Dow surges 459 points, Nasdaq clinches fresh record close, despite concerns of economic toll of unfettered U.S. virus cases

marketwatch.com ^ | July 6, 2020 | Joy Wiltermuth and Sunny Oh

[John W]

U.S. stocks finished sharply higher Monday, with the Nasdaq scoring a record close, as Wall Street followed surging Chinese equity benchmarks to their best levels in at least two years.

Monday’s upbeat market action contrasted with a further spike in U.S. coronavirus cases and a resurgence of business restrictions by state and local authorities struggling to contain the viral outbreak.

U.S. stocks ended up sharply Monday, led by shares of financial companies and record-setting technology shares as Wall Street followed Chinese equity markets higher.

But Monday’s gains also came with growing doubts about the ability of the U.S. to contain the viral outbreak and its economic fallout, after COVID-19 cases climbed across the U.S. over the Fourth of July weekend.

[bkopto]

I don’t believe the .fedgov’s rigged numbers.

https://chapwoodindex.com/problems-with-the-consumer-price-index/

[SmokingJoe]

The Nasdaq has already been hitting new records for weeks because the markets strongly believe Trump will win. And he will.

[dfwgator]

The Nasdaq has already been hitting new records for weeks because the markets strongly believe Trump will win. And he will.

Or is it because the ChiComs are buying the stocks and bidding up the price?

[SmokingJoe]

You can believe men from Mars just landed on earth last night for all I care. That doesn’t make it so. I don’t do crazy.

[Cobra64]

Don’t have love it when they say, “DOW is up.” Up to what number? Is it a secret?

[SmokingJoe]

Now why would the Chinese do that?
Say what you will, the Chinese are not stupid.
They are not going to bid Microsoft and Apple to their current $1.6 Trillion market caps if they thought the stocks were worthless.

[SmokingJoe]

[[[But Monday’s gains also came with growing doubts about the ability of the U.S. to contain the viral outbreak and its economic fallout, after COVID-19 cases climbed across the U.S. over the Fourth of July weekend.]]]]

The obligatory piss in the corn flakes by the pressholes.

===== Yup.
You got it.
Entire article is dripping with animus towards President Trump.

[SmokingJoe]

Up from the previous day’s close.

[Reynoldo]

Deaths are increasing in
Arizona
Arkansas
Tennessee
Texas

[PeterPrinciple]

We have tremendous inflation in what exactly?
Where is the inflation at?

---

I don’t know where you live

real estate
stocks
food
utilities

Everytime I go into the hardware store I can point at something and say it was half that price 6 years ago.

[John W]

Are they decreasing in the other 46 states?

[Reynoldo]

26287.03

[RevelationDavid]

Psalm 20:7 New International Version (NIV)

7 Some trust in chariots and some in horses,
but we trust in the name of the Lord our God.

....where are YOU placing your hope tonight Freepers? Has all the money you made in your life thus far...made you truly happy? Has it filled that empty heart? Put your trust in Christ and give to the poor....downsize and follow HIM.

[PeterPrinciple]

We have tremendous inflation in what exactly?
Where is the inflation at?

---

What I tried to say in the initial post is the when people talk about inflation that does not mean EVERTHING. It depends where you look. It might be certain items and might be certain regions.

We have lived quite a while with the mantra, “wait, and the price will go down.” That has changed, now it is buy it now while you still and before the price goes up.

It takes a while for our mind to catch up to what is happening NOW, we tend to live in the past.

[Reynoldo]

Decreasing in
Alaska
Colorado
Connecticut
Delaware
Illinois
Indiana
Maryland
Massachusetts
Michigan
Minnesota
Nebraska
New Jersey
New Mexico
New York

[SmokingJoe]

The consumer price index (CPI) from the Bureau of Labor Statistics and the personal consumption expenditures price index (PCE) from the Bureau of Economic Analysis say otherwise.

The annual inflation rate in the US eased to 0.1% in May of 2020 from 0.3% in April.
https://tradingeconomics.com/united-states/inflation-cpi

[Cobra64]

Thanks! Now I don’t have to click the app on my iPhone. 😆

[SmokingJoe]

As far as stocks are concerned, the stock indexes rise or fall for the most part, according to the earnings of the firms that make up the indexes. So for example, the Nasdaq is hitting record levels in part because Microsoft, Google, Amazon, Apple which make up a big chunk of the Nasdaq 100, had great earnings first quarter and are expected to have great earnings second quarter as well.
Stock market indices have nothing to do with inflation.

[PeterPrinciple]

as I explained, inflation is RELATIVE. Depends on items, regions and other things. Are you mister average? the old feet in the oven and head in the freezer but on average you are pretty comfortable.

The inflation index doesn’t mean a DAMN THING.

If you are old, living on a fixed income now, you will notice inflation. Lose you job and you will notice inflation.

During the Great Depression, not EVERYONE was going broke and jumping out of windows. A third were going broke, a third breaking even and third were having a party.

[PeterPrinciple]

As far as stocks are concerned, the stock indexes rise or fall for the most part, according to the earnings of the firms that make up the indexes.

---

That is our perception but the reality is that it moves based on rumors, especially what the govt is going to do.

There is not much difference between stocks and lottery tickets.

Now, we all buy stocks because it is the only place to store our wealth, not many other options. But there are some.