Stocks rip higher at the open after Trump floats payroll-tax cut

[turbinetree]

Source: Market Watch

Published: March 10, 2020 at 9:40 a.m. ET
By William Watts and Andrea Riquier

Markets attempt rebound after brutal Monday selloff

U.S. stocks opened sharply higher Tuesday, pointing to a partial rebound from Wall Street's worst selloff since 2008, on hopes for fiscal stimulus measures from Washington aimed at helping alleviate the strain and uncertainty surrounding the COVID-19 epidemic.

A Tuesday rebound would not be unusual -- Bespoke Investment Group strategists found that in the 10 previous times since 1952 that the S&P 500 fell 5% or more on a Monday, the index has gained the following day, by an average of 4.2%.

Read more: https://www.marketwatch.com/story/after-a-brutal-day-stock-futures-gain-after-trump-floats-cuts-to-payroll-taxes-2020-03-09?mod=home-page

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I don't want a payroll relief especially from this asshole and his criminal enterprise...................... I want a relief from my mortgage payment or renters payment for the middle class and the poor.......................I bailed these assholes out and then in 2017 the public got a 1.5 trillion tax scam, whereby we basically got fucked in property and mortgage payments being limited to 10,000 dollars......................Fuck this bullshit.................how about credit card payment suspensions also.....................some credit card holders are having 16% interest payments......................fuck this bullshit....................while they go to the fed and get that bond rate:

Treasury Yields
Name Coupon Yield
GT2:GOV 2 Year 1.13 0.41%
GT5:GOV 5 Year 1.13 0.53%
GT10:GOV 10 Year 1.50 0.63%
GT30:GOV 30 Year 2.00 1.10%.................................................

mad:

All this is a bait and switch scam...................to fuck social security and the medicare FICA requirement...................

Really tired of this shit sandwich they keep trying to hand down......................

[Miguelito Loveless]

1. So, the answer to a pandemic,

which is going to cost hundreds of billions of dollars, is to deprive the government of more revenue AND encourage people to go out and spend?

[turbinetree]

4. All he is doing is trying to do is a bait and switch................to save his ass...........and

his republican enablers, and the corporations that got the bailed out...............stopping to pay social security and medicare payments, while at the same time giving corporations Relief.........BS.............he gutted the agency to prevent this thing, and now he thinks payroll relief is going to solve it..........................BS......................and now the Southwest CEO is going to take 10% pay cut...................whoppie f***ing do......................

[IronLionZion]

6. And cut funding for public health and CDC

sacrifices must be made

[BlueJac]

2. Big mistake

Another foolish idea! Stop the madness!

[OneBro]

3. The Plunge Protection Team .

Likely the Plunge Protection Team using a limitless credit card.

[DinahMoeHum]

5. Methinks this is only a one-day rally. . .

. . .until the knives fall further.

While I'm taking a hit in my portfolios (on paper), I'm staying on the sidelines until things settle down.

[IronLionZion]

7. Yeah, I think it will go down more

whatever stimulus they come up with won't solve the major problems of the pandemic or fix the broken supply lines. Looks like we're in for a global recession.

[earthside]

8. The Wrong Solution!

The problem is COVID-19, not the stock market!
Offer strong, effective solutions to the coronavirus pandemic and the financial sector will right itself.

Trump and his elitist followers are more concerned about their stock portfolios than about our health safety.
We don't need a tax cut, we need solid medically scientific plans, wide testing, and protection of jobs for regular folks affected by the illness.

[safeinOhio]

9. I could be wrong, but

SS payroll taxes, doesn't the businesses pay an equal amount as the employ? So, this amounts to a big tax break for business. Talk me down.

[bucolic_frolic]

10. Stocks turn south 11:30AM, The oil shakeout is a very big deal

Foreign actors flooding the market to whack our frackers. Many - many - may well go bankrupt.

The Trump White House is painting this as COVID-19 fallout. Nonsense. Think of the payrolls to be trimmed with the oil patch fallout. That ripples into consumer spending, and THERE it meets COVID-19. People avoid public events, restaurants. Flu is spread like a flu. Airborne as well as touch. It's all just beginning. Look at the cancellations. Colleges pulling into digital classes. Remotely. Hospitals in full prep mode.

We are in for tough times. Unless something changes favorably with the seasons, a mutation, or all these measures bite hard, we are in for it. Oh, and mutations? What if it become more virulent instead of less?

[jayfish]

11. Even If This "Idea" Were Real;...

there will be no tax cut for the 99%. There will be a deferment of payroll taxes until you file in 2021. Then... SURPRISE!

[rwsanders]

15. At least Bush tried to buy our votes with real money. This is just a scam.

[PatSeg]

12. They are giving Trump far too much credit

When the markets go that low, there is bound to be a correction, though probably very temporary. Trump's payroll tax relief could hardly cause such a reversal, but he'll milk it for all its worth.

As a rule, stocks can only go so low, before perceptive investors will take advantage of the low prices and buy back in and often buy big.

[Javaman]

13. it's been struggling up, then down, now back up a bit...

I have a feeling that the orange assholes money'd friends are trying their best to goose the market.

[BumRushDaShow]

14. Early this morning the Dow futures were up well over 1000

but right now the Dow is only +68. EDIT - right when I was about to post, it just dropped to +21 then shot up to +141. Big difference but very volatile at the moment!

[Warpy]

16. Businessmen are suckers for Republican flim flam every time

I doubt that's why the market is up. I think yesterday's fall off a cliff brought out the bargain hunters.

I have some shopping money, but I don't think the market has quite bottomed out..