Stocks rally in the final hour of trading on fiscal stimulus prospects

Stocks rose in strongly in late trading on Tuesday as investors weighed the prospects of fiscal stimulus to curb slower economic growth stemming from the COVID-19 coronavirus outbreak. The Dow Jones Industrial Average traded 1,053.17 points higher, up 4.42%. The S&P 500 was up 125.00, (+4.55%). The Nasdaq Composite advanced 346.64, an increase of 4.36%.

CNBC:

fiscal stimulusFacebook, Amazon, Apple and Netflix all rose more than 1%. JPMorgan Chase and Home Depot led the Dow higher, rising 5.5% and 4.4%, respectively.

“Fiscal stimulus is the antidote that can bridge the gap between what was happening before coronavirus and what will happen after it,” said Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management. “It certainly can’t cure the virus, but it can help contain some of the economic fallout… Today’s trading activity is the market trying to gauge whether the stimulus is going to be sufficient.”

President Donald Trump floated on Monday the idea of “a payroll tax cut or relief” to offset the negative impact from the coronavirus… The market suffered a historic sell-off on Monday, with the Dow and the S&P 500 plunging 7.8% and 7.6%, respectively, both posting their worst day since 2008. The Dow’s 2,013-point drop was also the biggest-ever point drop for the 30-stock average…

Monday’s monster sell-off triggered a key market circuit breaker that resulted in a 15-minute pause in trading early in the session.

MacDailyNews Note: Right around close, shares of Apple are up $17.33, or 6.51%, to $283.50. Apple’s all-time high stands at $327.85, set on January 29, 2020.

18 Comments

  1. No Apple news here. You already have a stock ticker in the corner of your page, MDN. Leave it at that. Then we won’t have to point out the hypocrisy of the GOP rushing to issue white collar welfare, further blowing up an already unsustainable debt.

    1. “No Apple news here.”

      “Apple” is literally in the CNBC news article, genius.

      “Apple news” includes coverage of the company’s stock price and the U.S. and global economies, for sane people.

      1. Anything that can even remotely be conceived as potentially “good for Trump” is criticized by the leftist thought police.

        For the rest of us, a $19.17 per share move in AAPL warrants coverage. The same as it warranted coverage yesterday when the share price of Apple went down, as covered by MacDailyNews (here and here), coverage that was not criticized as “No Apple news” or “clickbait” by the leftist thought police as it was considered to be “bad for Trump” and therefore perfectly fine for public consumption.

        TDS has infected your brains, Leftist Loonies. You’re all about as lucid as your standard bearer, Joe Bidementia.

        1. Speaking of dementia, witness Joe Biden daily and see how many of these early signs of dementia he exhibits plainly and regularly:

          Memory loss
          Difficulty planning or solving problems
          Difficulty doing familiar tasks
          Being confused about time or place
          Challenges understanding visual information
          Problems speaking or writing
          Misplacing things
          Poor judgment or decision-making
          Withdrawal from socializing
          Changes in personality or mood

          Inappropriate aggressive behavior is a glaring sign of dementia.

          It’s amazing that the Democrats have stuck themselves with a dementia victim or a socialist with a bad heart. Is the “plan” to install someone else at the convention? If so, it’s a bad plan, unless you want Trump to win in a Reaganesque landslide.

          1. It’s sad, but you’re likely right. It’s very evident something is quite wrong with Biden in this video:

            1. Joe Biden is running for the U.S. presidency. Imagine running for president and being advised not to speak and having your speeches cut short to minimize the chances that your rapidly worsening dementia will be obvious.

              Now imagine knowing your candidate has either obvious dementia or is a post-heart attack socialist and still voting for them anyway.

              Wow.

            2. Joe Biden shouldn’t be running for president of the local nursing home’s bingo team.

              And the vermin, including his wife Jill Biden (who simply has to know that poor Joe is not anywhere near to being up to this), who are propping him up through this fiasco deserve their ultimate fates.

          2. better an amiable fool than a delusional mobster.

            dementia didn’t stop Reagan worshippers from cheering for everything the poor man uttered. Nancy’s astrologer had as much influence on the administration as Ronny did at the end.

            given the pathetic choices of candidates voters have again this time around, i will probably write in a golden retriever for prez. whoever proposed that here, nice idea!

            1. Oh look! The paid trolls are busy pushing a dementia narrative, that is how scared they are that Lyin’ Don has screwed up his chances for reelection.

              Most Americans would prefer anyone to the crock of shit attempting to tweet his way through his term from his golf course.

              Be sure all you trumpers ignore the Alzheimer-like speech patterns and inability to complete or comprehend full thoughts. Don’t look at all the videos showing your orange dipshit stumbling off Marine 1 or a press stage in the wrong direction, mumbling to his SA detail, “Get me out of here.” Or forgetting his wife is in the room when referring to her in the 3rd person.

              America deserves better than either of these two losers to lead.

            2. Aside from the fact that Biden’s cognitive decline is visible to the naked eye and it is incredibly reckless and repressive to demand that it be suppressed, these DEMENTIA concerns were first raised not by Trump operatives nor by Sanders supporters, nor were they first raised within the last several weeks.

              These concrerns were raised repeatedly over the last year principally by Democratic Party officials and their most loyal allies in the media.

              Now, of course, the mainstream media not named Fox are now are trying to sell us baby shit as butterscotch.

            3. Dear “whatever;” and Realist; whooooops— I mean Mike, is that YOU!!? Three comments of the 9 for this article are from you! Can’t you give it a rest? We see through you and your rabid hatred for anything not Socialist or Communist is obvious. You’re only fooling yourself. Why so desperate to stifle others’ opinions?

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