Skip to comments.Dow surpasses 29,000 for first time
Posted on 01/10/2020 9:31:47 AM PST by yesthatjallen
The Dow Jones Industrial Average briefly surpassed 29,000 on Friday for the first time, setting a new record.
The index hit the record earlier in the session following a moderate December jobs report, which found 145,000 new jobs created in 2019 and the unemployment rate staying unchanged at 3.5 percent, the lowest level in nearly 50 years.
The Dow then retreated and was down slightly as of late morning.
President Trump has frequently touted strong stocks as a sign of a booming economy, which he has made a central theme in his case for reelection. He has also cited the strong economy as an argument against impeachment.
The new high for the Dow comes even as economic growth is expected to continue moderating. The World Bank projected that the economy in 2020 would grow at just 1.8 percent, below the sustained 3 percent growth the Trump administration promised.
(Excerpt) Read more at thehill.com ...
The economy according to Democrats.
A big chunk of that is AAPL.
My target was Christmas. I stated saying it would hit 29,000 by Christmas in 02/2019.
I’ve watched the market for year and there is indeed a lot of sneaky manipulation that goes on. A lot of times this is generated by the swamp and the media who are playing the markets themselves. Examples from this last week were the reactions to the Iraqi general getting smoked and then the jet going down.
Trump has really jacked with the effectiveness of the left wing press. A lot of people no longer react to the MSM and people like Pelosi like they did just 3 years ago. Hillary, Obama, Bill all cannot change the news cycle. Trump rules it with his social media.
I’ve been saying this since Trump was elected and it’s true. God has his hands on things. Some of the stuff that has happened is not by man.
I’ve been watching politics since I was a teenager. I never expected to see what I have seen the last 3 years. Wow.
No surprise, after blaming Bush for their 8 years of failure, Democrats now want to claim the success that is achieved after O left office.
Not gonna close there unless there’s a late rally.
The last of the original Dow 30 was General Electric, which was removed a while back, ending a run of over a century. GE’s P/E ratio is over 1,000, its dividend is at 1 cent, the stock sells for less that $12 (last I checked), a huge decline, but other than that, seems like a great speculative buy-and-hold. :^)
By JAMES CHEN
Updated Sep 3, 2019
What is the Dow 30?
The Dow 30, commonly referred to as just the “Dow,” or the “Dow Jones Industrial Average,” was created [in 1896] by Wall Street Journal editor Charles Dow and got its name from Dow and his business partner Edward Jones.
obammy said he would have “a laser-like focus on jobs.” pelosi said the important word was a three letter word: “jobs.”
Trump brought them back.
Has the World Bank ever predicted more than 2% for us?
There is a very realistic chance the DJIA (top 30) will wind up more than doubling under Trumps administration.
To me, thats very impressive.
This segment of the market has already gone up around 11,000 points, and would only need to go up around another 6-7,000 to reach the the doubling point.
When President Trump took office, the year before, the dow was 17,425- the dow has nearly doubled since He’s been in office, and the democrats were predicting massive dow losses-
You would think the left would be sick of being wrong all the time- but nope- they keep right on chugging along
Right now the total value of ALL publicly traded U.S. stocks combined is 1.537 times higher that the value of the ENTIRE U.S. economy of which they are a part. That is the highest that ratio has ever been including the dot.com bubble (1.4X) and the 2007 housing bubble (1.06X). Right now, the hand of God theory is as good as any to explain these levels. When God finally decides to let equities revert to their mean, be somewhere else.
Well, the Dow has pulled back from the 29,000 level as I write this.
AAPL, AXP, BA, CAT, CSCO, CVX, DIS, DOW, GS, HD, IBM, INTC, JNJ, JPM, KO, MCD, MMM, MRK, MSFT, NKE, PFE, PG, TRV, UNH, UTX, V, VZ, WBA, WMT, XOM
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