Wall Street jumps on stimulus hopes, upbeat economic data

Major Wall Street indexes jumped on Wednesday, with the S&P 500 on course for its best two-quarter gain since 2009, as investor hopes of an imminent fiscal stimulus package were rekindled, while upbeat data suggested a U.S. economic recovery was on track.

U.S. stocks indexes riseReuters:

House of Representative Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin expressed hope for a breakthrough on a COVID-19 relief package as the House stood poised to vote on a new $2.2 trillion Democratic coronavirus bill.

All 11 major S&P indexes were up. Healthcare, consumer discretionary and financials led gains as data showed U.S. private employers stepped up hiring in September, while contracts to buy previously owned homes surged to a record high last month.

The S&P 500 is headed for its first monthly decline since the coronavirus-led crash in March after a tumultuous September in which the benchmark index and the Nasdaq tumbled from record highs as investors dumped Wall Street favourites including Apple Inc and Tesla Inc.

Moderna Inc gained 3.2% after researchers said its COVID-19 vaccine candidate produced virus-neutralizing antibodies in older adults at levels similar to those seen in younger adults in an early safety study.

The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 56 new highs and 23 new lows.

MacDailyNews Note: Apple rose $1.72 (+1.51%) to close at $115.81 and tacked on another $0.49 (0.42%) in after hours trading. Apple closed the session with a market value of $1.981 trillion.

27 Comments

      1. You can’t be that dense.

        Short answer: Because it helps President Trump. 👍🏻🇺🇸🦅

        Notice your SELECTIVE praise for the biased media mob and the Demoncrats BOTH tirelessly working 24/7 to defeat Trump and no surprise purposely omitting the president’s Treasury Secretary Steven Mnuchin.

        That’s “why” and more….

          1. You mean the normal people who are burning the cities?
            The decent people at the DOJ and CIA that spy, fabricate and mislead Americans for political gains the last 4 years?
            You mean the REAL racist like the SPLC and BLM movement?

            You’ve been suckered by the media so much Buster that you don’t even know who the normal, decent people are anymore than you know the real racist.
            Which is exactly how they planned it….

            1. I saw the debate last night….supporting that pathetic child after a debacle we saw says alot about your character. Yep…keep moving the topic in another direction…Yo must be so Proud (Boy).

            2. Now we know why Trumpet was so upset at Kylie being worth hundreds of millions of dollars and he wasn’t, what is? II Duce worth negative 200 hundred million dollars.

            3. DOJ and the CIA..misleading? All that support BLM are raciist? Lord God in heaven man, you do read or even believe what you are writing?
              There is medical help out there to fix your, grassy knoll, 9/11 was a hoax, paranoid conspiracy issues. Maybe go outside and walk around and breath the fresh air.
              Better still, initiate an intelligent conversation with someone with different political views than you without calling them demonrats or libturds. There are plenty of use thaat are reasonable and NONR of us want to DESTROY their country. That is jut bullshyte on an unimaginable scale.
              Tribalism is ruining the country and making once reasonable and intelligent people look like infantile morons. It has to stop. You can make a difference…if you want to.

            4. Well said and noticed @Buster deflected 100% spot on comments from your post. Another liberal SMEAR MERCHANT without a properly functioning brain…

          2. Prove how President Donald J. Trump is a “racist.” Not interested in drive by Libtard denigrating political opinion. Instead of pooping in a park or peeing on a fire hydrant, I suggest you look up the all time employment RECORD numbers during the Trump administration for women, blacks and Hispanics that proves he is not a “racist.” Oh, too hard?…

  1. Goeb…. keep proving my point about the lack of intelligent conversation here. Seriously… pooping? Did you not listen to what he said yesterday at a rally inMinnesota about Omar? An American congresswoman? And you can still say that he is not?

    Please go away and be quiet, I am trying to talk with the adults here.

    1. So you decided to poop in the park and pee on a fire hydrant rather than educate your pathetic self and LEARN the truth about the Trump economy before Covid.

      Gee, what a surprise…

    1. After suggesting that brown-skinned American citizens born in Somalia should not be eligible to hold public office, he went on at length about how he knew that the good people of Bemidji, MN (which has a less than 4% combined Black and Hispanic population) were fine Americans because they had good genes, just as you know that a racehorse will be a winner if it comes from superior bloodlines. While he did not refer to their German and Scandinavian forebears as “Aryans,” everyone knew what he was talking about.

      1. President Tump before Covid broke government employment records for Blacks, Hispanics, women and the lowest employment rate in 50 years.

        Please deny it, whenever you are ready…

        1. He inherited a rising economy, so of course his numbers set records in absolute terms. The fact remains that twice as many Americans are unemployed today as when he took office, and those losses (like those from the virus directly) have disproportionately affected persons of color.

          1. Yes, President Trump took over a barely limping growing economy and set several all time government economic records UNDER HIS WATCH YOU REFUSE TO ACKNOWLEDGE!!!

            Facts are facts:

            “Economic growth, measured as the change in real GDP, averaged 2.0% from Q2 2009 to Q4 2016. This was slower than the 2.6% average from Q1 1989 to Q4 2008.”

            “Under President Trump, real GDP beat expectations and grew at a 2.5 percent annual rate from the election to the end of 2019—faster than the rate under President Obama’s expansion period.”

            I would post all the government records while President Trump is in office, but in your case you would close your brain, eyes, ears and mouth and if you responded, let’s play it again, Sam:

            Why am I so doubtful whenever you are out of sight…

            WooHoo…

            Deflection… torments my heart
            Deflection… keeps us apart
            Deflection… why torture me

            Parody on lyrics from “Suspicion” by the King Elvis …

            Crawl back in your clueless Democrat hole… 🙈🙉🙊

  2. I am sure the fine people of Bemidji, MN al have good genes INCLUDING the 4% which TxUser mentioned which, although I am not a mathematical genius seems to make up 100% of them. Therefore skin color doesn’t appear to matter …. unless you are GoeB apparently.

    1. “Therefore skin color doesn’t appear to matter …. unless you are GoeB apparently.”

      Right! Skin color does not matter because we are all created equal. Go pee on a fire hydrant liberal lightweight… 🤣

  3. I believe that Apple actually make good products that benefit society, at lest in the context of true Capitalism.
    “Stimulus” and “quantitative easing” mean that the corporate friendly, and individual hating Federal Reserve Bank makes new money by a mere ledger entry. This is a gift of free money which is s Socialist bailouts to weak, struggling, or failing corporations — which excludes Apple in my opinion — so of course these stressed corporations that can’t make market forces work for them would rejoice on Wall St. over getting an infusion of free, unearned money.
    So, in my opinion, any company/corporation that claims to tout the benefit of market forces but then depends on Socialist helping hand should be allowed to disband, go bankrupt, go out of business, as market forces dictate and not cheat the forces by declaring Ch 11 to continue to live on like a Zombie, like the Undead.
    However, if a corporation declares that it wants to exist to benefit society and not just its shareholders, then it qualifies for #1,a Socialist Bailout and, #2, it becomes part of the commons so that a larger segment of society can benefit from its products and services.

    1. “So, in my opinion, any company/corporation that claims to tout the benefit of market forces but then depends on Socialist helping hand should be allowed to disband, go bankrupt, go out of business, as market forces dictate and not cheat”

      From your lips to God’s ears…👍🏻

    1. All you have is “small words” and if you seriously think star ratings are honest and indicate reality — then you are DUMBER than the rusty fire hydrant you pee on…

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