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Dow Rises as Trump Calls for Tax Cut, Covid Spread Slows

Published 08/11/2020, 09:28 AM
Updated 08/11/2020, 11:51 AM
© Reuters.

By Christiana Sciaudone

Investing.com -- U.S. blue chip stocks rose Tuesday after President Donald Trump said he wants to cut capital gains taxes and as the coronavirus spread appears to be slowing.

By 11:49 AM ET (15:49 GMT), the Dow Jones Industrial Average was up 257 points or 0.9%. The S&P 500 was up 0.4%, and the Nasdaq Composite was down 0.1%.

The S&P 500 is close to hitting a record. 

White House officials and top Democratic lawmakers indicated they were ready to resume talks on a coronavirus aid package after Trump signed executive orders that would extend aid that has lapsed, MarketWatch said. 

Trump is behind presumptive Democratic nominee Joe Biden in opinion polls, with a Real Clear Politics survey showing Biden with an almost 7% lead. 

President Vladimir Putin said Russia has approved a Covid-19 vaccine, Bloomberg reported. Production may begin next month, with trials to be completed by January.

Watch Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) today after a California court ordered the companies to classify their drivers as employees, with all the benefits -- which could make business much, much more expensive for the ride-hailing companies.

 

Latest comments

1/3 of total US case deaths occurred in NY, once democrat cuomo stopped his policy of shoving people into elderly homes the US has since had drop of death rates to all time lows and have remained there despite higher cases. the initial high death rates were due to politicians fearmongering and locking down, not the viruses. countries without lockdowns did not have any higher infection or death rates than those without.
True dat
Nonsense. 'Fear mongering' and lock down didn't increase death rates, and implies that you think people somehow 'died of fear'. The fact that a much higher percentage of people getting infected were elderly is what accounts for the initial higher death rates, whereas now there is a much higher percentage of younger, healthier people getting infected.
I think all you Trump haters should sell, sell, sell.. More for me to buy. #MAGA2020
if trump cuts capital gains rates, should be nice for those of us who want to take our profits on this market pump before they pull the rug. 5 stocks market up 20% of the entire market. apple had $50b revenue and now has nearly a $2t market cap
btw that is not anti-trump, just a nice option, retail traders selling wont influence the market in any way
you are a menace. rude rude you are. typical.
Let’s see here....Trump has now single-handedly taken the lives of nearly 170,000 Americans. Projections show this number will at the very least triple before an effective vaccine is distributed to most Americans. Amazon has mastered the distribution function for everyday goods and should be consulted for developing an efficient, cost-effective way to get the vaccine to the most people in the shortest amount of time. Developing a vaccine is by far the easy part. Getting it to the masses is very difficult and tricky.
and he said he is not responsible since he didn't enact any plans to stop the virus so his non existing plans did not have any faults
...yes, it is called herd immunity, the thing democrats had been preventing for months while people like cuomo were kil.ling elderly people by shoving them into crowded nursing homes
You can catch it twice, and people have and are dieing second time round, no such thing as herd immunity
wow, a tax cut for the richest people on earth?
You must not put anything in your 401k and count on social security for your old ages, smart strategy... Btw, simply being american you are a 1% of the world.
Debt debt and more dept... Poor children who will have to pay back the huge pile of debt that we are creating...
When have we ever repaid debt?
 Yah really.  I hear the government gets good prices on mass quantities of ink and paper.
Once again Trump toots his horn and the market dances
DJ higher than the Nasdaq !? Who organize this hold up ?
buy and hold who laughing at this strategy now?
we will see within 2-3 months...
If you were buying and holding on oil and travel I got news for you.  YOU MISSED OUT.
Market higher as vaccine hopes became reallity
Sell the news. All the tech that rallied because it was “virus proof” is gettin rekt.
What a joke market. Let's keep pretending like we're not in the middle of the worst financial crisis in American history. When it burns down, a lot of investors are 'gonna be wishing they were holding gold and silver.
Not with every country doing the same thing. The markets are now based on expectations not reality.
market always price the future not today's situation. After the vaccine this will be over and the market already started to price that as we see gold today.
 yes, future of unlimited debts.
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