Posted on 06/08/2020 4:09:35 PM PDT by LibWhacker
The stock market rallied once again on Monday, pushing the S&P 500 into the green for the year as the benchmark completed its wild round trip amid the coronavirus pandemic. Investors are growing more and more optimistic about a speedy economic recovery as states continue to reopen.
Stocks finished the day at their session highs with the S&P 500 jumping 1.2%, or 38.46 points, to 3,232.39. The equity benchmark turned positive for the year in the final moments of Monday and has now bounced more than 47% off its March low. At one point this year, the S&P 500 was down more than 30%. It’s now positive for 2020 by 0.05%.
The Dow Jones Industrial Average traded 461.46 points higher, or 1.7%, to 27,572.44, trimming its 2020 losses to 3.3%. The Nasdaq Composite was up 1.1% to 9,924.74, hitting a fresh record high and bringing its year-to-date gains to 10.6%.
“What is clearly happening is the excitement of reopening is allowing a lot of these companies that have been casualties of Covid to come back and come back in force, ” said Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, on CNBC’s “Squawk Box. "
(Excerpt) Read more at cnbc.com ...
“A Democrat victory would put a quick and decisive end to all this upward movement.”
it’s also quite possible that this market is already baking in a GOP victory only five months down the road because if the market thought that biden and the Dems were going to win, it wouldn’t be showing this much exuberance ...
I was in Cash, bought back in to save America and now I’m slowly going back to cash. Democrats aren’t done trying to destroy the economy. They got 5 months.
“Never dreamed it would be back up to where it was”
I did ... and invested accordingly when the market was at its bottom a few weeks ago ... so far, my portfolio of very carefully selected babies that were thrown out with the bath water are up nearly 50% since then ...
my investment strategy has been to study President Trump, and what i realized is that he’s never wrong (at least almost never wrong), and it’s because when he says repeatedly that he has a FEELING that the economy will quickly come roaring back, what he’s really saying is that as the leader of the free world he has more information and analysts available to him than the rest of the world’s political and economic leaders put together, and it’s THAT information and THOSE analysts and his business acumen to understand the meaning of the totality of the situation that says the economy will quickly come roaring back ...
meanwhile, the media, the Dems, the anti-Trumpers and all the rest take Trump’s statements regarding “feelings” at their face value because none of them understand that President Trump is a true genius, but instead continue to believe he’s nothing but a buffoon ...
““The Stock Market May No Longer Care If Trump Wins the Election””
uh, huh ... when pig’s fly ...
“I happened to look at my portfolio at the 2020 peak in February and I am still down .5% from the peak.”
that’s the beauty of not panicking ... even MORE beautiful is to have the guts to stuff a lot of cash into babies that were thrown out with the bathwater when the market was at its bottom ...
Good point!
Those senators doing insider trading must be feeling pretty stupid.
They market is setting us up for a huge correction in September and October. The economy sucks. Even Jim Cramer said this was all wrong and seems to be a set up for failure.
That is my thought as well. The “Market” is - expecting a Trump win.
Dems deeply upset....
Democrats saddened !!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.