The stock market ticked up with Wednesday’s market open as investors reacted to President Trump’s pledged support for additional stimulus checks and a bailout for airlines and small businesses late Tuesday.
The Dow Jones industrial average opened up nearly 333 points, or almost 1.2 percent. The S&P 500 index opened up almost 41 points, or 1.2 percent, while the tech-heavy Nasdaq composite was up about 148 points, or 1.3 percent.
The market saw a raucous trading session leading up to Tuesday’s closing bell after Trump announced via Twitter that he would push back negotiations for congressional stimulus aid until after the Nov. 3 presidential election. But he walked back some of that claim later, saying he would immediately sign bills to distribute an additional $1,200 stimulus check to Americans and a deal for $25 billion to support airlines and $135 billion for the Paycheck Protection Program to boost small businesses.
“Have this money,” Trump said in one of the tweets just before 10 p.m. “I will sign now!”
Analysts and investors have been closely following the roller coaster of promises and delays for the next potential stimulus bailout, hoping that the aid would boost the economy and struggling Americans navigating unemployment, eviction and food insecurity wrought by the coronavirus pandemic.