Today’s notice: Who needs a Bloomberg Terminal when there’s Truth Social? The Freedom Caucus strikes again. And Dems running against Schumer is the new Dems running against Pelosi.
About That ‘Be Cool’ Post…
Wednesday morning, three minutes after the NYSE opened for trading amid fears of a recession triggered by Donald Trump’s massive global tariff program, the president took to Truth Social to urge investors to “BE COOL.” A few minutes after that, he posted, “THIS IS A GREAT TIME TO BUY!!! DJT.” Shares of his media company, which trades under the symbol DJT, rose a lot, but the rest of the market kinda puttered along.
It turns out that it was in fact a really great time to buy. At 1:18 p.m., Trump posted that the tariff program above the new 10% baseline was on pause for 90 days (except for China). The Dow shot up like a rocket, though it still closed around 6% lower than it was on Inauguration Day.