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Stock rose on Thursday, as investors cheered the resiliency of a U.S. economy that created nearly 5 million jobs last month in the throes of the raging coronavirus pandemic.
The U.S. economy added a greater than expected number of payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. The net additions in payrolls topped consensus expectations, and far exceeded ADP’s private payrolls data on Wednesday, which logged a gain of over 2.3 million jobs.
Although new unemployment insurance claims were higher than expectations, investors shrugged off the report in favor of the boom of workers returning to the labor force.
On Wednesday, Wall Street ended July’s first trading day and the third quarter on a positive note, as Pfizer’s (PFE) coronavirus vaccine candidate showing progress in a trial phase — and the Federal Reserve’s pledge to keep the monetary spigots open “for years” — sent the Nasdaq Composite to a record close.
A broad rally in tech stocks carried Amazon (AMZN), Netflix (NFLX) Tesla (TSLA) and Microsoft (MSFT) to new record highs, with those companies riding the momentum of business models that are mostly perceived as coronavirus-proof.
Still, record-breaking surges in coronavirus infections are overshadowing market psychology, and setting the tone for the start of the second half of a turbulent year.
New York City on Wednesday joined New Jersey in postponing plans to reopen indoor dining, with cases outside the Tri-state area skyrocketing. Meanwhile, a spike in California’s infections reportedly prompted the state to shutter indoor activities, including dining, to mitigate the spread.
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President Trump’s Revenge Against The Fed
He’s called them “crazy,” “out of control,” and “far too aggressive.”
Top economist Stephen Moore even went so far to suggest they (the Federal Reserve) should be “fired for malpractice.”
Because despite keeping rates near zero under Obama’s entire eight-year term…
The Fed hiked rates six times since Trump took office. Even though inflation has been hovering within 0.1% of their target.
Thanks to the Feds actions, over $2 trillion was wiped out from the stock market, almost overnight.
But now, the President is having his revenge.
And it could make early investors very rich, regardless of what stunt the Fed (or any of Trump’s enemies) try to pull.
That’s according to Teeka Tiwari, former vice president at one of Wall Street’s top investment firms.
Since President Trump took office, Teekas recommendations have averaged total gains of 635.35%.
People who followed his guidance saw their investments skyrocket 972%… 2,050%… even 11,004%.
And now, thanks to President Trump’s coming revenge against the Fed… Teeka has identified a dozen little-known companies set to grab the lion’s share of a $2.6 trillion dollar tidal wave about to be unleashed on the market.
This is not for everyone.
But if this plays out as history proves it can, early investors stand a real shot of turning $250 into an absolute fortune.