The DOW Jones ended the trading day at its best since 1933. With a relief package looking increasingly likely, after Democrats on Capitol Hill torpedoed the bipartisan package put together over the weekend, optimism is on the upswing.
The Dow had its best day since 1933, jumping more than 11% https://t.co/NrdrB9nSjn— The Wall Street Journal (@WSJ) March 24, 2020
DOW rebounds more than 11% in best day since 1933 as Congress is working on coronavirus stimulus deal— Henry Rodgers (@henryrodgersdc) March 24, 2020
This uptick is the market's response to the promise of a relief package, which will hopefully head to President Trump's desk soon. The delay in producing a relief package is largely attributed to partisan gridlock, even after leadership from both parties spent the weekend co-authoring a package.
President Trump and his task force also instill confidence in the American people with daily briefings, or in today’s case a virtual town hall. The American people appear to resonate with the Trump Administration’s handling of COVID-19 as a global health pandemic, per Gallup’s latest polling:
Gallup: Trump's approval back to 49%, up from 44% earlier this month and matching the highest rating of his presidency; 60% approve of his handling of coronavirus, 38% disapprove. https://t.co/fVBDVx5wqU— Michael C. Bender (@MichaelCBender) March 24, 2020
Gallup: Trump job approval soars 12 net points to 49-45, the best net approval of his entire presidency.— Josh Jordan (@NumbersMuncher) March 24, 2020
His approval by party:
Republicans 92 (+1)
Independents 43 (+8)
Democrats 13 (+6)
60% of Americans approve of his handling of coronavirus against 38% who do not. pic.twitter.com/wTth3T7lDY
A market upswing of this stature during a health epidemic is undoubtedly a good sign for Americans feeling economic distress.