The market seems to have liked Trump advertising a payroll tax cut…..
It appears that the teaser from President Donald Trump’s press conference last night about the steps that the U.S. government might take to soften the economic blow of a more severe response from the COVID-19 outbreak in the U.S. has had the desired effect. At least it looks that way, given how the stock market opened regular trading hours.
Whether or not the President is able to come through with a plan (and that’s actually more of an open question than it should be), the promise of a plan was enough to keep the markets from falling over a cliff on Tuesday. The major indices are trading up as we write to you:
- DJIA: +773.43 points, +3.26%
- S&P 500: +81.11 points, +2.95%
- Nasdaq: +222.38, +2.80%
Market only up +160 points or so coming up on @2:00 PM DST NY