Trump — I will veto the stimulus bill…

[tsptalk]

Breaking — Message From President Trump — ‘I will veto the stimulus bill’…

https://www.foxnews.com/politics/trump-threatens-to-veto-massive-covid-bill

 

[nnuut]

GOOD!

 

[rktect1]

I didn’t get a check last time nor will I this time.

 

[tsptalk]

The futures tanked on the headlines, but started to bounce back when they heard Trump wanted to increase the check sizes. Maybe that Jupiter / Saturn thing did something because Pelosi and Schumer agreed.

It should be an interesting day of trading -- news we don't usually get during quiet Christmas weeks.

Trying to keep this about the stock market.

 

[Bullitt]

Seems markets are saying, hey, we'd rather see $2,000 than $600, but a veto brings a whole slew of additional problems.

I'm very skeptical of this money going to schools. It makes no sense.

 

[tsptalk]

It sounds like it is more than about just the $600 to $2000 number. It's the pork that could also stop it.

Seeing how the sausage is made is not fun. Bring a bucket. uke:

https://www.youtube.com/watch?v=1xglRa5WNrU

 

[tsptalk]

He did veto the defense bill, and whether coincidence or not, stocks tumbled into the close - large caps, anyway.

 

[nasa1974]

He did veto the defense bill, and whether coincidence or not, stocks tumbled into the close - large caps, anyway.

The House and Senate have the numbers to override the veto.

 

[tsptalk]

The House and Senate have the numbers to override the veto.

So the S&P should pop back up tomorrow?

 

[nasa1974]

So the S&P should pop back up tomorrow?

Hope so. But the House and Senate won't be back until early next week and they have to override the veto on the defense budget, have the Covid relief bill signed and pass the2021 budget before the extension expires. The good news is we have two vaccines available and the Ohio Governor said phase two can include 65 and older for the vaccine. That's good news for me.