Originally posted by Darth Thor
Still panic because of Covid spikes.But the Fed will continue to Put money into the Stock Market, saving investors who will take advantage and sell.
As of March there's been a record 1.1 trillion pumped directly into the market to keep it afloat. This is aside to the trillions already pumped as stimulus.
What happens when the music stops and the average US tax payer is left standing?
Originally posted by Robtard
As of March there's been a record 1.1 trillion pumped directly into the market to keep it afloat. This is aside to the trillions already pumped as stimulus.What happens when the music stops and the average US tax payer is left standing?
Right now, stocks have spiked. It's almost closing bell time and the DOW is up 450. NASDAQ is up 75. S&P is up 30.
I don't really know what's going on.
Originally posted by Robtard
Housing sales data caused this spike. Pending sales are up 44% from April , though still lower by 5% when compared to same time last year.
Stock market fiends really are unpredictable. I guess during normal times, a housing market sag like that would almost crash the stock market.
But due to less than abysmal number for housing sales, the traders appear to have shit themselves in excitement.
I would say tomorrow the market will correct itself but I have no idea how it's going to play out and I don't think even the most genius of traders know what will happen tomorrow, as well.
U.S. stocks cap best quarter in two decades as S&P 500 hits 3,100
U.S. stock indexes finished higher on Tuesday, capping the best quarter for Wall Street in around 20 years, after strong economic data helped to offset concerns around a rising COVID-19 tally in the U.S. The S&P 500 SPX, +1.54% gained 1.5% to 3,100. The Dow Jones Industrial Average DJIA, +0.84% rose 0.9%, or 217 points, to 25,812, based on preliminary numbers. The Nasdaq Composite COMP, +1.87% climbed 1.9% to 10,059. For the month, the S&P is up 1.8%, the Nasdaq gained 6%, and the Dow gained 1.7%. And for the second-quarter, the S&P jumped 18%, the Nasdaq soared 29.4%, and the Dow rose 15.6%. Market participants parsed joint testimony from Powell and Mnuchin about the U.S.'s economic response to the global public health disaster on Tuesday. In economic data, the Case-Shiller house price index rose 4% on an annual basis in April. Meanwhile, the index of consumer confidence rose to 98.1 this month from a revised 85.9 in May.
The NASDAQ continues to hit all time highs.
I was reading last night about predicted job numbers in June being +8 million jobs. Seems the day traders read the same article as Q2 closes out in a near record setting quarter.
While daily deaths from COVID-19 patients continues to decline since the US opened back up in most states, news headlines have been bombarding the American people about the apocalyptic new COVID-19 positive test cases. Businesses and traders just are not buying the news headlines as daily deaths continue to trend down in the US.
S&P 500 is now within 5% of it's all time high in Feb.
Despite COVID-19 cases, the stock market is doing well today.
After some ups and downs last week, this week is starting off with giant gains.
The NASDAQ continues to hit record after record on the daily.
Keep in mind that the top 10%, or even the top 5% of income earners, are the extreme majority beneficiaries of a stock market improvement.
When the stocks go up, the rich get richer and more jobs are created at a ratio of 50 to 1 (meaning, the rich get $50 and the rest get $1 for improvements). When the stocks crash, the rich lose a ton of money and the poor get laid off, big time.
Originally posted by dadudemon
Keep in mind that the top 10%, or even the top 5% of income earners, are the extreme majority beneficiaries of a stock market improvement.
It's what Yang said during the debates (paraphrasing here), you can tout how well the stock market is doing on a given day, but that means nothing to the average voter who isn't invested and is still struggling to feed their children and pay their rent.
Originally posted by Robtard
It's what Yang said during the debates (paraphrasing here), you can tout how well the stock market is doing on a given day, but that means nothing to the average voter who isn't invested and is still struggling to feed their children and pay their rent.
It's why Yang had great ideas.
He had the charisma of a rock and he's not pushy/forceful even a tiny bit.
I'm not all about true socialism (seizing the means of production) but I am about a market that serves the people. Oh, sounds like what most people think is capitalism.
Originally posted by dadudemon
S&P 500 is now within 5% of it's all time high in Feb.Despite COVID-19 cases, the stock market is doing well today.
After some ups and downs last week, this week is starting off with giant gains.
The NASDAQ continues to hit record after record on the daily.
This was the close:
Dow 26,085.80 10.50 0.04%
S&P 500 3,155.22 -29.82 -0.94%
Nasdaq 10,390.84 -226.60 -2.13%
Overall irrelevant gain in the Dow
S&P and Nasdaq had some loses.
Originally posted by Robtard
This was the close:Dow 26,085.80 10.50 0.04%
S&P 500 3,155.22 -29.82 -0.94%
Nasdaq 10,390.84 -226.60 -2.13%Overall irrelevant gain in the Dow
S&P and Nasdaq had some loses.
As of right now,
Dow 26,332.60 246.94
S&P 500 3,161.33 6.11
Nasdaq 10,346.77 -41.75
And energy is way up. I cannot tell why energy decided it was going to explode this morning.
Edit - and it significantly changed while I was typing up my post. Yesterday, during the last 30 minutes, it was insane making huge jumps and drops.
So Moderna shares have obviously gone up today!
And helped to take pretty much all the Markets up.