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 Thursday’s plunge, which was triggered by a massive drop in Apple’s 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 we’ve seen coming in, we will be patient as we watch to see how the economy evolves.”
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(Excerpt) Read more at cnbc.com ...
Can you ping me and let me know when low and high are?
...
I can tell you with perfect hindsight.
I think we can grow @ 6 to 8% and Kudlow has hinted to it and in an interview w/ Hannity PDJT mentioned we should be at 8 or 9%, and I thought I was nuts! I guess I wasn't crazy after all.;-)
I laid out eons ago why I think we could be @ 6 to 8% here on FR, w/ all the effective changes at the margins Team Trump have been enacting to pick up a 1/2% here and greater and It added up to +6%. I laid my case out to 2 high performance business / market wonks in my circle and they said no you are not crazy.
It is getting tough to search FR on google and other search engines and IMHO they are shunning us, I know I have tried...
we are used to DOW for decades in a much lower range ( 15000 in 2013) 500 600 800 movement looks large but the % is small.
I know we cannot get past the impression of DOW moving 100’s of points. We will get used to looking at points & percentage change.
...and right on cue, there’s an article over at Marketwatch calling this “panic-like buying.”
**************
Up day for the markets. Down day for the media.
Not in Illinois. LOL! Certainly not with the net outflow of people from this complete shithole.
Good one.
The Dow was already up big when Powell started talking. But Powell took out a prepared written statement and gave a very dovish statement. Basically he said, he did not need to continue tightening if the market has a cow. But with inflation shrinking, and people entering the job market from the sidelines, I think he will only raise rates if the China issues get resolved. Trump is handing China a can of Whup-ass.
“Really folks, I had no intention to crash the economy...”
Yeah. He did. He was probably taken to the “wood shed” by the POTUS over it, too....LOL...thus the so-called “change of heart”.
Gave them some more points to drop. Stand by for another fall back to where it was and less.
When I am hunting and have a blowout, nothing good follows.
Missed my chance to load up on AT&T at 27. Now back up to 30 and climbing. Maybe I’ll get another shot.
Wait a second... when the market drops, it’s not the end of the world? It starts to recover at some point? Wait until the experts on the financial channels hear about this!
Really? Wow, that would be astonishing if we could get 6-8%.
I remember hearing someone say that if we were to maintain 6% GDP growth a year and keep spending under control, we could pay off the debt in something like 15 years.
This is why I am so bullish about Trump. The key to achieving long lasting growth and prosperity is to make the USA an attractive climate to do business in...low tax rates, low government bureaucratic overhead, etc. Let people work, produce, and pay taxes. Let people make money, and prosperity will follow.
These people on the left are out of their minds. The Democrat party has pretty much gone full socialist, full open borders. If we let them have their way, it is bye bye USA.
You can’t know exactly but the technicals from studying the charts offer some insight that can provide some guidance. At least it helped me and I was pretty much flying blind beforehand.
There goes “Obama’s economy” again..
Wish I knew what a PIA is.
Guess I’m too dumb.
Pain in @ss without The?
Thank you.
Fish! the Fed is a Pain in the A!! Lol!
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