President Trump Vows Federal Aid Until Economy Recovers From Coronavirus Attack

President Trump Vows Federal Aid Until Economy Recovers From Coronavirus Attack

$DIA $SPY $QQQ $RUTX $VXX

Once we get the economy back, it is gonna all come back to us very quickly.”

Friday, President Trump vowed to keep pushing for more federal spending until the economy recovers from the coronavirus outbreak, and said Americans can expect “much more” than $1,000 checks from the government.

At a White House news conference Friday he said that if “there’s not enough money” in a stimulus bill currently under debate in Congress, “we will do something later, I am sure.”

President Trump and Treasury Secretary Steven Mnuchin advocate for the bill to include direct payments to American families.

We are not talking about a thousand dollar check, we are talking about much more than that,” he said.

He assured Americans that the economy would quickly get back on its feet after the coronavirus outbreak fades, though he said there may be large US job losses in the near term.

Friday, Quad Witching expiry, the major US stock market indexes finished at: DJIA -913.21 at 19174.04, NAS Comp -271.06 at 6878.87, S&P 500 -104.47 at 2304.92

Volume: Trade on the NYSE came in at 2.7-B shares exchanged.

  • NAS Comp YTD: -23.3%
  • S&P 500 YTD: -28.7%
  • DJIA YTD: -32.8%
  • Russell 2000: -39.2%

HeffX-LTN’s overall technical outlook for the major US stock market indexes for the week ended 20 March 2020 is Bearish

Looking Ahead: The NYSE will temporarily shift to fully electronic trading Monday, investors will not receive any notable economic data.

Have a healthy weekend, stay 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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