Stock market today: S&P 500 ekes out closing record high despite wobble in chips
Investing.com -- During today’s press briefing announcing the signing of the first trade deal with the United Kingdom (TADAWUL:4280), U.S. President Donald Trump told listeners they should buy stocks now.
“You better go out and buy stock now,” Trump said. “Let me tell you, this country will be like a rocket ship that goes straight up.”
“This going to be numbers that nobody’s ever seen before,” Trump added.
Trump commented that an important element to this happening is getting the ‘Big Beautiful Bill’ passed. He said Democrats are fighting it only because they want to fight.
“They have Trump derangement syndrome, you know,” Trump commented. “If it was somebody else, if you had a normal person, if you had some stiff sitting behind you, they’d be fine.”
Trump took a shot at Senator Schumer again, calling him a Palestinian. “I don’t know when they’re going to give him the ceremony, whatever the ceremony may be.”
He added that if the bill passes, the U.S. will do even more business with the UK. “We’ll have so much,” he stated.
So far, investors are heeding the President’s advice. The Dow is up 1.2%, the S&P 500 is up 1.3%, and the Nasdaq is up 1.8%, although much of the gains came ahead of the much-anticipated UK trade deal. Despite the recent stock rally on calming trade tensions, stocks remain down since President Trump’s inauguration on January 20, 2025. The S&P 500, for example, is down about 5% since that time.
An essential element of today’s trade deal and likely future deals is that the U.S. is keeping a 10% base tariff on the UK. Trump added that this 10% base rate will be on the “low end” of what other countries must pay to “shop” in the U.S.