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Nasdaq drops 3%, Dow loses 300 points following hot inflation report
CNBC ^ | 5/11/2022 | Samantha Subin

Posted on 05/11/2022 1:36:13 PM PDT by Tell It Right

Stocks fell on Wednesday, dialing back earlier gains as investors continued to digest the latest U.S. inflation data.

The Dow Jones Industrial Average fell 326.63 points to 31,834.11, or 1.02%. The S&P 500 slipped 1.65% to 3,935.18, and the Nasdaq Composite dropped 3.18% to close at 11,364.24.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: investment; nyse; stocks
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To: Tell It Right

“””I don’t know about you, but my power rate went through the roof YOY.”””

I have not looked, but I suspect my electrical bill is about the same.

I just got back from a doctor visit and his assistant was telling me how difficult it has been to find people to work in the office. Covid vaxx mandates forced people to quit and finding replacements has been difficult.


21 posted on 05/11/2022 2:03:08 PM PDT by Presbyterian Reporter
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To: Mr. Rabbit

The US House just cut a 40 billion dollar check to Ukraine in the name of nation building and preserving democracy.

Folks, that’s 40 thousand brand new millionaires. Do you really think this is about democracy and preserving NATO?

Don’t be stupid. All the Biden buddies on this board need to rethink the foreign policy objectives these idiots in congress and especially at the State Department.

I’m more worried about them than Putin.


22 posted on 05/11/2022 2:04:44 PM PDT by blackberry1
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To: Tell It Right

Volatility is what it is.

Keep your eye on inflation, if you are evaluating the stock market. Inflation adjusted market value is down during Biden’s presidency.

The real deal is the money the stocks send back to you. The market price numbers are just a record of how much people have spent. A stock is worth what you are going to get back, not what you sent in.

Watch the dividend rates, adjust for inflation and ignore the market price.


23 posted on 05/11/2022 2:16:22 PM PDT by 2manydegrees
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To: JonPreston

Oil up almost $6 to $105.11

10-Year bond yields down under 3% again (which means money moving in, locking in a ~3% return at 8.5% inflation = 5.5% negative return. Which may suggest some in the market anticipate greater than 5.5% downside to come.


24 posted on 05/11/2022 2:17:25 PM PDT by monkeyshine (live and let live is dead)
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To: DEPcom
Before you do that, make sure it's worth it. And do that by making sure you know how to calculate how much you're paying per kWh. Which means figuring out how much your flat monthly rate is, plus any riders your power company charges also monthly, plus state tax.

For me in Alabama, that's $14.50 per month flat charge, plus 75 cents for a natural disaster fee (total $15.25) plus a 4% state tax (total $15.86). That means before I installed my solar system, I knew that even in a totally optimum situation where I went a whole month without drawing any power from the grid I'd still pay $15.86. There's no getting around that without going off-grid. So count that as a portion of your bill your power wheel will never cut down on.

Then subtract that from your total bill to get your overall usage charge. This past bill was $54.06 (not bad for an all-electric two-story house in Alabama where we run the A/C in April), so my overall usage charge was $38.20. Divide that by the # of kWh you pulled from the grid that month (for me that was 285 kWh) and you get your true rate per kWh (for me that was 13.4 cents per kWh). For every kWh you save with your system you're saving that much in money.

My solar inverter recorded that I used a total of 1,093 kWh for that billing period. That means my solar system saved me 808 kWh (kWh consumed minus kWh bought from grid). Because I know from the step above that my true kWh rate was 13.4 cents/kWh, that means the solar system saved me $108.34 that month.

Be sure that math works for you before you spend money on a power wheel. But once you figure it out, also remember to factor inflation. Basically, the amount I'll save next year per kWh is more than I saved this year per kWh, then the year after that is more per kWh, then more after that, etc. For that I assume a 3% inflation rate. Once I realized that inflation is part of the equation, I knew that the cost of solar would pay for itself in decent time. Maybe the same will be for you with the power wheel.

25 posted on 05/11/2022 2:18:40 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Tell It Right

I used 8% less electricity and 6% less gas in April. My bill is 111% higher


26 posted on 05/11/2022 2:20:50 PM PDT by anoldafvet
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To: 2manydegrees
Good to keep in mind.

For the record, when I post things like "the S&P 500 is down blah blah blah" I factor in dividends. Both of my data sources (mainly alphavantage.co for intraday prices and yahoo finance finance for closing prices) give me both the "real" historical prices and the historical prices adjusted for dividends. I use the adjusted price in my SQL queries when I post the changes across time. For the S&P 500 I base it off of a passive index fund (points-wise that doesn't match the S&P 500, but percentage-wise it's identical) and that gives me the adjusted price for dividend payouts.

