U.S. stocks see best quarter since 1998

[kevwr1962]

The people who will get hurt are the people who do not manage their own money. They trust an investment adviser or someone in their corporate office to do it. I'm pretty sure they get paid whether you gain 1000% or lose everything. If their salary was 10% of what they made for each client, the average person wouldn't see their 401K drop 50% in a week and STILL not have recovered from the Corona crash.

[JustRight]

U.S. stocks continue to climb.
“The Dow Jones In­dus­trial Av­er­age climbed 411 points, or 1.6%, in mid­day trad­ing. The S&P 500 rose 1.3%, while the tech­nol­ogy-heavy Nas­daq Com­pos­ite was up 1.8%.”
https://www.wsj.com/articles/global-sto ... yURL_share

[RambleOn]

Nasdaq lower now, but still has me thinking new car!

[JustRight]

Another good opening:
“ The Dow Jones In­dus­trial Av­er­age leapt higher Wednes­day as in­vestors cheered promis­ing re­sults from the study of an ex­per­i­men­tal coro­n­avirus vac­cine and solid earn­ings from Gold­man Sachs Group.
The blue-chip in­dex jumped 338 points, or 1.3%, to 26973 in early-morn­ing trad­ing. The S&P 500 rose 1.1%, nearly pulling the broad in­dex out of the red for the year, while the Nas­daq Com­pos­ite ad­vanced 0.9%.”
(The Wall Street Journal)

[RambleOn]

Happy with the last couple of days and the general trend, but don't count on it lasting forever. Haven't changed any funds for quite some time, just riding it out, whichever way it goes.

[Joe B]

Bragging about record gains in the stock market while the unemployment rate is approaching 15% is a “let them eat cake” statement. The pitchforks come next.

I’ve been off PeoriaDotCom for a while. I guess I missed it when you were bragging about record-low unemployment.

I think that was during the Obama years

[RPlant]

Funny how quiet some have been about the stock market of late. And this without an unfunded tax cut to the rich or Trump having his Fed buying up common stocks to artificially prop up the market.



Stock market growth under Biden must thoroughly annoy Trump
Trump operated from the assumption that Wall Street offers a real-time barometer of a president's performance. So what explains market growth under Biden?
https://www.msnbc.com/rachel-maddow-sho ... p-n1283340
Nov. 5, 2021, 10:20 AM CDT
By Steve Benen
Two weeks before Election Day 2020, Donald Trump and Joe Biden met for their final debate, and as regular readers might recall, the incumbent president made a bold prediction. "If he's elected, the stock market will crash," the Republican claimed, pointing at his Democratic rival.

Americans elected Biden soon after. The stock market, at least for now, has not crashed. In fact, the Wall Street Journal reported in April that Wall Street was off to its best start to a presidential term since the Great Depression. Fortunately for investors, the growth has continued. The Journal added yesterday:

The [Standard and Poor's] 500 and Nasdaq Composite extended their record-setting streaks on Thursday, while investors digested the Federal Reserve's latest update on stimulus spending and interest rates.... It was the sixth consecutive record close for both indexes.

The Dow Jones Industrial Average reached a record high this morning, fueled in part by the excellent jobs report.

Circling back to our earlier coverage, at a certain level, none of this should come as too big of a surprise. As the nation crawls out of its pandemic-generated hole, it stands to reason that Wall Street would respond positively.

What's more, any such analysis should come with all kinds of caveats, starting with the most important: The major stock market indexes are not the economy and do not always reflect economic health.

The major indexes' record highs nevertheless stand out, in large part because this is likely the one part of Biden's record that frustrates Trump the most.

It's not just that the Republican promised Americans "the stock market will crash" in the event of a Biden presidency — one of several unfortunate Trump predictions from the fall — it's also Trump's persistent belief that Wall Street offers a real-time barometer of the incumbent president's performance.

Though the former president's Twitter account has been permanently suspended, Trump spent much of his term in the White House bragging about assorted bull markets. This was a matter of intense preoccupation for the Republican, with every new high seen as proof of his genius.

He even incorporated Wall Street into entirely unrelated stories. In late 2019, for example, Trump argued in a tweet that if he were impeached, "it would lead to the biggest FALL in Market History. It's called a Depression, not a Recession!" He was impeached soon after. Investors didn't much care.

Trump spent years operating from the assumption that Wall Street was a direct reflection of the American presidency — and upturns were proof of Oval Office excellence. That never made any sense, but as the major indexes reach new heights under Biden, I'll look forward to the explanation as to why the stock markets are no longer politically relevant.

[AV8R]

Oh what a difference a week makes.
Markets have been declining for days now and that Nov jobs report was a real eye opener, eh?

[RPlant]

Oh what a difference a week makes.
Markets have been declining for days now and that Nov jobs report was a real eye opener, eh?

You failed to mention unemployment is down to 4.2%. How much job growth can you have at full employment my man?

You don't think the omicron variant might, just might have had an impact on the market?

Keep spinning though, the exercise is good for you.

[kevwr1962]

Oh what a difference a week makes.
Markets have been declining for days now and that Nov jobs report was a real eye opener, eh?

No shit. My 401K is barely ahead of when Biden took office. Great job. Maybe he should call Barry for some advice.

"You don't think the omicron variant might, just might have had an impact on the market?"

Why? When the Delta variant was announced, the market was actually going up. Just blame Trump.