U.S. stock futures rebounded Wednesday from Tuesday’s slide after President Donald Trump tweeted support for stimulus measures and targeted aid to airlines.
Yesterday, Trump halted talks of a broad omnibus stimulus package with House Democrats.
…request, and looking to the future of our Country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business. I have asked…
— Donald J. Trump (@realDonaldTrump) October 6, 2020
…also coming back in record numbers. We are leading the World in Economic Recovery, and THE BEST IS YET TO COME!
— Donald J. Trump (@realDonaldTrump) October 6, 2020
CNBC:
Dow futures gained 145 points, or 0.5%. This implied an opening gain of nearly 200 points. S&P 500 futures added 0.4% and Nasdaq 100 futures rose 0.35%.
President Trump urged Congress to approve airline payroll support, saying that money and aid for small business could be paid for with unused funds from the previous stimulus.
The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!
— Donald J. Trump (@realDonaldTrump) October 7, 2020
Trump also urged Congress in a tweet to approve $1,200 stimulus checks for Americans.
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? @MarkMeadows @senatemajldr @kevinomccarthy @SpeakerPelosi @SenSchumer
— Donald J. Trump (@realDonaldTrump) October 7, 2020
Scott Lehtonen for Investor’s Business Daily:
Dow Jones futures rallied more than 200 points early Wednesday, while S&P 500 futures and Nasdaq 100 futures were also higher, on new President Trump coronavirus stimulus tweets. Tech giant Apple announced a product event that will likely reveal a new iPhone next week.
Apple announced a new product launch event on Oct. 13, where it’s expected to reveal the next model of the iPhone. Apple titled next week’s event “Hi, Speed,” a likely reference to the high-speed capabilities of the 5G iPhones. The company did not specify what it plans to announce, but analysts widely expect the iPhone 12 series handsets to make their debut.
After the Dow’s bullish signal switched the market back into a confirmed uptrend, investors are cleared to start buying new breakout stocks. The best candidates are those that held up the best during the recent stock market weakness
MacDailyNews Take: $1,200 checks ahead of or amidst Christmas shopping season bode well for Apple as the company launches a slew of new products before the end of the year.