Apple stock gains; President Trump expected to sign stimulus bill

Apple stock gained on “Apple Car” news, but the market was lower near midday Tuesday, with the Dow Jones Industrial Average down nearly 150 points despite a COVID-19 stimulus relief bill expected to be signed into law by President Trump today.

Apple logoNancy Gondo for Investor’s Business Daily:

The Dow Jones industrials lost 0.4%, the S&P 500 fell 0.2% and the Nasdaq edged up 0.1% in the stock market today. Small caps tracked by the Russell 2000 outperformed with a 0.4% gain. Volume was mixed, lower on the NYSE and higher on the Nasdaq vs. the same time Monday.

Congress approved a $900 billion stimulus deal late Monday. President Donald Trump is expected to sign the legislation quickly.

Tech stocks have boosted the Nasdaq to a 42% gain this year, while the S&P 500 was up 14% through Monday’s close. The Dow is up 6%, and the Russell 2000 has advanced 18%.

Apple led the Dow Jones index with a 2.2% gain, after trimming an early 5% move. It rose 1.2% late Monday, after Reuters reported the iPhone maker plans to produce its own electric vehicles by 2024. Apple is an IBD Leaderboard stock.

Apple stock cleared an early aggressive entry of 122.09 on Dec. 1. Shares are extended from that entry and are about 5% above a higher aggressive entry at 125.49. They’re about 4% away from a conventional buy point of 138.08.

MacDailyNews Take: A nice day so far for Apple investors.

37 Comments

  1. Just think of how much more that stocks would go up had our vindictive leadership (“PayGo” Pelosi, “Offsets” McConnel, and “Kracken” Donald) given to individuals not just the $600 but $30,000 as they should get to make quantitative easing/stimulus comparable to the millions that millionaires each got the last time and likely now too? Why don’t media quit lying and just call it ledger entry money, money that is no longer backed by gold but by the value of the availability of robust transactions for products and services like, in the case of Apple for example, an iPhone and its apps?
    My friends and I would promptly buy a new carbon bike ($4,000), thus helping to shore up the bike industry. Others would patronize other small businesses and corporations to shore up their own segments. This is how Socialist free money works in nations with fiat currency which, as an aside, exposes the fallacy that Capitalism — as promoted in its PR statements — is inherently strong, Democratic, and provides the most justice at its core. It’s not. I use “Socialist” in the Rightwinger sense of lazy people getting money for nothing, not in the classical sense which is entirely different. It also exposes the fallacy used by both parties that the collection of taxes pays for federal government expenses, in this case the free money. It does not. Proof is that the gov. did not raise any taxes to offset the $600 to individuals. Historical proofs are WWII, the Marshall Plan, Viet Nam War, national highways, and free money to foreign dictators so that they could by US weapons. The latter sounds fishy, highly Socialist, I know but true.

      1. Looks like you are going to get half your wish. As of 9PM EST, the Grinch says he is going to veto a bipartisan bill passed by ⅔ of both Houses. He obviously can’t appropriate relief by executive order. He isn’t King.

        If he sits on the bill long enough before vetoing it, there won’t be time to override his veto in this Congress. So, bye-bye stimulus.

        How do you think the markets are going to react to THAT?

        1. This could’ve been done better and sooner had your karma suture queen Nancy not tied it up for political reasons.

          And don’t doubt me, she did it just to spite Trump, fuck the American public.

          Even Wolf Blitzer has tired of her shit.
          You, on the other hand….

          1. Of course it could have been done better and quicker. Plenty of blame to spread around on that. That does not justify a veto that could delay any relief bill by an additional six weeks or more. People will start being evicted in less than two weeks.

            1. No, not plenty of blame to spread around unless you mean Nancy and people like you who support her bullshit agenda.

              You are so consistently absurd.
              I’m betting Chinese bots study and learn from you…

        2. So called “The Grinch”, who ALWAYS derails any possibility that your vision and thinking would be clear, wants to hike the paltry $600 to $2000. He rightly objected to hundreds of millions going to foreign countries for gender assistance (Pakistan), 1-boat repair (Sri Lanka), $700 million (Sudan debt payment) and millions and millions more for curious projects OUTSIDE of the US.