I ought to factor inflation, though. Do you know of a place I can download it from? Even if I use the crappy calculated CPI it's better than nothing.

27 posted on 05/11/2022 2:25:28 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Tell It Right

Somebody ought to explain the difference between ‘whipsaw’ and ‘nosedive’ effects to Ms Schmidt! Sad that she is quoted in this article since she obviously can’t tell the difference between a hole in the ground and her.,, Nevermind!


28 posted on 05/11/2022 2:29:24 PM PDT by eeriegeno (Checks and balances??? What checks and balances?)
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To: anoldafvet

As a data nerd I almost wish I hadn’t shut off my natural gas service and replaced my natural gas appliances last fall with high efficiency electric ones. That basically means I don’t have an actual rate for current natural gas costs in my area to use in my calculations on how much I’m saving with my overall project of investing in solar and making the house all-electric. Even with how much I’m saving on power I have to make a guess because in some ways my project makes me use more power (heating the house and water used to consume gas, now they consume power). But in some ways I’m saving on power consumption (when I replaced my gas furnace I also replaced my A/C, both with a variable speed heat pump that cools the house more efficiently than my A/C used to -— a big deal in hot Alabama).


29 posted on 05/11/2022 2:32:42 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: cranked

Was going to retire in 2008... That got shut down so I stayed another 10 years and went out in 2018.. things were great, retirement accounts looking exceptional and even through 2019 still looked great..then Biden.

Worse then 2008 is fast approaching.


30 posted on 05/11/2022 2:32:46 PM PDT by maddog55 (The only thing systemic in America is the left's hatred of it!)
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To: Presbyterian Reporter

“April food was up 1% over March food. If that trend continues, food will be 12% higher this time next year.”

The real food pain hasn’t yet been felt. Higher energy prices have not yet been fully reflected in food prices. Wait until this year’s harvest. The huge run up in fertilizer prices this spring will also show up in summer and fall harvests.

Crime is rampant throughout the country. Higher insurance costs and the losses from thefts will push prices higher through the year as will higher wages. Anyone who lived in the 70’s knows the wage/price upward spiral is just beginning.


31 posted on 05/11/2022 2:33:20 PM PDT by Soul of the South (The past is gone and cannot be changed. Tomorrow can be a better day if we work on i)
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To: Tell It Right

Inflation numbers are not actually real.

Inflation is personal. Yacht and diamond inflation doesn’t have anything to do with my life. F-150 and hamburger inflation do. Rent inflation works for me. Mortgage interest inflation works against me.

If you want to evaluate the market, check your market returns against your own expenditures.

What you don’t do is believe that market ups and downs identify real stock values. If you trade stocks like a poker player or something, you can make some moves based on market price, otherwise market moves are just weather.


32 posted on 05/11/2022 2:34:48 PM PDT by 2manydegrees
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To: Presbyterian Reporter

3,854 on the S&P would mark a 20% drop from the all-time high, and a bear market.

It’s coming soon. A Bank of America strategist whose name escapes me sees the index at 3,000 by October.

I’m looking at Dow 25,000 as a good buy-in point.


33 posted on 05/11/2022 2:41:29 PM PDT by Deo volente ("When we see the image of a baby in the womb, we glimpse the majesty of God's creation." Pres. Trump)
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To: Tell It Right

The IRS and USG is the only winner. If it takes two years to get back to those highs after 30 December the USG with tax your profits annually and little does your losses matter.


34 posted on 05/11/2022 2:44:46 PM PDT by Jumper ( )
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To: cranked

Greed kept them in the markets. I got out in 2007 and while I didn’t make much except to buy on dips and then jump back out before it got back to highs. I’m good with that. Americans need to understand the Socialist Workers Party and the Communist Party alignment with the DNC and their policies mean that they will eventually destroy the economy in order to hold political power forever.


35 posted on 05/11/2022 2:49:24 PM PDT by Jumper ( )
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To: Presbyterian Reporter

Reagan once said “A recession is when your neighbor loses his job. A depression is when you lose your job.”

To update this, “A recession is when your neighbor can’t put food on his table. A depression is when you can’t put food on your table.”


36 posted on 05/11/2022 2:53:03 PM PDT by OrangeHoof ("Rust" may be the first movie where the blooper reel gets more viewings than the actual film.)
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To: Tell It Right

The market never should have gone up 40% when the over reaction to coronavirus hit. Just my simpleton view of the world. It made no sense then and makes no sense now. Markets are illogical.


37 posted on 05/11/2022 3:06:29 PM PDT by wgmalabama (We will find out if the Vac or virus risk was the correct choice -can put the truth above narrative )
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