Stock Market Today: White House Flip-Flop Sends Stocks Higher

Stimulus hopes were resuscitated Tuesday evening, mere hours after they were dashed, prompting a strong Wednesday rebound in the major stock indices.

basketball bouncing off the ground
(Image credit: Getty Images)

If your neck is aching right now, it's likely from keeping up with the back-and-forth fate of COVID stimulus talks, which are changing literally every few hours at this point.

We reported Tuesday that President Donald Trump directed his team to pull out of negotiations, effectively killing any hopes of stimulus before the Nov. 3 elections. An afternoon market drop and just a few hours of surprised conjecture later, Trump pulled a 180, calling for more of a piecemeal strategy and saying he'd be ready to sign a standalone bill for stimulus checks "right now."

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Disclaimer

Kyle Woodley was long AMZN and LUV, as well as CRM call options, as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.


Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 


You can check out his thoughts on the markets (and more) at @KyleWoodley.