          Joe Biden praised the process by which the bill was passed, saying “I applaud the bipartisan Congressional economic relief package” and called it “a model for the challenging work ahead.” He added, “it’s just a down payment.”
          I bet he read all of the 559x pages…so, he knows what he’s talking about.

          Interestingly, true sanity was spoken from one I normally don’t agree with. In stark contrast to President Mubble, AOC said, “This isn’t governance. It’s hostage-taking.”
          She added, “It’s over 5000 pages, arrived at 2pm today, and we are told to expect a vote on it in 2 hours.

          And who the F cares what it does to the market (near term) if trillions are spent irresponsibly? This repeated irresponsibility won’t just crater a day on Wall St, it will crater the viability of an economy/currency. Unlike the Print-It Crowd, like head-in-the-sand-Dingler, debt has weight and money has value (ideally). The MMT-Print-It crowd thinks all you need is inflation to get out of the debt hole…which is actually saying, let’s just devalue that dollar in your wallet. Besides, we’ve been adding debt to debt in serious measure since the 80’s and inflation has NEVER done what the Print-It crowd proposes. Our debt has increased. The solution = print more. Funny…that’s reads like a vicious cycle to me.

          1. Ronner, my guess is that your ability to feed your family and save them from becoming homeless is not dependent on a relief bill passing before the current Congress disbands on January 3. Those who need this bill are no more concerned with balancing the budget than were the big companies that benefited from the Trump tax cuts.

            1. Why weren’t you complaining 2 months ago about blocking it?

              Because it was held hostage to affect the election, you know this, you supported her, and you are the type of asshole ruining this country.

              Of course many like you made it through this pandemic just fine, just keep cashing those checks from China, America’s future be damned.

        3. He should Pocket Veto the bill and effectively kill it. He could then announce in a speech more examples of how the sleazy politicians engineered the egregious, wasteful spending on the Pakistani gender confusion money, a border wall for Jordan (OK for them but evil for America??) etc. Call out the politicians and then tell Pelosi/McConnell to come up with a bill solely for stimulus to U.S. citizens or the garbage bill goes in the pocket. Congress can up with the pork bill in the next session if doddering, senile Biden gets in

          1. Trump ain’t telling McConnell ANYTHING because he has no leverage with them. If he did, this would have been huge and RIGHT before the election. Those that need the money should be glad that there’s an election going on in Georgia right now because if there weren’t there’d be no reason for Republicans to even sign this!

            1. Look up what a “pocket veto” is. It only works if the Congress goes into recess within ten days of sending the bill to the White House. The Senate Majority Leader has announced that they will not adjourn until literally the last minute before the next Congress is sworn in on January 4. They need to do that to make sure they have time to overrule the veto on the Defense Authorization Bill, or all the “losers” and “suckers” in the military will have to continue working without pay.

            2. The rest of the Republican Party is worried about the effect on the Georgia senate races if everybody who lives around Fort Benning, Kings Bay, etc is economically slammed because our soldiers, sailors, and military contractors aren’t being paid.

    1. Because we are the inclusive woke bottomless American ATM for the world! Who cares if Trump vetoes it.. Biden can sign in just a couple of weeks… no biggie

      1. It will take more than “a couple of weeks” for the next Congress to organize with its new members and committee assignments and start passing new legislation through the required committee votes and multiple readings in both houses. Everything resets to zero on January 4

        1. The same applies to the Defense Authorization Bill the President just vetoed. If the veto can’t be overruled by the end of the current Congress, all our service members will have gone at least six weeks without being paid.

  2. So, the conservatives here are complaining that the conservatives in congress are not providing conservative voters with more money? And, they want the conservative President to tell the conservatives to provide more money for conservatives? Who ACTUALLY believes that if conservatives said “We wanna give more money to poor people” that liberals would say “NO!”? That’s frickin’ liberal BREAD AND BUTTER, man!

    Who’s stopping the conservatives? Other conservatives?

