Posted on 01/22/2024 1:13:28 PM PST by JSM_Liberty
The Dow industrials finished Monday above 38000 for the first time ever, while the S&P 500 also built on Friday's record close.
The benchmark S&P 500 rose after ending last week at its first record high in two years. The blue-chip Dow also rose to a fresh record, its third of 2024.
Investors will parse a wave of economic data and earnings this week, including the first reading of fourth-quarter GDP and the Federal Reserve’s preferred inflation gauge. Companies including Tesla, Netflix and Procter & Gamble report throughout the week.
As of late Monday:
U.S. stocks rose. All three leading U.S. indexes finished in the green. The Dow just managed to close above 38000, according to FactSet data.
Bond yields retreated slightly. The yield on the 10-year U.S. Treasury note edged lower, settling at 4.093%.
U.S.-listed Chinese stocks including Alibaba and JD.com sold off, echoing the latest declines in China. Hong Kong’s Hang Seng approached its lowest close since 2009. Archer Daniels Midland tumbled after the agriculture company placed its CFO on administrative leave.
Oil prices rose, with benchmark U.S. crude trading at around $75. Bitcoin dripped below $40,000 for the first time since December, then recovered slightly.
Japan’s Nikkei 225 closed at a fresh multidecade high. European indexes mostly rose.
(Excerpt) Read more at wsj.com ...
Makes sense, dollars are worth a lot less.
Our economy is doing GREAT! I’m voting for BIDEN! /s
so inflation continues to rage. it’s the best sign of it.
Probably more of a function of inflation than anything.
If things behave like they have in the past, inflation will cause the markets to rise. That is my hope since I’m partially living off my IRA now.
Stocks are priced in dollars. Now dollar is worth 27% less than on the say Biden was anointed president. Common sense says stocks will go higher with cheaper dollars.
They do not adjust the numbers for inflation. With the inflation that biden gave us, that 38,000 is really a whole lot less.
The oligarch-run Fed is pumping dollars into the economy, and the first place it goes is the stock market.
Love that Joe, just love the guy. Got to get him re-elected./S
Cut 27% off from what your IRA is worth. That is how much buying power your money in IRA has lost since January 21, 2021.
Jamie Dimon told the financial world MAGA consisted of fellow citizens...
Elsewhere I noted that hedge funds are shorting stocks like crazy.
And Chinese stocks are crashing.
So, are US markets leading or lagging?
Plunge Protection Team going into overdrive.
Markets rose on news that DeSantis dropped out... which means closer to a Trump victory. Just saying.
Lay-offs are going to eventually start taking a toll. They can’t be hidden forever since these are middle-management jobs that are taking a hit.
But, that two trillion dollars that our government printed has to go somewhere. So, into the markets it goes. And the markets continue to go up. When this market bubble pops, it is going to make a loud, a very loud, noise.
Luckily my pay has increased over 27% in the last 3 years…
Says zero people I know.
Too bad lots of folks had to cash out chunks of their 401ks over the past 2 years, and their savings have been decimated. (Even worse as that’s just one-in-ten)
Now they are even further behind.
House prices up.
Savings and investments down.
Jobs security evaporating.
I know too many for whom it ain’t easy.
Gas went up here 30 cents over the past week! Yee Haw! No more inflation!
Sarc/
Yup. You are exactly right. Markets anticipate things. And right now they anticipate a triumphant return of Trump to the Whitehouse!
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