Posted on 03/21/2024 1:25:06 PM PDT by ChicagoConservative27
The stock market continued its record-setting rally Thursday with the Dow Jones Industrial Average notably flirting with 40,000 as technology shares made major gains.
The Dow closed with a gain of nearly 270 points, or 0.7 percent, putting it within striking distance of the major milestone at 39,781 points. The S&P 500 and Nasdaq composite jumped 0.4 percent and 0.4 percent, respectively, on the day.
The microchip sector led the charge, buoying the Dow despite a slump in Apple stock after the Justice Department sued the smartphone giant, alleging the company has hurt competition and consumers, developers and small businesses.
(Excerpt) Read more at thehill.com ...
Bear in mind frank that govt. dependents receive money which does not accurately increase to match the rate of debt increase/treasury issuances. IOW the value of loyalty payments keeps shrinking. Like unpaid soldiers they will eventually be disillusioned and wander off.
The market is up because of THE FED and nothing else. Now this week Powell says that 3 rate cuts are still on the table for 2024.
My prediction is this, there will be a rate cut in June, this will continue to fuel the market. That cut will be irresponsible but will happen because of pressure from the Biden Administration to prop him up. Although there is no longer any correlation to the stock market and real economic activity. Inflation will still be there and real unemployment is much higher than advertised.
So the market will be Juiced through the election to keep the Illusion going. But 2025 will be a totally different story, Inflation will have to fought with a vengeance and that will mean a return to rate increases and there will be several.
My own personal opinion is that right after the election will be time to rebalance my portfolio into Bonds, Agencies, State Bonds, Etc., Treasury Notes are going to be going up then.
It doesn’t matter who win’s the Presidency , same scenario of a very Chaotic 2025 coming up.
Thanks but I hate those Biden supporters a little more today because it’s a new day.
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