The stock market soared at closing time Friday afternoon; posting the biggest weekly gain since November 2018 as the Dow Jones posted a five-day increase of 1168 points.
“The Dow Jones Industrial Average clawed back 1168 +points giving the blue-chip benchmark its best seven days since November of 2018, according to the Dow Jones Market Data Group and the best five days of 2019. The Dow crossed back above 26,000, an important psychological level for many traders, before settling just below that level on Friday,” reports Fox Business.
“The treasury market and perhaps the equity market as well today on its rise is saying the Fed’s going to cut rates” noted Nuveen Chief Equity Strategist Bob Doll in an interview on FOX Business.
“There is ample historical evidence that this [a rate cut] is a good move by the Fed,” Peter Dietrich, Fairfax Global Markets CEO, told FOX Business.
The strong gains come as the Trump administration makes progress in future trade talks with Mexico; threatening a 5% tariff should the two countries fail to reach an agreement.
“Immigration discussions at the White House with representatives of Mexico have ended for the day. Progress is being made, but not nearly enough! Border arrests for May are at 133,000 because of Mexico & the Democrats in Congress refusing to budge on immigration reform. Further talks with Mexico will resume tomorrow with the understanding that, if no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule. The higher the Tariffs go, the higher the number of companies that will move back to the USA!” posted the President online.
….talks with Mexico will resume tomorrow with the understanding that, if no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule. The higher the Tariffs go, the higher the number of companies that will move back to the USA!
— Donald J. Trump (@realDonaldTrump) June 5, 2019
Read the full report at Fox Business.
AMERICA UNLEASHED: Stock Market HITS ALL TIME HIGH, Unemployment at 49 YEAR LOW
The US economy continued to smash records and surpass expectations in September, with new data showing the American unemployment rate at a half-century low and the Dow Jones Industrial Average reaching an all-time high.
According to CNBC, the Dow rose 219 points Thursday with the S&P 500 also breaking its previous record. The President hailed the news on social media, saying “S&P 500 HITS ALL-TIME HIGH Congratulations USA!”
S&P 500 HITS ALL-TIME HIGH Congratulations USA!
— Donald J. Trump (@realDonaldTrump) September 20, 2018
The stunning economic data may spell disaster for Democrats hoping to retake Congress this fall, with House Minority Leader Nancy Pelosi vowing to repeal the ‘GOP Tax Scam’ should her party win big during the midterm elections.
Read the full report at CNBC.
BREAKING: Stock Market SOARS 450 Points, Posts ‘EIGHTH STRAIGHT’ Weekly Gain
The US stock market soared Friday afternoon; rising nearly 450 points and posting its “eighth straight weekly gain.”
“The Dow Jones Industrial Average jumped 443.86 points to 25,883.25 as J.P. Morgan Chase and Goldman Sachs outperformed. The S&P 500 gained 1.1 percent to close at 2,775.60, led by the energy and industrials sectors. The Nasdaq Composite advanced 0.6 percent to end the day at 7,472.41,” writes CNBC.
“Energy shares were boosted by higher oil prices. West Texas Intermediate futures rose 2.2 percent to $55.59 per barrel,” adds the economic website.
The strong stock numbers come just hours after President Trump declared a “national emergency” along the southern border; effectively bypassing Congress on his proposed border wall funding.
Read the full report at CNBC.