      1. In answer to my question “HOW ABOUT THEM CONGRESSIONAL REPUBLICANS?”

        House Republicans on Thursday blocked an effort by House Democrats to approve $2,000 stimulus payments for millions of Americans.

        If you’re republican and need the money, um… sucks to be you, I guess. If you want money from THIS administration, you’re going to have to work hard and have millions or at least a corporation. Only by HAVING money will this congress approve you to have… more money?

  3. Federal government spending into the economy makes that segment of the economy wealthy, thus incurring federal debt. Therefore, to that extent, federal debt is good. That spending is done with “ledger entry money.” States, counties, and cities and various sundry communities can’t operate this way because they do not make their own money.
    The question is, which segment do you want to make wealthy by spending into it? Which segment do you want to impoverish by withholding ledger entry money? Which segment do you favor? Which segment is more worthy? Which segment is more needed? Which segment provides the most use to the needy? Which segment provides the most to the least needy?

    Examples of spending into the economy: Interstate highways (Rightwingers do not refuse to use them), Aid to Dependent Children (Rightwingers call these “welfare queens), clean up of toxic waste (Rightwingers are coming around), international wars (Left-wingers and Rightwingers are strong supporters). These are mostly done by hiring private contractors who are workers who receive that money in exchange for providing labor, thus enriching workers.
    Therefore, do not issue opprobrium against ledger entry money AKA fiat currency. Ledger entry money is not a risk to inflation as long as there is the proper amount of demand for products and services. Inflation kicks in only if demand is too high and are scarce.

  4. Let Trump pardon the National debt….so it can be free from the shackles of the conservative spending crowd. The Slease-in-Chief has just pardoned all sorts of critters from deep in the swamp around the White House, so how hard can it be. He can also pardon the incomplete Mexican wall, pardon NATO, pardon the defense bill, ………..wait what?

    He can’t pardon those things?

    Oh. Since he is handing out pardons like candy to murderers, felons, and cronies, I thought he could pardon anything.

    How can any American stomach this…..the world shakes its collective head and simply wonders.

        1. Outrage about what?
          Let’s look at the biggest names-

          Manafort, Stone I don’t care about, they were put on jail because of a political witch-hunt. Argue away, I still don’t care.

          The Hunters Yeah, they did wrong (or he did) but looks like most people doing this are hit with civil suits. Tough call.

          Kushner So he gave money illegally to Democrats….hmm. Surely he deserves an award or ambassadorship from Biden, but he went to jail for framing his brother in law. Hah!
          On the flip side, I bet his pardon story gets more attention than the historic Middle East accord his son helped craft. It’s a huge fucking deal but RedManBad and all…

          So my limited amount of outrage has been used up by the real issues of the last four years. This crap is is petty politics compared to Mueller, the fake race war, gender delusions, impeachment, Kavanaugh circus and on and on till the election fiasco.

          Have at it.
          And Merry Christmas!!

  5. Towertone,
    You seem upset about Biden winning. What is wrong with having 4 years of peace, respect for everyone and just not white people, re-assuming America’s leadership role in the world, fixing a shattered economy and saving lives by taking the pandemic seriously? Sure golfing videos will take a back seat as well as fewer expose books about the dumbass things Trump would do.
    As for Hunter Biden, give it a rest. Did he ride on Dad’s coattails to advance his career? Sure many kids do that in one way or another. Geez, do the names Eric, Ivanka and Don Jr. come to mid? Doesn’t mean anything illegal. Hunter Biden wasn’t using the power of the white house to sell merchandise. Get a grip.

    Only a few more weeks until Jan 6th when BLOTUS humiliates himself and the US one last time in another loser attempt to stay as president. After that circus show passes, then on Jan 20th, we get our real Christmas present….peace and no more listening to Trump news.
    End of the pandemic in sight, end of Trump and the evil spawn of his loins (presumably)…..life will be great in 2021. Thank God!!!!!

    1. You live in alternate universe, guided by ignoring anything good Trump has done.
      You simply have no clue what has been accomplished.
      It’s unreal the hate the left has, so much that you can’t even see what is actually happening in the world.

      Good luck.

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