Trump Celebrates “Market Up Big” As S&P Surges Back Above 3,000; Shrugs Off Vaccine Disappointment

For the first time since early March, the S&P 500 is back above 3,000 as headlines about pharma firm mergers, anti-viral hype, and phase 1 vaccine trial starts trump the utter disappointment of remdesivir (the previous holy grail reason to buy stocks).

President Trump is excited to say the least…

Stock Market up BIG, DOW crosses 25,000. S&P 500 over 3000. States should open up ASAP. The Transition to Greatness has started, ahead of schedule. There will be ups and downs, but next year will be one of the best ever!

— Donald J. Trump (@realDonaldTrump) May 26, 2020

The S&P valuation is now back near record highs…

As earnings expectations continue to collapse…

Don’t be a bagholder.