Trump Economic Stimulus Sends Stock Markets Higher

• The financial markets spiked today after yesterday’s Dow 1,300 plunge
• The equity markets have lost all of the gains made since President Trump’s inauguration
• Today’s Dow Jones Industrial Average closed higher breaking the 20,000 marks
• Wall Street took the Trump Economic Stimulus News as a positive sending all market indices higher
• In the meantime, death tolls and new cases of the coronavirus have been climbing
• All 50 states now reported cases of the virus
• The Trump Administration has been having multiple news conferences daily
• Trumps keeps Americans informed on their progress in combating this horrific contagious virus
• Many governors and mayors have been declaring a state of emergencies for their citizens
• Governors and mayors are shutting down restaurants, bars, and other public places
• Many business owners and company CEO’s have issued their own policies in sending workers home
• Unfortunately, the mortgage markets are in chaos
• Both homebuyers and homeowners are having trouble locking their loans, scheduling appraisals and closings
• The Dow Jones Futures are trading lower during aftermarket trading
• This often signals the stock markets will open lower tomorrow

In this breaking news article, we will discuss and cover how the Trump Economic Stimulus Sends Stock Markets Higher.

Markets After Trump Economic Stimulus News

Fears of a recession were the talk in town on Wall Street today.

• The Trump Economic Stimulus package concerned many investors about heightened risk of recession
• The White House announced they will provide aid to businesses and individual Americans and their families during the coronavirus pandemic crisis
• Anywhere between $1,000 to $2,000 of Trump Economic Stimulus money will be sent to Americans as early as three weeks
• A $1.0 trillion stimulus economic package is in the works to help businesses with emergency loans
• The stimulus package includes assistance for Americans and their families
• Included are tax credit credits for employees on sick leave and to boost unemployment benefits and food stamps
• The Federal Reserve Board did its part by pumping money into the economy to stabilize and stimulate it
• The Federal Reserve Board has poured more than a trillion dollars in the financial markets to trigger lending and liquidity worries.
• The Dow Jones closed at 20,087.40 or up 188 points (1.0%)
• The S&P 500 bumped up 0.5% to close at 2,409.44
• The Nasdaq Composite closed down 2.3% at 7,150.58

Fears of a recession that may be worse than the 2008 financial crisis triggered more fear in the markets.

US Economy And Going Forward

The unfortunate part about the coronavirus pandemic is nobody knows how long this will last.

• It is really affecting the housing markets
• Many lenders are in chaos
• Some lenders are in fear and panic
• This is due to potential liquidity issues that are arising
• Some have completely stopped taking new mortgage applications
• Other lenders are not allowing loan officers to lock loans until the borrower received a clear to close
• Lenders are charging huge loan level pricing adjustments that it is ridiculous
• Although mortgage rates have been in the historic low territory, lenders are increasing rates for non-prime borrowers
• Unemployment insurance claims were released this morning and it was not good news
• The coronavirus pandemic definitely took a toll on the US economy
• Jobless claims skyrocketed by 70,000 to 281,000 in the week ended March 14
• This is the highest number in the past two years
• It went far above and beyond the estimated 220,000 claims
• The claims did not include the claims that were made after many cities have issued a state of emergency in closing businesses
• Many economists are concerned about how much harder it affected the US economy than it was originally estimated
• The second-quarter GDP data is expected to be bad
• Unemployment is expected to drop. However, there may be a light at the end of the tunnel

Many Democrats who were anti-Trumpers are now cooperating with the President in getting America back in track.