After a 1.5% jump on Wednesday, the S&P 500 is now up about 42% since Trump, a Republican, was elected in November 2016, compared with the benchmark's 31% gain during the same amount of time after Obama, a Democrat, was elected in 2008. While the S&P 500 has surged 36% from its March lows and the Nasdaq Composite is just 4% short of record highs, investors remain wary of a deep and extended economic slump resulting from the coronavirus pandemic. For over three years, Trump repeatedly highlighted on Twitter and to reporters the stock market's stunning run-up, citing it as evidence of his success in the White House and making it part of his case for re-election this November.
- 2020-05-28 06:46:49Z
(Bloomberg Opinion) -- Don't fight the U.S. Federal Reserve - repeat that mantra until it sticks.Jamie Dimon, the boss of JPMorgan Chase & Co., put it well this week. "This wasn't the bazooka," he said, referring to Jay Powell's response to the coronavirus crisis. "The Fed took out the whole military and applied it. Just announcing these programs reduced spreads (the difference between corporate bond yields and their benchmarks) in the market. It's going to save a lot of small businesses." In the past month, the equity market's glass has gone from pretty much empty to at least half full and that's down to the coordinated fiscal and monetary effort from authorities far and wide. You want...
- 2020-05-26 20:42:23Z
By some estimates, nearly one in four Americans is out of work. A steady stream of bankruptcies has begun, both out loud and quietly, and many businesses have shuttered for good. The full extent of the damage wrought by the … Continue reading ->The post Why Is the Stock Market Up? appeared first on SmartAsset Blog.
- World/Latin America
- 2020-05-26 19:48:29Z
The Justice Department on Tuesday informed Sen. Dianne Feinstein that she was not a target of any investigation into stock trades.
- 2020-05-26 19:23:24Z
(Bloomberg Opinion) -- Something strange happened in the U.S. stock market on Tuesday.No, it wasn't that the S&P 500 crossed 3,000 for the first time in almost three months, generating a yelp of joy from the White House and groans from Wall Street veterans who remain perplexed at the seeming disconnect between financial markets and the American economy.Rather, the most unusual part of the latest rally is that bank shares clearly led the advance. As of last week, Bloomberg's 18-company S&P 500 Banks Index was down more than 40% in 2020, trailing the broader stock market by an almost unprecedented degree since the coronavirus pandemic shut down the world's largest economy. However, the...
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