NEW YORK (AP) — Stocks are recovering Wednesday after President Donald Trump appeared to backtrack on his decision to halt talks on another rescue effort for the economy. The S&P 500 rose 1.3% in morning trading after Trump sent a series of tweets saying he’s open to sending out $1,200 payments to Americans, as well as limited programs to help airlines and small businesses. The tweets late Tuesday came just hours after Trump sent the market into a tailspin with his declaration to halt talks on a stimulus effort until after the election. Airlines and other stocks that most need the economy to strengthen lead the way.
The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!
— Donald J. Trump (@realDonaldTrump) October 7, 2020
