(Updated) President Trump Declares a State of Emergency… Press Conference Restores Confidence… Stocks Soar

Just moments ago President Trump, speaking from the Rose Garden, declared a state of emergency to expand his weapons in the war against the Coronavirus.

The declaration immediately frees $50 Billion to be used for emergency funding to hospitals, first responders, and state and local health departments.

Perhaps more importantly, the declaration gives Trump’s team broad latitude to ignore restrictions and regulations so that the time required to develop a vaccine and treatments can be shortened.

As the president was speaking, the DOW, that had been hovering between a gain of 750-950 points, immediately vaulted to a gain of 1985 points for the day.

This is a breaking story that we will update as warranted…

(UPDATE) President Trump announced he was ordering the immediate refilling of strategic oil stockpiles that will serve a dual purpose of putting a floor under sagging oil prices and allow the purchases to be made at highly favorable prices.