Stocks Pop as Trump Drops “Buy Now” Like It’s Hot
Trump’s Trade Triumphs and Tax Teasers Send Stocks Skyrocketing
Buckle up, Wall Street—President Donald Trump just lit a match under the stock market, and it’s burning bright. On Thursday, the commander-in-chief swaggered into the Oval Office and delivered a directive that sent traders into a tizzy: “Go out and buy stock now.” The spark? A freshly inked trade deal with the United Kingdom, the first major pact since Trump’s reciprocal tariffs shook global markets like a martini in April. The result was pure Wall Street adrenaline: the S&P 500 rocketed 1.47% to 5,713.86, the Nasdaq Composite leapt 1.91% to 18,076.31, and the Dow Jones Industrial Average muscled up 1.50% to 41,732.09. It was a day when the bulls ran wild, and the bears didn’t stand a chance.
Trump, ever the showman, didn’t stop at trade triumphs. Flanked by the Resolute Desk, he dangled the prospect of tax cuts so massive they’d make history blush. “We have a lot of support for that bill,” he crowed, predicting that pairing these cuts with his trade deals would launch the U.S. economy “like a rocket ship that goes straight up.” It’s classic Trump—bold, brash, and banking on his knack for rallying markets with sheer bravado. The UK deal, a coup for American farmers, promises to flood British markets with U.S. beef and ethanol, potentially funneling billions into the heartland. For a president who thrives on big wins, this was a victory lap with a megaphone.
But the shadow of China loomed large, as it always does. Trump teased the possibility of easing tariffs on Chinese goods, contingent on productive talks in Switzerland. The market, ever sensitive to the U.S.-China trade tango, held its breath. Justin Wolfers, the University of Michigan’s sharp-tongued economics guru, took to X with a quip that cut through the noise: “There’s one trade deal that would make a really big difference, and that’s removing the effective embargo on trade with China. Right now, there’s a lot of middle school cafeteria energy, and for some reason, that’s not getting it done.” Ouch. If Trump can pull off a détente with Beijing, Wall Street might just throw him a parade.
Not everyone escaped Trump’s ire, though. Federal Reserve Chair Jerome Powell, the president’s favorite punching bag, caught another haymaker. Trump slammed Powell as a “fool” for dragging his feet on rate cuts, even as the Fed held interest rates steady. The central bank’s caution has stoked fears of stagflation—that economic boogeyman where inflation soars while growth stalls. It’s a rare beast, but one that could send shivers through markets if it rears its head. For now, traders are left parsing Trump’s taunts against Powell’s poker face, with no clear winner in sight.
The market’s mood swings didn’t stop at macro drama. Individual stocks rode their own rollercoasters. AppLovin Corporation was the day’s darling, soaring 12.5% after a quarterly report that had investors swooning. Fortinet, on the other hand, took a beating, plunging 8% after guidance that left Wall Street cold. Meanwhile, the bond market joined the chaos, with investors dumping Treasuries like hot potatoes. The 10-year yield spiked to 4.35%, and the 2-year yield, ever the canary in the coal mine, hit 3.90%. It was a stark reminder that even in a bull run, nerves are never far from fraying.
This is the Trump era in a nutshell: a high-octane cocktail of optimism, uncertainty, and unrelenting spectacle. His call to “buy stock now” wasn’t just a suggestion—it was a gauntlet thrown at the feet of every trader, analyst, and armchair investor. As trade deals reshape the global chessboard, tax cuts loom on the horizon, and the Fed plays its cautious hand, Wall Street finds itself surfing a wave of volatility that’s as exhilarating as it is unnerving. One thing’s for sure: with Trump at the helm, the market’s rocket ship is fueled up and ready to soar—or crash spectacularly. Either way, it’s one hell of a ride.