Posted on 07/06/2020 7:08:40 PM PDT by BeauBo
No worries! The looters will relieve them of excess inventory.
“ and the stock futures are sinking?”
Yeah...right now futures are down .34%.
MORE THAN 1/3 of 1%.
After the Dow rose 1.77% today. Oh noes, we’re all gonna die.
Yeah, what a mess in some places.
I misjudged what an incredibly large drop the stock market would have in such a brief time, so I held on for most of it, then compounded the error by selling most of my stocks within a couple of weeks of the bottom.
However, when the market started rebounding I got back in fairly quickly and bought virtually all “aggressive growth” stocks, which is where most of the rebound has been concentrated. As a result, my account is well above where it was before COVID hit.
1. NASDAQ is not the entire market. It is mostly younger, faster paced companies, most of which are in technology these days.
2. The stock market is forward looking.
3. Unemployment is not nearly as bad as it was even 2 months ago and is expected to be back under 5% by the election.
4. I know the employment status of about 35-40 people in our small little rural town. At the worst of it, about 5 were unemployed. All of those have found new jobs and are doing well right now.
Lots of cause for optimism.
I just commented it was curious the futures were down with this statement. Nowhere did I say anything about apocalypse or doom and gloom. Good heavens you guys are drama queens
Because the economy is now growing at a very fast clip of anneetimated 12.4%, and job creation for May/June(7.5 million new jobs created in just 2 months) were the fastest in history, with even more great figures expected from now to the end of the year. Plus company earnings from the big tech companies which were great in Q1 are expected to be very good in Q2 as well.
The stock indexes like the Nasdaq are weighted heavily towards the big tech firms with huge market caps like Microsoft, Apple, Google and Amazon. Trump calls them the MAGA firms.
Microsoft Apple and Amazon are now at or close to $1.6 Trillion in market cap each.
The CBO is rarely correct.
This can’t be said enough. It is being ignored by the msm because it is frightening news. Premarket being down is not a serious problem unless it is 1000 points. The market never goes straight up because of profit taking. When this news leaks out ( it has been around for a few days) and found anywhere near true, it will be a huge boost to our economy. Take the good news and smile.
Funny, I interpreted you as being the drama queen.
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