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It was a good trading day for investors, with all the leading indices on Wall Street closing higher on Wednesday.
Trump’s Twitter messages were effective
On Tuesday, US indices fell after Trump made several messages on Twitter that he had halted talks between Republicans and Democrats and that a new rescue package for the US economy would be approved when he wins the election.
In a new round of messages on Twitter, Trump called on Congress to immediately adopt a new round of crisis packages.
Just before 10 a.m. on Wednesday morning, Trump in a Twitter message asked Congress to immediately adopt $ 25 billion in crisis aid for the aviation industry.
Less than half an hour later, he asked Congress to give millions of Americans a cash payment of $ 1,200, at the same time he wrote that he wanted immediate help for small businesses worth billions of dollars.
This is certainly not the first time we’ve seen the market react to Trump’s tweets, and it probably won’t be the last, says Chris Larkin, head of trading and investment products at E-Trade.
TWITTER: President Donald Trump believes that Congress should pass new stimulus measures. Photo: Bloomberg
Up, up and up
The broad S&P 500 was up 1.74 percent to 3,419.34.
It was a good trading day for bank stocks. Major bank Bank of America was up 2.09 percent, while Goldman Sachs was up 1.25 percent. Morgan Stanley and Citigroup closed up 2.03 and 0.97 percent, respectively.
Trump’s Twitter posts about crisis aid to the aviation industry sent aviation stocks up sharply. American Airlines was up 4.31 percent, while Delta Airlines was up 3.51 percent. United Airlines, meanwhile, closed with a rise of 4.30 percent.
The Dow Jones closed up 1.91 percent at 28,302.21.
Tech giant Apple and rival Microsoft closed up 1.70 and 1.90 percent, respectively.
The high-tech Nasdaq, on the other hand, was up 1.88 percent to 11,364.60.
Facebook fell 0.21 percent, while Amazon was up 3.09 percent.
Streaming giant Netflix closed with a significant 5.69 percent, while Google owner Alphabet finished with 0.56 percent.
Electric car giant Tesla gained 2.37 percent. According to an internal email to which Reuters has been given access, the company says it will comfortably meet the goal of producing 500,000 cars by 2020, a goal set in January.
Tesla CEO Elon Musk e-mails employees that it all comes down to what they manage to produce in the fourth quarter of the year.
In the third quarter, the company delivered 139,300 new cars and is 182,000 cars away from this year’s goal.
Fear, gold, oil and interest
The VIX, popularly known as the fear index, fell 4.34 percent to 28.20 points.
The price of gold fell at the close of 1,866.50 dollars, 1.06 percent.
At closing time, North Sea oil was up 0.45 percent at $ 42.08 per. barrels, and US light oil rose 0.51 percent to $ 40.01 a barrel.
The 10-year rose 3.2 basis points to 0.789 percent.
