No shit. If we didn't pump money into it there would have been another 3000 point drop. Tomorrow will probably be another such drop.
tell this man to GET HIS HANDS OUT OF HIS MOUTH!!!
2 steps backward, 1 step forward...repeat
Will surely go down tomorrow
Money was given out. This isn't confidence it's another scam.
It took 3.5 years for America to learn that Elections are not kids play, something you sitout on b/c you didn’t feel like voting! It has direct consequences on your life! America learned the hard way that Elections Have Consequences! Now, with that lesson learned, Vote on Nov 3!
Cold comfort.
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Source: TheEconomist - 🏆 6. / 92 Read more »