Dow Jones surges 450 points on Trump stimulus statements; Apple snaps back

The Dow Jones Industrial Average jumped more than 450 points on President Trump’s latest coronavirus stimulus statements. Dow Jones components Apple and Boeing snapped back, while Tesla rallied more than 2% before cutting gains in morning trade.

stock chartScott Lehtonen for Investor’s Business Daily:

Dow Jones leaders Apple and Microsof rose 1.6% and 1%, respectively, in today’s stock market. Boeing climbed almost 4% and was one of the top performers on the Dow 30.

Late Tuesday, President Donald Trump tweeted, “If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy?”

Early Wednesday, Trump followed up with: “Move Fast, I Am Waiting To Sign! @SpeakerPelosi.”

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 24.3% for the year through Tuesday’s close. Meanwhile, the S&P 500 is up 4.0%, while the Dow is down 2.7% year to date, through the Oct. 6 close.

MacDailyNews Take: As we close in on Election Day in the U.S., expect volatility.

15 Comments

  1. This is nonsense. Trump just ended the stimulus talks. This has confused Republicans, who say it’s the greatest election season blunder ever made.

    Stocks have gone up despite his statement. And nobody believes his taunt about these stimulus checks.

    The current stimulus package is about to end, costing tens of millions of Americans needed rent and food money. That’s the @realdonaldtrump.

        1. It’s simple: the President doesn’t want a massive omnibus package designed to bail out failed Democrat blue state failures that masquerades as “COVID relief.”

          Those failed Democrat states should clean up their own messes. Voters in those states should wake up and stop voting for more Democrat failures.

          Anyone who’s confused by what’s happening here need only read The Art of the Deal:

          “The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you’re dead. The best thing you can do is deal from strength, and leverage is the biggest strength you can have. Leverage is having something the other guy wants. Or better yet, needs. Or best of all, simply can’t do without.”

          “Sometimes, part of making a deal is denigrating your competition.”

          “I never get too attached to one deal or one approach. For starters, I keep a lot of balls in the air, because most deals fall out, no matter how promising they seem at first.”

          “I believe in spending what you have to. But I also believe in not spending more than you should.”

          President Trump is toying with vapid career politicians like Pelosi.

          1. In political terms, I believe this could be called “brinkmanship.” The problem with this negotiation strategy, as I see it, is that it destroys the positive environment needed for consensus and and can not be called “negotiating in good faith.” And before you jump on me, I really think both sides know exactly what they are doing.

            The first one to blink will be the one who believes that they gain the most by having the bill passed, or loses the most when it fails. And that, like so many things in this modern era, is going to come down to messaging.

            And because both sides are looking for the “win” instead of working together, the American people are left without.

    1. Wow you delusionals are really out there. “Chaos and confusion” and “he’s manipulating the stock market” seriously?

      The worst aspect of this is the Democrats playing their favorite “never waste a good crisis” game with the stimulus payments.. you people should see that, instead you go all derangement syndrome and make no sense.

  2. Apple likely won’t snap back until the iPhone event or more likely, the coming quarterly financial report. The stock is looking downright lackluster compared to Netflix or Roku. I have no doubt Apple will have a fine holiday season and return to former high levels, but meanwhile Apple stock will just hobble along trailing other tech stocks. This is not a criticism of Apple. It’s just how I see things at this point.

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