Dow surges after Bernie Sanders drops out; Apple among key gainers

Apple rallied 2.1% in today’s stock market, while Microsoft gained 1.2%. FANG stock leader Amazon traded up 0.8%. Tesla turned lower after initial gains on employee pay cuts. The Nasdaq composite hit new session highs in midday trade, gaining 1.8% Wednesday. At around 3pm EDT, the S&P 500 was up 2.1%, while the Dow Jones industrials rose 3.01%.

Scott Lehtonen for Investor’s Business Daily:

Bernie Sanders drops out. Image: U.S. Senator Bernie Sanders (photo: Sarah Silbiger/Getty Images)
U.S. Senator Bernie Sanders (photo: Sarah Silbiger/Getty Images)
The Dow Jones Industrial Average rallied more than [680] points Wednesday midday after Bernie Sanders dropped out of the presidential race. Meanwhile, cumulative U.S. COVID-19 cases topped 400,000. Dow Jones stock leaders Apple and Microsoft advanced, as the new stock market rally continues.

Midday Wednesday, Bernie Sanders announced his decision to withdraw from the presidential election in a conference call with staff.

Within the current stock market rally, the tech-heavy Nasdaq is down about 12% year to date through Tuesday’s close. Meanwhile, the S&P 500 and Dow Jones Industrial Average are down 17.7% and 20.6%, respectively, through April 7.

Among the Dow Jones stocks, Apple stock moved up 2.2%, as the stock continues to move up the right side of a new base. No proper buy point is clear yet, but the stock’s RS line is near new highs. The RS line measures a stock’s price performance vs. the general market and can be used to gauge leadership potential.

MacDailyNews Take: With Apple trading up $6.11 (+2.36%) today at $265.54, shares are up $68.08 year over year, as it closed on this day in 2019 at $197.51. Not a bad performance for AAPL investors, especially considering, you know, the 2020 black swan market crash precipitated by massive worldwide economic disruption due to a global pandemic.

[Thanks to MacDailyNews Readers too numerous to mention individually for the heads up.]

38 Comments

  1. Of course the stock market would rally once the Democrat Party got rid of their biggest socialist candidate and victory for President Trump is obvious vs. Biden. (Of course, victory was obvious vs. Sanders, too.)

    So, it’s going to be:

    Biden-Token Woman 2020. Hey, you can’t spell dementia without D-E-M!

      1. Diamond and Silk! WooHoo! That would be three, Sarah. 🤣

        Hate President Trump is the only thing you posted that is truthful. Obviously, you can’t count and this November Blacks will be voting for President Trump in record numbers.

        Prepare yourself…

    1. America needs to have new rules for presidential candidates age limited from 40 to 60. We need young, healthy, sharp intelligent, with good communication skills. Because we all need to look up and follow to his advices, when the country in crisis like now. A senile leader mental capacity who is mildly dementia going back and forth on his words and forget what he said in 5 minutes only confused us more.

      AMERICANS NEED YOUNG, HEALTHY SHARP INTELLIGENT PRESIDENT WITH GREAT COMMUNICATION SKILLS.

    1. “They’ll blame Bernie for Biden losing to Trump, too:”

      The only ones to blame are idiots that voted for Biden, or for any Demonrat for that matter. Thank you for your stupidity and for Trump’s win in 2020!!!

  2. It is more likely that the market is relieved that a moderate candidate will be nominated for the Democratic Party. That eliminates a possible angle that Trump can be re-elected.
    Given the way that Trump is digging a bigger hole for himself every time he opens his mouth and comes out with yet another mindless comment, the chances of a Democratic victory is become more certain. The manner that Trump has acted during this crisis it making it ever more clear that the man cares about nothing except himself, his image and potential financial interests. I can’t see how he can recover from this as the electorate, with exception of the die-hard republicans, has clearly seen Trump’s lack of compassion and, let’s face it, ineptitude during this time and will punish both him and Republican congress members severely at the election.
    Biden is going to have a field day with all the sound bites that Trump has spewed over the last 2 months. It would be enjoyable to watch had it not resulted in so many deaths that could have been avoided because of Trump’s denial and lack of action when it was so critically needed.

    1. Nov 17: 1st coronavirus case in China

      Dec 31 China informs WHO of unknown virus causing pneumonia

      Jan 14: WHO states the virus in not communicable from person to person

      Jan 21: Dr Fauci states the virus is of low threat to the US

      Jan 26: CDC states the virus is of low threat to the US

      Jan 30 WHO declares the virus a global health emergency

      Jan 31: president Trump bans incoming flights from China

      Jan 31: Biden & Shumer call Trump a xenophobe for banning flights from China. CNN & MSNBC call the move “racist.”

