Stocks largely shrugged off Trump's criticism of the new Covid-19 relief package, a move that could delay the deployment of funds to struggling Americans.
 | WED, DEC 23, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 130.96 | -0.92 | -0.70% | | INTC | 46.57 | +0.40 | +0.87% | | MSFT | 221.02 | -2.92 | -1.30% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 130.96 | -0.92 | -0.70% | | AAL | 15.89 | +0.41 | +2.65% | | GE | 10.86 | +0.25 | +2.36% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 130.96 | -0.92 | -0.70% | | MRNA | 130.34 | +4.46 | +3.54% | | TSLA | 645.98 | +5.64 | +0.88% | |
| |
The stock market appears to be calling President Donald Trump's bluff. The S&P 500 was steady following three straight days of losses Wednesday, shaking off Trump's abrupt demand for changes in the Covid-19 relief package. The Dow industrials added 114 points as cyclical sectors, including energy, financials and materials continued their late 2020 comeback. "It feels like the market is following the rule of 'watch what he does, not what he says' in terms of the President's late night drive-by shooting of the Covid aid package," said Art Hogan, chief market strategist at National Securities. "Odds are there is enough time to tweak the relief legislation enough to get it passed and signed."  Also on Wednesday, a better-than-expected reading on U.S. weekly jobless claims helped support sentiment. The number of first-time unemployment-benefits filers decelerated to 803,000 in the week ended Dec. 19. Economists polled by Dow Jones expected initial claims to rise to 888,000. Still, a total of 20.4 million Americans were receiving some kind of unemployment benefits through Dec. 5, the Labor Department said. |
Post a Comment