Tuesday, stocks bounced as President Trump promised he is “going big” with plans to prop up the staggering economy during the coronavirus crisis.
The White House’s proposal at $1-T, augments the Fed’s latest emergency move to get markets running more smoothly.
President Trump wants the government to send checks to Americans in the next 2 wks to help support them while chunks of the economy come closer to shutting down, Treasury Secretary Steven Mnuchin said Tuesday.
Secretary Mnuchin briefed Senate Republicans on the proposal, which could also include $50-B for the airline industry and $250-B for small businesses.
Tuesday, the major US stock market indexes finished at: DJIA +1048.86 at 21237.38, NAS Comp +430.19 at 7334.14, S&P 500 +143.06 at 2529.19
Volume: Trade on the NYSE came in at 2.2-B/shares exchanged
- NAS Comp: -18.3%
- S&P 500: -21.7%
- DJIA: -21.4%
- Russell 2000: -33.7%
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bearish to Neutral in here.
Looking Ahead: Investors will receive Housing Starts and Building Permits for February and the weekly MBA Mortgage Applications Index Wednesday.
Have a healthy day!
