President Trump Meets with Wall Street Investors on Reopening Economy

President Trump Meets with Wall Street Investors on Reopening Economy

$DIA, $SPY $QQQ $RUTX $VXX

Tuesday morning, President Trump spoke to several billionaire hedge fund and private equity managers about reopening the US economy that over the past 4 wks ground to a halt due to the coronavirus outbreak.

President Trump is re-evaluating whether or not to call for people to return to work as the economic damage from the shutdown has mounted.

He discussed the path forward by phone with money managers including Citadel’s Kenneth Griffin, Paul Tudor Jones of Tudor Investment, John Paulson and Blackstone Group Inc.’s Stephen Schwarzman.

Activist investor Bill Ackman said he has made a “recovery bet” on the economy, investing $2.5-B in stocks, including upping his positions in several of his portfolio companies and reinvesting in others like Starbucks Corp (NASDAQ:SBUX)

These are all Top rated Buys, click here.

Also Tuesday, President Trump said he wants to get the economy back open by the Easter holiday, which falls on 12 April.

Tuesday, the major US stock market indexes finished at: DJIA +2112.98 at 20704.97, NAS Comp +557.18 at 7417.21, S&P 500 +209.93 at 2447.33

Volume: Trade on the NYSE came in at 1.7-B/shares exchanged

  • NAS Comp: -17.3%
  • S&P 500: -24.3%
  • DJIA: -27.5%
  • Russell 2000: -34.3%

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bearish with a Neutral to Bullish bias in here, but positive things are happening to drive this market back North.

Here are the main moves in markets as of 4p EDT:
S&P 500 (GSPC): +208.99 (+9.34%) at 2,446.39
Dow (DJI): +2,093.11 (+11.26%) at 20,685.04
NAS Comp (IXIC): +557.18 (+8.12%) at 7,417.86
Crude Oil (CL=F): +0.49 (+2.10%) at 23.85 bbl
Gold (GC=F): +90.10 (+5.75%) at 1,657.70 oz
10 yr T-Note (TNX): +5.2 bpts to yield 0.8160%

Looking Ahead: Investors will receive Durable Goods Orders for February, the FHFA Housing Price Index for March, and the weekly MBA Mortgage Applications Index Wednesday.

Have a healthy day, stay at home!

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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