S&P 500 (VOO) Live Market Update: Trump-Fueled Stock Rally Continues to Stock Market Higher

So how are we enjoying the rollercoaster today? After plunging nearly 1,000 points on Monday, then surging back more than 1,000 points on Tuesday, the Dow Jones Industrial Average continued rising as markets reopened on Wednesday, and other stock market indices are glowing a similarly pleasant shade of green. Investors seem encouraged by President Trump’s reversal of opinion yesterday, when he reassured he has “no intention” of firing Fed Chairman Jerome Powell. They’re also taking to heart his promise that tariffs on Chinese imports, currently set at 145%, will eventually come down “substantially” and will end up not “anywhere near that high.”

Here’s how major market indices are performing so far:

Dow Jones Industrial Average: Up 2.2%.

Nasdaq Composite: Roaring ahead for a 3.6% gain.

S&P 500: Rising 2.7%.

The Vanguard S&P 500 ETF (NYSEARCA: VOO) is also up 2.7%.

Earnings

Earnings reports are coming fast and furious, with dozens of companies reporting already this morning, but not all reports are equally good. Boeing (NYSE: BA) “beat” analyst forecasts by reporting a smaller than expected loss. General Dynamics (NYSE: GD) beat by $0.21 per share, but with a solid profit of $3.66 per share. AT&T (NYSE: T) “missed” its earnings by one cent, but still delivered a $0.51 per share profit. 

Analyst Calls

Wall Street analysts are doing their best to keep up with the news flow and change ratings for their winners and losers, but are struggling. Morgan Stanley rewarded RTX Corporation (NYSE: RTX) for its earnings beat yesterday with an upgrade to overweight. And perhaps spooked by Enphase’s (Nasdaq: ENPH) earnings miss yesterday, the banker cut its rating for both that solar equipment maker, and for its rival SolarEdge (Nasdaq: SEDG) as well.

Both stocks are now rated underweight.

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