Skip to comments.Dow surges 800 points after Powell comments, blowout jobs report
Posted on 01/04/2019 10:17:27 AM PST by abb
Stocks rallied on Friday after two positive pieces of news for the market.
At 8:30 a.m., the Labor Department said the U.S. economy added 312,000 jobs in December. That blew past an expectation of 176,000 jobs. Later on Friday morning, Federal Reserve Chairman Jerome Powell said the central bank will be patient in raising rates, quelling fears of tighter monetary policy in the near future.
The Dow Jones Industrial Average rose 800 points, or 3.5 percent. The S&P 500 rallied 3.5 percent, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.3 percent. This was a rebound from Thursdays plunge, which was triggered by a massive drop in Apples stock.
Stocks took off after Powell hinted the central bank could pause its rate hikes, something this beaten-down market was waiting for. As always, there is no preset path for policy, Powell said. And particularly with muted inflation readings that weve seen coming in, we will be patient as we watch to see how the economy evolves.
(Excerpt) Read more at cnbc.com ...
Can you ping me and let me know when low and high are?
...and right on cue, there’s an article over at Marketwatch calling this “panic-like buying.”
6,000 new jobs per State. Yes, yes, I know. But thats an incredible number.
Will Rogers had the best technique I’ve been able to find.
“Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”
Their was one month under BHO where jobs saved or created was something like 2000 in a month. That was 40 per state. I could name 4 cities in MI....
Good, with little inflation it makes sense for a pause that refreshes.
PMS are holding their own, too - even after a big sell-off this week.
2019 is supposed to be the year Gold breaks $1,360.00/oz. We shall see! MAGA! :)
What really made me laugh was this clown ..or should I say self-proclaimed EXPERT was inferring that if Powell of the federal reserve doesn’t follow through with his predicted two rate hikes in 2019 that real damage could be done . He said “Its simple physics ! A body in motion stays in motion and a body at rest stays at rest” I found that to be an absurd analogy in regard to monetary policy .
The Nation is being held hostage by this bastard Powell. Fire this punk he cost the economy billions with his unjustified meddling.
* We have gobs of energy, we are extracting it and selling it
* The tax laws will not change for quite a while even if they "Impeach"
* Restraint of the 13 cabinets especially with those related to energy will not change if they "Impeach".
* China? Who cares, we are making stuff here again, they are a false house of cards with fake cities etc, let them implode.
* Markets love grid lock. Welcomed to gridlock.
* We are getting out of wars and theaters, not in them.
Other than the Fed being a PIA ( BTW they talk to titans of industry all the time and POTUS, they don't live in a vaccum).
*Sadly I think we could grow @ 5%+, w/ Pelosi and no wall we will be stuck @ 3%+ right now. IMHO illegals are sucking 2% GDP out of our system. Poland is @ 5% w/ a tax policy no where near as good as ours, and they let no one in and they are growing @ 5.1%.....
Powell is pissing his pants because Trump has him cornered.
“Really folks, I had no intention to crash the economy...”
If we can ever get to 4-5% growth, do that for a while and get a handle on spending...we might be able to fight off the specter of debt disaster. Granted, we would need to do that for more than a few years, but...what is the choice?
I don’t think I like the other choices.
Dow surges 800 points after Powell comments, blowout jobs report.
And still the communist press and their congressional allies castigate Trump. Absolutely revolting.
Powell is Deep State scum. He is setting up a sucker punch to wreck the US economy, hurt President Trump, and help his socialist/Marxist/Demscum (but I repeat myself) elite buddies. He is a self-interested traitor who wants nothing good for America. Anyone who believes anything this puke says is a fool.
As always, there is no preset path for policy, Powell said.”
In other words, “the President whacked my pee pee real good!”
“Blowout’ and ‘Jobs’ should be rarely used in same sentence..................
Exactly! Trump cornered him two months ago. He knows what he's doing.
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