Double top.
It means the same thing on Wall Street as double tap means on the mean streets.
You have been warned.
How does the selling of $1.6 Trillion in Bonds later next year fit in the Fed Scheme?
The pump before the dump
Highest ever NASDAQ Close was 16084 on Nov 19, 2021. Highest ever S&P close was 4797 on Jan. 3, 2022.
Excellent!
I always follow the DOW. I was wondering if the record would be broken.
Inflation had to catch up eventually.
5.56mm
And the Dow closes at 37,090, 291 points above the previous all time high.
Dow up 512
NASDAQ up 200
S&P up 51
It’s a good day!
Gotta make those end-of-year bonuses, don’t you know?
These trading house boys and fund managers need new yachts. BTW, that doesn’t mean you.
10 year yields have fallen 100 bp from the peak, too.
Economy looking like goldilocks.
Lots of people around here are quite pissed that the stock market didn’t crash or that we never got that deep recession were told was coming.
Anyone remember Jim Glassman and a co-author putting out a book “Dow 36000” in 1999? When the market tanked a couple years later, poor Jim was cited as among the worst of the worst when it came to “irrational exuberance” and dot-com-boom cheerleading and he went around the financial shows for a couple years pretty much apologizing for being overly optimistic. In the long run, of course, he turned out to be right.
I knew Biden would make things right. /sarc
...oh, that's reserved
...never mind.
It will probably soar to 50,000 after the USA defaults.
None of this makes sense to me. Why would anyone invest in stocks when short term bonds are paying 5%? I’ve seen articles saying the bulk of retail investments are already out of the market and hedge funds have been shorting it for awhile now and getting burned. This is all just the shenanigans of Blackrock, Vanguard, State Street, ect intentionally keeping the market up. So when the big boys start dumping the crash is gonna be epic.
The Dow is not up. The dollar is down.