Posted on 06/03/2020 10:38:29 AM PDT by SeekAndFind
Stocks rallied into the close Tuesday, with the Dow Jones Industrial Average in the lead despite continued civil unrest and tough talk from President Donald Trump.
The Dow Jones industrials rallied nearly 1.1%, the S&P 500 rose 0.8%, and the Nasdaq gained 0.5% in today's stock action. Small caps tracked by the Russell 2000 advanced 0.8%. Early data showed higher volume on both major exchanges vs. Monday.
Though the Nasdaq lagged Tuesday, the recent resurgence in tech stocks has lifted the tech-heavy index to a 6% year-to-date gain through Monday's close. The S&P 500 is down 5% year to date and the Dow is off 11%. Despite a rebound, the Russell 2000 remains 16% off its high.
The stock market has been in a confirmed uptrend since the April 2 follow-through for the S&P 500. With Tuesday's gain, the Nasdaq is 2% below its Feb. 19 high. (Read The Big Picture for a detailed analysis on daily market action.)
Worldwide coronavirus cases have surpassed 6.4 million, with nearly 380,000 deaths, according to Worldometer data tracker. In the U.S., confirmed cases are approaching 1.87 million with the death toll topping 107,000. Though the counts continue to rise, daily newly diagnosed cases and deaths have held below their respective peaks from April 24 and April 23.
All 50 states have now started to reopen their economies. But concerns of a new spike in Covid-19 cases have increased as mass protests continue since the Memorial Day killing of George Floyd, an unarmed black man, by police officers in Minnesota.
Meantime, President Trump has threatened to invoke the Insurrection Act to send troops to states to quell the civil unrest.
(Excerpt) Read more at finance.yahoo.com ...
The election is 5 months away. It seems that the markets are expecting that Trump will be re elected and more regulations will be rolled back or eliminated.
Vegas is betting on Trump also.
Modelbreaker did.
Inflation is bad if you live off of cash in the bank or under your mattress. Rioters and looters are bad if you live off of cash under your mattress or from your store. I am a multi-millionaire thanks partly to Obamas QE and am looking forward to a piece of the stimulus money being printed now when it shows up in the stock and real estate markets. If your tangible asset and stock gains beat the inflation of non-tangible assets and consumables that you buy, you win.
I never got out in the first place.
Ye indeed.
I margined the hell out of my account and put in a bunch of savings starting 1st of march through April. I was puckered up tight with a few margin calls for about 2 weeks, but this week has been a huge breakout for my.
I’m holding some September SPY call options that I’ve doubled my money on and now I’m expecting that I’ll likely cash out in July/early August when we get back to where the markets were in Feb.
Outside of that I put it all in high dividend (Dow, Exxon, Ford (that ones still disappointing price wise + they cut their dividend); REITs, and oil. The dividends have been more than paying for my margin expense so far.
Going to be a very nice fall :)
I'm smiling. Checked my stocks, and they have recovered and surpassed the losses from a few months ago. Plus I bought others lately and have nice gains.
Congrats to you for your smart investments and thinking. One reason I invest is because of the fear of inflation; at least the investments keep pace with inflation while cash does not. But I'm also diversified just in case. It makes me sad that my cash and metals aren't earning profits, and actually lose against inflation. Better to have something than nothing?
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