Stimulus progress turns Dow positive for 2020; S&P 500, Nasdaq post best week since July

Stocks rose for a third straight session as investors wrapped the best week weekly performance for the S&P 500 and Nasdaq since the summer. Director of the United States National Economic Council Larry Kudlow told FOX Business that he met with U.S. Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows and the new COVID-19 stimulus package would be “relatively broad-based.”

U.S. stocks indexes riseChris Ciaccia for FOXBusiness:

Progress on stimulus talks was reinforced after President Donald Trump “approved” a revised package to help the struggling U.S. economy.

The S&P 500 rose 0.88%, its best week since July, as consumer discretionary, staples and large-cap tech led the gains. The Nasdaq Composite also posted the strongest week since July as Apple and chip stocks posted wins. And the Dow Jones Industrial Average, which is now positive for 2020, gained over 161 points or 0.57%…

Despite the positive sentiment, Senate Majority Leader Mitch McConnell said it was “unlikely” another bill would be passed before the November election. McConnell, however, did say that another stimulus bill was needed to help support the economy.

MacDailyNews Take: Obviously, a strong economy bodes well for makers of essential and coveted goods like Apple – with 5G-capable iPhones, Apple silicon-powered Macs, and much, much more are right around the corner!

It’s 5 o’clock somewhere. We now resume our quest to find out if there really is enough beer on the planet. Prost, everyone! 🍻

40 Comments

  1. These folks haven’t spoken to McConnell in a few days, apparently. If anything is done regarding the stimulus it will be AFTER the holidays and probably not then, either, as McConnell will still be in charge.

          1. I know EVERYONE that has input. For example, I know… and you apparently don’t, that the SENATE has input. What do THEY have to say about another stimulus package?

            “it has absolutely no chance of even getting brought up in that chamber.”

            So, that’s the end of that. Unless, of course, you’re REALLY close with McConnell and have a pinkie promise from him that he’s going to bring it up for a vote in the senate. LOL The worst troll is a low information troll because they’re not even at least entertaining!

  2. EVEN MORE borrowed money to stimulate an economy that WOULD NOT have needed massive stimulus under competent leadership.

    This is simply a lame attempt by Trump to buy votes, although not as lame as sticking his name on $200 checks to the elderly.

    Face is…you elected an incompetent, non-Republican and you have been making excuses for him ever since.

    He will grow into the job…
    He was joking…
    He is such a genius that you cannot understand his game…
    He is a victim…
    He is a highly successful businessman who will make great deals…

    And my favorite – he has learned his lesson…

    This election is going to be VERY painful for the MDN Trumpettes. Karma is lovely.

    1. You are a fucking idiot.

      Voting for Biden because you don’t like Trump is like eating dog shit because you don’t like Broccoli.

      I dare you to name one positive reason to vote for Biden without mentioning Trump in any way. Just one!

      1. He has a heart and the ability to use it in empathy with ordinary Americans who aren’t rich and aren’t personally useful to him. He is as concerned with the Main Street economy as the Wall Street economy. He has concrete plans for health care and the environment, not just platitudes. He listens to science on the coronavirus, rather than to his hunches about how reality would operate if he were God.

        Finally, he is the better of two candidates. That isn’t irrelevant to his qualifications. In our electoral system, we cannot compromise or cast a proportional vote. Third-party votes are meaningless protest votes. Americans have a binary choice, so the arguments against one candidate are arguments for the other.

        1. Txuser,

          It’s easy to see why you were a prosecutor. Too stupid for private practice so you had to live off the public teet.

          You are proof that educated does not mean smart

          1. I can spell “teat.” Yes, I was underpaid relative to lawyers in private practice, but so, traditionally, was the President of the United States compared to corporate CEOs. Unlike the current President, I didn’t seek various ways to monetize my public service.

            1. “Unlike the current President, I didn’t seek various ways to monetize my public service.”

              Hey clueless, the president does not make a one penny salary courtesy of the taxpayers. Please stop lying…

        2. Biden is a 47-year ultimate Washington swamp scum!

          Enriching himself, sons and family in Ukraine and China the same technique as Hillary in Russia — high level quid pro quo government access. He works for himself and cronies and couldn’t care less about the average citizen unlike President Trump.

