The S&P 500 stock market index rose more than 1% in day-trading Tuesday; setting a record high as Americans head into the December holiday season amid the global Coronavirus pandemic.
“The Dow Jones Industrial Average climbed 185.28 points, or 0.6%, to 29,823.92. The 30-stock gauge jumped more than 400 points at its session high to a new intraday record. The S&P 500 rose 1.1%, or 40.82 points, to 3,662.45, marking a fresh record closing high. The tech-heavy Nasdaq Composite gained 1.3%, or 156.37 points, to 12,355.11, also notching a record close,” reports CNBC.
“Investors have focused … on the potential for a return to normal social and economic activity based on the widespread rollout of effective vaccines in the first half of 2021,” said Mark Haefele, CIO of UBS Global Wealth Management, in a written statement. “We see further upside for global equities in this environment, but also expect market leadership to continue to shift.”
Read the full report at CNBC.
BREAKING NOW: Stock Market APPROACHING ALL TIME HIGH, Could Break Record Any Moment
The United States stock market approached its al-time high Tuesday; with investors and industry insiders saying it could smash previous records at any moment.
“The next big test for the stock market will be whether the major indexes can break through all-time highs, just a short distance away,” reports CNBC. “Stocks have rallied on expectations that the Fed should be cutting interest rates in the near future, and that President Donald Trump would stand down from his threat to put tariffs on Mexico, as he did on Friday. The Dow Jones Industrial Average and S&P 500 are both up more about 5% in June. The Dow is up for six-straight days and futures pointed to another big gain Tuesday.”
“Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!” posted the President earlier Tuesday.
Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!
— Donald J. Trump (@realDonaldTrump) June 11, 2019
The stock market surge comes just days after President Trump announced a last-minute deal with Mexico on immigration; suspending a potential 5% tariff on all Mexican-produced goods.
“I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended,” said Trump last Friday. “Mexico, in turn, has agreed to take strong measures to….stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department. Thank you!”
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.