The stock market appears to be calling President Donald Trump’s bluff.
The S&P 500 was steady following three straight days of losses Wednesday, shaking off Trump’s abrupt demand for changes in the Covid-19 relief package. The Dow industrials added 114 points as cyclical sectors, including energy, financials and materials continued their late 2020 comeback.
"It feels like the market is following the rule of 'watch what he does, not what he says' in terms of the President's late night drive-by shooting of the Covid aid package," said Art Hogan, chief market strategist at National Securities. "Odds are there is enough time to tweak the relief legislation enough to get it passed and signed."