          I’m sure he has a plan for the Unaffordable Health Care, part two, maybe Obama will give him a hand.

          His plans for the environment are to carry out the RADICAL Green New Deal he partnered with AOC and shut down fracking and energy production that will wreck the economy and put hundreds of thousands out of work. His shifting mouth lately on fracking is because of shifting public opinion, I don’t trust him one atomic particle.

          Biden could not answer and his running mate could not answer during debates whether or not they will expand and pack the Supreme court with like minded ideologues. In 1983 Biden said packing the Court was a “boneheaded idea.” Interesting on Friday Biden in yet another flip flop said the voters have no right to know his views until after the election. FU voters!

          Let’s not forget history, in the 1990s Biden in the Senate was a vocal supporter for passing Clinton’s NAFTA the worst trade deal in history moving millions of jobs out of the USA and shuttering thousands of factories. Well, President Trump fixed that huge mistake as more work needs to done on factories reopening and facing up to China. Biden is the preferred candidate in China gee, I wonder why.

          This is the THIRD presidential run for Biden:

          1987~ He was forced out of the race as reported in the New York Times that he copied word for word (plagiarism) a speech by a British politician. Obviously this DISHONESTY is just peachy keen and fine with the cheerleading prosecutor.

          2007~ Dropped out after He said, “You cannot go to a 7-11 or a Dunkin’ Donuts unless you have a slight Indian accent, I’m not joking.” Also said, “Obama is the first mainstream African-American who is articulate and bright and clean.”

          2020~ “Poor kids are just as bright and just as talented as white kids.” He also asked a black reporter if he was, “a junkie.”

          Back in 1987 and 2007 the media still had a spine and was somewhat fair and balanced. Today, Biden could make the biggest gaffe and they will not report it. That bias and attack mode is now exclusively reserved for the president.

          Biden is a swamp creature enriching his family, a weak mental midget and gaffe machine buffoon. Get a grip!

          Trump-Pence 2020! … 👍🏻🇺🇸🦅

    2. The market bounce back after pence crushed Harris. The news makers made up the story to cover for the effect of the debate. There has been no movement on a new stimulus deal.

      Any deal should be targeted; the money should go straight to the people that need it and not run through the government machine. My gosh we are 27 trillion in debt. Each USA citizens that reads this owe over 427,000 dollars in federal debt.

      The Dems plan is to open the boarders and give free healthcare, free education, free housing, free food to millions of illegal citizens. The dems actually will open the borders. And to pay for it the general idea is to tax the wealthy … and crush businesses… think bout that … insane debt but the plan is to massively increase spending and scare all the successful businesses overseas

      California leads the way

      1. Your reference to first-generation Americans as “illegal citizens” says it all. You do know that progressive taxation (tax the rich more than the poor) has been in the US Constitution since 1913, don’t you?

        1. “Your reference to first-generation Americans as “illegal citizens”

          I don’t read that anywhere in @Woke is broke post. But knowing you your false extrapolations and shameless lying obviously continues…

            1. Correction: He did say it and I missed it. “First generation” word sanitizer for the PC lefties when these people are lawbreakers and obviously you could not care less…

  3. Australia’s Reserve Bank has a saying that when there’s a potential or real recession successive Australian governments subscribe to the dictum; “Go early, go hard, go households”.

    I’ll say no more than that.

  4. This is really simple. Biden is going to lose this election. Looking forward to the crying precious millennial snowflakes in the bleaches hugging each other while Wisconsin and Michigan and Pennsylvania once again come in late and whittle down that Al (as in Alzheimers) Biden minute by minute. Trump is going to get well over 270 electoral college votes, and slap the snot out of every lib on this board.
    Git ready.

    1. The fact that even Mr. Trump’s supporters believe that he would use the full force of the Federal Government to “slap the snot out of” his political opponents during his second term should—quite apart from everything else—convince any American who values our constitutional republic that he needs to be removed from office next January.

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