FILE - People walk by the New York Stock Exchange, left, Tuesday, July 21, 2020. Wall Street is drifting in early trading on Monday, Aug. 10, after President Donald Trump announced several stopgap moves to aid the economy.
The S&P 500 was up 0.2% in late-afternoon trading and within 1% of its last record high. The gains came on the first trading day since President Donald Trumpseveral stopgap moves to aid the economy, following the collapse of talks on Capitol Hill for a bigger rescue package. Most stocks in the S&P 500 and across Wall Street were higher, led by hotels, cruise operators and airlines. Smaller stocks were also doing better than the rest of the market, with the Russell 2000 index of small-cap stocks up 1.2%.
But losses for technology stocks were weighing on the market. It’s a continuation of their struggles from Friday, when worries rose that worsening U.S.-China relations could mean retaliations against the U.S. tech industry. It’s a relatively rare setback for the industry, which has been the year’s biggest winners so far and cruised through much of the pandemic. Critics had already been calling tech stocks overpriced, even after accounting for their huge and resilient profits.
Almost immediately after Trump signed the orders, critics said the moves did not go far enough to support the economy and questioned how they would work.
Trump's 'stopgap moves' were nothing but empty reality TV stunts. They said nothing and will result in nothing for those in need. He knew this when he was signing them, but also knows he can blame it in the Dems when they're legally shot down.
pxwhittle Read: promised to give more $$$ to rich people
Great news!
The economy is slowly but surely improving through this pandemic. Hopefully America comes out of this strong soon.
Good for rich people, how about the middle class, what’s left of it, and the working poor! Report on that!
President Trump fought for small businesses and middle-class families. His Tax Cuts and Jobs Act provided relief for 82% of middle-class families and provided $415 billion in tax relief for small businesses.
Once again, THE STOCK MARKET IS NOT THE ECONOMY!!! The average American is still struggling and headed for poverty.
Wall Street stock market is not the economy! It doesn’t not accurately represent 40m out of work, millions that will be homeless, millions that are starving & the increased number dead from Covid19
91GULF WAR annie foley POW1%MIA
'Trump announces several stop-gap moves to aid the economy' ... is a very sanitized version of reality. They've pumped trillions into the markets. Trillions...
Does the GOP stock market feed off of death and corruption? Multi thousands out of work & millions poised to default on loans and their betting it's going to make them money. Someone said a fool and their money are soon parted. We will see.
Stock market doing ok, while most of America is unable to put food on the table, or pay rent. When will people see, the stock market has NOTHING to do with the real economy
Makes complete sense. Governments are dealing with violent protests in almost every major city, but things are great. It’s the contradiction that upsets me, not the fact the stocks are nreaking records now. Reality has to matter. It has to exist somewhere.
Thanks to President trump!
The casino report
The stock market seems utterly detached from the economic realities on the street.
How long are we going to prop up investors with money that wont be earned until 2060?
S&P 500 near an all-time high, 30% of renters didn't pay rent for August. Investor behavior unmoored from reality.
Many of these 'stop gap moves' are questionable at best, many of which are possibly illegal.
What a joke
MEANWHILE THE WORKING CLASS IS DYING BUT HOORAY STOCKS I GUESS
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