Posted on 11/24/2020 8:57:02 AM PST by SeekAndFind
Despite tanking 35% within weeks at the height of pandemic uncertainty in February and March, the Dow Jones Industrial Average–a key U.S. stock market index measuring the performance of 30 large-cap companies–has hit a historic milestone, reaching 30,000 points on Tuesday for the first time ever.
The Dow reached the threshold just minutes before 11:30 a.m. EST on Tuesday amid market bullishness fueled by blowout earnings, coronavirus vaccine optimism and fading uncertainty in Washington as President-elect Joe Biden formally begins his transition to the White House.
Leading the Dow's gains this year are many firms representative of the pandemic market–including top performers Apple and Microsoft, up 52% and 42%, respectively (adjusting for Apple's August stock split), amid a tech boom that's boosted non-Dow stocks like Facebook, Twitter and newer players like Zoom.
Even in the booming blue-chip index, not all of the stocks have been surging: nearly two-thirds of components are down this year, namely those in energy and financials–the two hardest-hit sectors during the pandemic.
The worst-performing Dow stock is oil giant ExxonMobil, which has crashed 53% this year; embattled Boeing follows closely behind, plummeting 52%.
The Dow has now climbed roughly 4% this year, compared to 11% for the S&P 500 and 31% for the Nasdaq.
“Numbers are numbers, but some mean more than others–30,000 might mean more to some veteran investors who remember a 1999 book that predicted the Dow would eventually reach 36,000,” TD Ameritrade Chief Market Strategist JJ Kinahan wrote in a piece for Forbes on Tuesday. “At the time, some laughed off that projection, and it seemed a bit hard to believe when the dot-com crash and the Great Recession happened back-to-back not long afterward. At one point in 2009, the [Dow] fell below 7,000, and even 10,000 seemed like a stretch.”
(Excerpt) Read more at forbes.com ...
Do investors see an end to the shamdemic, now that Joe and the Ho could be stealing into the Oval Office?
Just a setup for when the economy gets shut down. Lots of money to be made by going short. Too bad we don’t have the inside information that others will use to time this correctly.
something is up.
Gold opened down big time and continues to fall
When that MOFO collapses, it is gonna be the worlds greatest horror show ever.
Wait for it, if Joe and the Ho manage to steal this election, I for one look for that to happen very quickly.
K-shaped recovery
“something is up. Gold opened down big time and continues to fall”
Globalist know globalism will be back along with worldwide cheap labor.
companies preparing to increase profits by moving overseas and all those govt workers haven’t lost a penny.....
Sounds like the Casino is about to take some big profits.
Really? GOOD. I intend on buying some.
Because when they eliminate cash and go stictly to digital, the only way to survive the pending calamity will be by using precious metals as the means of exchange.
I(we) should of voted for Biden.
“Globalist know globalism will be back along with worldwide cheap labor.”
That’s my guess.
The secret’s out: The stock market runs on Dominion software!
>>Despite tanking 35% within weeks at the height of pandemic uncertainty in February and March,
corporatists (Crony Communists) knew this was coming as they had discussed THE shutdown in October 2019 at Bill Gates’ Event 201 sham.
So who profitted from this knowledge?
Do investors see an end to the shamdemic the end to the Trump boom now that Joe and the Ho could be stealing into the Oval Office?
I bought in at the bottom. Put 25K in blue chip with high dividends. At low 40’s banked $4500 in profit already & received another $4k in Divis already. Even if the market double bottoms, all I would do is buy more.
Stock market sees Biden as returning to apease China & that they like because they can sell out American workers while getting products manufactured for cheap in slave markets in Tianjin.
Might regret not selling a chunk at these values.
Or....they see the end of the fraud election and President Trump re-elected!
This is a sign, or more or less an omen of things to come. It is no accident that great travail comes after a positive milestone or marker, while also, great things come after the darkness of disasters. I certainly would not get too excited about this ‘sign’..
The market going up is not a sign of success, it is a sign of the failure of the market to hold its own. Inflated prices and wages are the cause, not a strong market. A strong market is when the price of items is more accessible by volume than by product. The same thing happened during the Clinton administration and it was a con by the liberals to try to display a success that wasn’t there based upon higher numbers but no bang for your buck. Remember, “It’s the economy, stupid?” Well, if you bought into that, you were stupid.
If you can buy a loaf of bread for a dollar, and you get a raise so the bread is now priced up to a dollar fifty when you get a thirty cent raise, you lost ground. So everyone had to get another raise to buy the bread and still afford to buy gas to get there. And the store owner had to give his people a raise also, so he had to increase the price of the product, again, to cover his cost of goods.
In 1990, the cost of a loaf of bread was $0.75 with the federal minimum wage at $3.80. In 2000, the cost was $1.99 with the federal minimum wage at $5.15. The cost of bread goes up around 150%. The minimum wage: 74%. Call that a good economy? Not really as the loaf of bread doesn’t say anything about hot items in an area. Snow tires in Colorado, price of the subway in New York...these items could go even higher as they are requirements, not luxuries. And that becomes a tug of war with either greedy owners or everyone stuck in the middle.
wy69
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