Trump keeps throwing money!

    U.S. President Donald Trump signed a $484 billion economic relief package that will boost funding for a small business loan program, hospitals, and coronavirus testing on Friday. Trump said that the bill would provide ‘significant’ help to American families.

    The bill would provide additional funding for the Small Business Paycheck Protection Program and provide funding for hospitals and virus testing. The House also took a measure to create a special subcommittee to oversee spending.

 

    Affected by this news, the three major stock indexes all closed more than 1% on Friday. As of the close, the Dow rose 260.01 points to 23775.27, an increase of 1.11%; the Nasdaq rose 139.77 points to 8634.52, an increase of 1.65%; the S&P 500 rose 38.94 points to 2836.74, an increase of 1.39%. The five sectors that led the gains were: auto retail rose 6.91%; food distribution rose 6.5%; auto rose 4.89%; home improvement retail rose 4.76%; construction machinery rose 4.21%.

So far, the US Congress has approved a total of nearly 3 trillion US dollars of economic stimulus measures and is studying for a new round of bailout bills. Although Trump keeps throwing money repeatedly, it feels like the medicine is wrong, companies are still falling into bankruptcy, the number of unemployed is rising, and US stocks are still falling...