      1. November 28–Defense Intelligence Agency begins briefing the Department of Defense about the potential for the Wuhan outbreak to become a global pandemic. From that point on, the US Government was aware that the Chinese Government was underplaying the epidemic, and was discounting the misleading information from the PRC and WHO.

        January 3–The outbreak and its potential threat was included in the daily White House Security Briefing. Again, the Government was on notice that the threat was far more severe than the Chinese were admitting.

        January 29–White House advisor Peter Navarro sends a memo warning that the virus could kill a half-million Americans.

        March 10–The President assures us, “It will go away. Just stay calm. It will go away.”

        1. Just to bring the sequence begun by Mr. First up to date:

          April 8 (Today)–The Department of Health and Human Services told the Associated Press that the federal stockpile was in the process of deploying all remaining personal protective equipment in its inventory. The epidemic is still weeks from its peak over much of the country.

        2. April 9–The Department of Health and Human Services confirms that federal funding for the Community Based Testing Program ends tomorrow. Many of these sites will close, since the state and local health authorities do not have access to sufficient resources to keep them open.

      1. Ooooooh, d became a g ! Chosen One sycophant likes his echo chamber. Void of facts but full of fake posts & repeated talking points.

        It is obvious that as he claimed, Chosen One could commit murder on 5th Ave and his base trolls would stick by the corrupt bastard anyway. Ethics? Morals? Decency? Honesty? All sacrificed to ensure EXTERNAL forces could weaken the USA without spending a penny. Misinformation was the first step, but the true stroke of genius was to divide the GOP in two as well. Orange Dummy supporters and the old establishment that still have business principles. Orange Genius tells so many lies he cannot keep them all straight, his story changes mid sentence. Given the choice between old white Dementia Guy 1 and Lying Dementia Guy 2, the obvious correct choice is NONE OF THE ABOVE.

        But if you have to vote, please stop the Orange toxic stench. The current presidential puppet has more effectively cleaved the nation into bickering ninnies. Blind partisans here continue to do the dirty work that Putin started. Divided the nation is falling, right before your eyes. Biden isn’t the enemy, he’s the lesser of two evils. If voters all were smart they’d choose 3rd party candidates.

    2. “Biden is going to have a field day with all the sound bites that Trump has spewed over the last 2 months.“

      Obviously, you’re seriously out of touch with reality.

      2 months, ha! 🤣 The Republican National Committee has 40 years of Biden buffoon baggage. Lying on resume, inappropriately touching dozens of women, new sexual harassment claim the media for the most part is ignoring, exactly the same tactic to protect serial liar and sexual harasser President Clinton. At the time was the of the National media losing ALL CREDIBILITY exposing their HYPOCRISY for everyone to see.

      The guy can’t complete a thought or utter a full sentence. He is reading from notes, seriously, these are early signs of Alzheimer’s or worse, Dementia. It is totally irresponsible to vote for a Washington swamp creature on the take who is fading from reality.

      No matter, President Trump will beat Biden like a drum…

  3. Gotta love the new campaign strategy : attack those other guys by criticizing the exact same characteristics the Orange Chosen One exhibits every day. Pretend not to notice The many obvious failings of #45 which would have been disqualifying items in any prior era.

    This is the best the Russian Red team can come up with ?

    1. Every book on the 1918 Flu Pandemic draws the conclusion that many of the deaths could have been prevented if governments around the world had been honest, giving the bad news along with the bad. Instead, they decided that maintaining public morale was more important than saving lives. In the wake of the millions of deaths, everyone swore “Never Again.” Absolute honesty was to be the gold standard forever.

      On February 25, Kayleigh McEnany told Fox Business News, “We will not see diseases like the coronavirus come here,” adding: “Isn’t it refreshing when contrasting it with the awful presidency of President Obama?”

      On March 12, McEnany said 1 million COVID-19 tests had already been distributed in the U.S. A day later, however, the COVID Tracking Project estimated that just 10,000 people had been tested for the virus nationally. 

      On April 7, Kayleigh McEnany was named Presidential Press Secretary.

      As Mark Twain pointed out, “History never repeats but it often rhymes.”

  4. Merica is a one party corporate owned state, with two subsidiaries aka democrats & republicans. Everything else is political theater. Trump & probably Biden will be vying for the leading role in the play for the next four years. With such poor actors its astounding that so many people don’t realize its make-believe.

  5. The Wall St.’s DOW is not the real economy. Making money from momey is not a real job; It’s radical Capitalism. It produces virtually nothing that normal people can use. The real economy is on Main St. Apple has no need for Wall St.’s schemes and hangers-on. Wall St. is like an evil around its neck. So this news is irrelevant to the real American economy.

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