A few weeks ago I was lucky enough to pick up a copy of the New York Times — yes the “failing N.Y. Times” that is surprisingly stronger than ever, despite what the grouper-faced groper says.
As luck would have it, there was an article in the Business section that recapped a rare recent great day on the New York Stock Exchange the previous day — Friday the 13th. An article by Matt Phillips on the front page of that section opened with the observation that, “The stock market roared back to life on Friday, with the S&P surging 9.3 percent.”
The article continues: “The market was up throughout the day, then dipped when the President started to speak” — referencing a late afternoon press conference by Trump, and a supporting cast of medical professionals and executives of some of the largest companies in the U.S., including Walmart, CVS, Target, and testing companies Lab Corp and Quest.
The leaders of these companies, Trump said, had agreed to help with efforts to test people for the coronavirus. And, as each executive spoke, the market climbed a little higher, starting around 3:34 p.m. However, “When Trump started talking the market went down, and it was like a repeat of his Oval Office address,” observed William Delwiche, an investment strategist at Baird, a financial firm based in Milwaukee.
Phillips continues, “On Friday stocks started turning in a hurry once the president yielded the podium to public health doctors and business leaders,” Mr. Delwiche said. “It’s doctors being leaders and business people being leaders”.
So, I’ve drawn my own conclusions from this. What are yours? Leaders and professionals/experts are pretty clearly held in high regard and trusted. Amateur presidents, not so much.
Falls Church, Va.