- Flickr via keoni101
Trump sided with the Democrats to support a three-month extension on government funding, a three-month debt-limit increase, and a Hurricane Harvey relief package.
Republican leaders were reportedly furious, but the markets were happy. All three major indices rose on Wednesday.
The S&P 500 was the biggest winner, gaining 0.32%.
And now, the scoreboard:
- Dow: 21,807.64, +54.33, (+0.26%) S&P 500: 2,465.54, +7.69, (+0.31%) Nasdaq: 6,393.31, +17.74, (+0.28%)
Trump just sided with Democrats on a massive deal to solve Congress’ biggest issues. The issues were mainly kicked down the road and will have to be discussed again in December. There’s a divide in how traders are prepping for a debt-ceiling showdown. Even though investors can breathe easy for now, the same issues are on the calendar to resurface at the end of the year. The Bank of Canada surprises with a rate hike. The bank cited better than expected economic data as it raised rates to 1.00%. The high price of the iPhone 8 is likely out of Apple’s control. The cost of new components in the iPhone 8 might put the phone out of reach for some consumers. Fed Vice Chairman Stanley Fischer resigned. Fischer on Wednesday cited “personal reasons” for his decision in a letter to President Donald Trump. A company that’s trying to teach millennial ‘noobies’ how to invest is growing like crazy. StockTwits’ new CEO wants to raise the next generation of investors.