Live updates: U.S. stocks surge on hopes that a stimulus deal is imminent

[BumRushDaShow]

Source: Washington Post

U.S. markets soared Tuesday as investors eagerly awaited word on a $2 trillion stimulus agreement between the Senate and White House aimed at rescuing the nation’s economy, businesses and individuals alike.

The Dow Jones Industrial average opened up more than 1,000 points, wiping away Monday’s losses. The Standard & Poor’s 500 and Nasdaq composites also posted 5 percent gains. In futures trading, the indexes hit 5 percent “limit up” levels, meaning they could not trade beyond that point. That was a swift turnaround from Monday, when markets tanked as the Senate twice failed to advance the stimulus bill.

Late Monday night, Senate leadership and the Trump administration came closer on emergency stimulus bill after a day of fiery exchanges on the Senate floor. As negotiations wrapped up just before midnight, Senate Minority Leader Charles E. Schumer (D-N.Y.) and Treasury Secretary Steven Mnuchin signaled that an agreement could come as soon as Tuesday morning.

Though some details are in flux, the legislation would provide direct payments of $1,200 to many American adults and another $500 for children. It would also create roughly $850 billion in loan and assistance programs for businesses, states and cities and increase spending for the unemployment insurance program, as well as hospitals and health-care providers.

Read more: https://www.washingtonpost.com/business/2020/03/24/coronavirus-markets-economy-live-updates/

[True Blue American]

1. Surged all the way

To 19,788!

[ProfessorGAC]

2. We Shall See

These are the same people who ran it up for 2 months b4 it was president yet. And continued it as too many major firms ran up huge debt loads.
Their judgment is not rehabilitated just yet.

[Yavin4]

3. Sucker's rally

Run it up. Hope to pull in suckers, and they sell before the next inevitable plunge.

[Sugar Smack]

4. Whatever happened to surging on confidence?

[yaesu]

5. if the Fed handed me a blank check I would party like its 1999 also. nt

[Baclava]

6. Where's my check? Where's my check? Where's my check?

[Thekaspervote]

7. Ummm...senate and the dotard? What happened to the house, as if they don't have a say

Speaker Pelosi isn’t falling for their “let’s bail out the corporations” bull crap.

[BumRushDaShow]

9. Plus

the "power of the purse" resides with the House, NOT the Senate. So whatever modified version of a money bill that might come out of the Senate MUST be renamed and shoe-horned into a House bill to make it appear to come from the House. Of course Turtle relies on the populace's AND the media's civics ignorance to promote the nonsensical GOP talking points.

[captain jack]

8. CEO's pissing themselves waiting for socialism to save them. Again. n/t

[Rube Icon]

10. Hope Springs Eternal

that said stimulus will have lots of unearned money for Wall St. Greedmongers.