Trump brags that he has to hold a Rose Garden press conference “ five times a day ” after the Dow gathered to win points when he declared a state of national emergency
- Trump took credit on Saturday for record share growth in late trading on Friday
- Stock indices soared when Trump announced a national emergency
- However, the major indexes are still down more than 20% from last month’s highs
- The fears of the Coronavirus caused Wall Street the biggest losses since Black Monday in 1987
- Trump joked that constant press conferences from him would calm investors
- Coronavirus symptoms: what are they and should you see a doctor?
President Donald Trump took credit for yesterday’s record-breaking stock market rally and joked that he should hold a press conference “ five times a day ” to strengthen markets during the corona virus crisis.
“I was honored to see the stock market, you were there with us most of the time, set a record in a short time, over a 45-minute period that we had the press conference at the Rose Garden yesterday,” Trump told reporters at a briefing on Saturday.
“That was a record. All-time record. I think maybe we should do one every day. What about five times a day? We do one five times a day. ‘
Indeed, the Dow Jones Industrial Average rose more than 1,000 points when Trump held his press conference during the last half hour of trading on Friday.
President Donald Trump earned the honor for yesterday’s record-breaking stock market rally and joked that he should hold a press conference ‘five times a day’ to strengthen the markets
A one-day overview of the Dow shows that the index has risen sharply in the past 30 minutes of trading
The Dow Jones Industrial Average ended at 1,981.48 points, or 9.35 percent, at Friday’s closing clock – the biggest point gain of the indices ever, just one day after Wall Street recorded its worst losses since Black Monday in 1987.
Despite the late rally, the market is still down about 25 percent from mid-February peaks.
Friday, the 13th, concluded one of the wildest weeks in Wall Street history, with the Dow moving up or down more than 1,000 points five days in a row and trading automatically halted twice, triggering when the S&P 500 was down 7 percent fell.
Investors have responded to the rapidly growing economic damage caused by the virus and measures to contain it, as events and sports are canceled and air traffic comes to a standstill.
The market meeting on Friday came in response to Trump’s distress statement, which is putting $ 50 billion in taxpayer dollars into fighting the pandemic.
The Trump press conference also highlighted an approach that will rely heavily on the private sector and is likely to involve an infusion of federal dollars into some of the private partners.
A five-day review of the Dow shows that the index remains low despite Friday’s rally this week
When Trump declared a state of emergency in the Rose Garden (above) on Friday, the stock market rose
US stock indices rose in late trading when President Donald Trump addressed the nation
Shares of Google mom Alphabet, Walmart, Target, and drugstore CVS all closed more than 9%, in line with the broad stock market, when Trump recommended their participation.
“I want to thank Google. Google is helping to develop a website, unlike in the past, it will be done very quickly to determine if a test is warranted and to facilitate testing at a suitable location nearby, ” Trump said.
Verily, a healthcare technology company that is also owned by Alphabet, said it led the effort to develop the web tool, with the help of an undisclosed number of Google employees.
“We are in the early stages of development and plan to run tests in the (San Francisco) Bay Area, hoping to expand more widely over time,” said spokeswoman Kathleen Parkes.
Leading U.S. retailers will partner with the government to help test coronavirus testing, the Retail Industry Leaders Association said. Senior leaders from Walmart, Target, Walgreens Boots Alliance Inc and CVS stood at Trump’s announcement.
The tests are conducted in retail parking lots and sent to laboratories to complete the tests in collaboration with local health departments and diagnostic laboratories. The test locations are not managed by the companies.
Trump is eager to increase testing after efforts were hampered by flawed kits distributed by the Federal Government in February, yielding some false results.