DJIA = +274.83
There is going to be a very nasty boomerang some day.
Your Fed in action, making sure there is no negative financial news until AFTER the election.
This is getting fun to watch again. :-D
Make sure you’re not anywhere near the door when the stampede comes along...
Happy days are here again, Mamma!
Isn’t it odd that the DJ rose 273——almost EXACTLY the same number of points it lost y’day +/- 1 or 2 DJ points which is pure noise on a monster +34 point /ES rally?
I think it rose on the euphoria of the gay-marriage crowd, who are apparently widely supported by corporate America.
Interest rates are essentially zero right now.
We as a nation spend $3.5T per year, roughly equally divided in thirds. One third for defense, one third for social programs and one third to service the debt.
When interest rates rise, servicing the debt increases and we are left with reducing Defense, reducing social programs or screwing the banks. Oh, if you didn't know it, the banks never get screwed.
The administartion is pulling out all stops to help demorats in November.
“. Aluminum giant Alcoa was scheduled to report third quarter earnings after the market close on Wednesday, marking the unofficial start of third quarter corporate earnings season. Expectations were for Alcoa to report earnings per share of $0.23 on revenue of $5.85 billion. “
Alcoa blew that out of the water. Earnings .31 Revs $6.28 b
The Minutes also showed that a number of FOMC members were concerned about a strengthening US dollar and a slowing global economy.
The slowing global economy has certainly happened.
Much of the reason the economy sees growth is this continued sugar high of artificially low fed rates. Eventually we’re going see a Black Monday replay. The ride back to reality will be our fulfillment of the Chinese curse of living in interesting times.
And.......who says the market is stacked against the “little guy?”
Answer: The “little guy.”
ho hUm,, another day, another roller coaster ride.
Someday the bubble will burst. I guess they’re waiting for a Republican administration.