Posted on 03/26/2020 8:49:30 AM PDT by knighthawk
U.S. equity markets clambered higher Thursday as investors digested record jobless claims and waited for the House to vote on a $2 trillion relief package.
First-time unemployment filings surged to a record 3.28 million last week, according to the Labor Department, as the COVID-19 pandemic prompted businesses to temporarily close their doors and lay off employees. The previous record was 695,000, set in 1982.
The all-time high in claims came hours after the Senate voted 96-0, passing the $2 trillion relief package that would extend aid to individuals, small businesses and corporations hit hardest by the pandemic. The House of Representatives is scheduled to debate the bill on Friday.
(Excerpt) Read more at foxbusiness.com ...
Logic ensues panic takes a rest.
All play money, and very little of it is being based on reality.
We are going to rebound like a stretched rubber band. I intend to throw in a few shekels on the low end.
Does anyone know who Priorities, U.S.A. are? They are buying a lot of ads now blaming the Trump administration for not preparing when, just six weeks ago, they were calling him racist and xenophobic for halting flights from China.
We’re down $150...
Getting the country back to work is the answer.
They are passing out black arm bands at CNBC.
I don't think it is play money although my concept of money has changed much in the last 20 years. I haven't solidified that concept enough to describe it.
Share prices should reflect the value of the company. I largely evaded the dot-com bubble with that thinking. I missed quite a few of the survivors though. Sadly that line of thinking has vanished from the market, probably driven out by the derivatives.
A recession is defined as two consecutive quarters of negative growth. We will not have that. We will have negative growth until the lockdowns are over in a few weeks, and then posite grown from then on.
Nothing like wild gyrations in the market to give small investors confidence.
/s
Does this reflect the value of the dow, or does it reflect the value of the dollars after this spending spree?
I think it’s the latter.
Buy low sell high it’s what options are all about,some made a stock (no pun)pile of money.
As long as people’s investments rebound enough that they feel comfortable overpaying for our house when we sell it...I’m happy.
IMO, the market is not out of it yet, and in fact, I think it will take a few years more to recover. The country as well.
Had to go to St. George UT (usually a busy town) so the doc could remove stitches from Wifey’s hand. Nurse at door with a wipe-the-brow-temperature device. In and out in 20 minutes, not many in the office.
Smith’s grocery had cases of water but still no toilet paper, towels or napkins. BIG holes in some shelving, canned and frozen, including odd items like burrito wraps.
Parking lots at the mini-malls where TGIF, Olive Garden, Red Lobster and Chili’s live, as well as the big name buffets are empty. Target and Lowe’s a bit better.
Felt like a hamburger and swung by Culver’s - drive in window only and eight cars in line - forget it.
LIGHT traffic on I-15 coming and going - more trucks than autos. Regular gas stations have maybe two or three cars.
On the way home, we pull into a truck stop for a bite and it was a ghost town. Sign on door says everything food-related is closed, no drive-ins, no nothing. How do the truckers eat? Only one car in that big complex.
All of this tells me the small businesses are getting hammered to the point of extinction due to, again IMO, over-reaction to this virus.
I’m 86, wife 82, so we have big bullseyes on our backs, but when we have to go out, we stay clear of crowded areas (fairly easy now) and liberally use the handwipes - and don’t clutch our pearls.
Sorry for the length - As I was writing this, an alert popped up from the Arizona Dept of Transportation:
“MVD NEWS:TRAVEL ID DELAY AND CORONAVIRUS CHANGES
AZ TRAVEL ID DEADLINE
The October 1 deadline for the new federal TSA REAL ID rules to take effect has been delayed ONE YEAR to October 1, 2021. As a result, MVD customers should postpone plans to get the AZ Travel ID. With this delay and the need to reduce customer traffic at MVD locations, all AZ Travel ID appointments have been cancelled.
We apologize for the inconvenience, but the ongoing Coronavirus situation requires MVD to significantly limit the number of people in offices. Only essential services that must be done in-person are being offered by appointment. Because the REAL ID timeline has changed, getting a Travel ID immediately is less vital for the time being and appointments are reserved for other crucial in-person services.
More than 2/3 of MVD services are available anytime at www.servicearizona.com. REMINDER: Anyone with a license or permit set to expire between March 1 and Sept. 1 has had that expiration date automatically extended by six months and updated on your motor vehicle record. You do not need to get a new license.”
Stocks surge. Democrat party sad.
Looks like the Bear Market is set to last about as long as the bi-partisanship attitude in Washington regarding the Kung Flu.
Six trillion. And they’re talking about maybe even more.
The ever-unaudited Fed to fork out four trillion to “businesses”.
If nothing else, this alone would be sufficient motivation for using a virus (however it came to be) to shut down the economy.
And that’s not even getting to the “get Trump” motivation.
And our civil liberties.
Stock markets are the ultimate indicator of what people believe the future will hold. The market shows a discounted present value of futures. It is 100% reality-based.
Yahoo!
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