President Trump's announcements cheered Wall Street after index suffered its worst day of trading since 1987. FMTNews Politics Economy Covid19 Coronavirus
US President Donald Trump’s announcements cheered Wall Street after it suffered its worst trading day since 1987.
Trump’s speech cheered Wall Street and sent the Dow up 9.3%, much needed good news after a week that saw the index suffer its worst day of trading since 1987 and the Federal Reserve inject US$1.5 trillion into money markets to keep the financial system running. “We’re going to fill it right up to the top, saving the American taxpayer billions and billions of dollars,” Trump said, but gave no specific amount or timing for the oil purchase. The SPR most recently held 635 million barrels of its capacity of 713.5 million.
Separately, the president said he asked major cruise lines to halt trips from US ports for the next 30 days following coronavirus outbreaks on several vessels.Pelosi said the House proposal would make coronavirus testing free and expand paid sick leave and unemployment insurance, the kinds of safety nets many Americans lack that experts fear could lead them to spread the virus by going to work.
He called on states to partner with the private sector to further improve diagnoses and set up drive-through testing sites at hospitals.
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