LittleSprocket
Topic Author
Posts: 158
Joined: Sun Oct 30, 2016 2:56 am

Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 2:58 pm

“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.”

So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.

https://www.cnbc.com/2019/07/11/stock-m ... e-cut.html
 
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Aaron747
Posts: 9153
Joined: Thu Aug 07, 2003 2:07 am

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 3:01 pm

LittleSprocket wrote:
“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.”

So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.

https://www.cnbc.com/2019/07/11/stock-m ... e-cut.html


Not this again - POTUSes always take credit for good economic results and shirk it when shit hits the fan but they do not run the economy in any meaningful way - symbolic at best. You have other investors and continued foreign interest in US treasury bonds to thank, not 45.

The DJIA is only a beneficial KPI for those with skin in the market. For most Americans, real (not average) wages and key cost of living indicators matter far more - and for now, they are just okay, and definitely not great.
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
 
zakuivcustom
Posts: 2493
Joined: Sat Jun 10, 2017 3:32 am

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 3:14 pm

LittleSprocket wrote:
So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.


Umm...let see...

Previous high was 26828.39, on Oct. 3, 2018. So 27000 points represent a <1% gain for 9 months.

Of course YTD return is high - the stock market was having a mini crash right around Christmas, with DJIA falling to 21792.80 on Christmas Eve, and was at 23346,24 on Jan. 2. That doesn't change the fact that stock market had been literally flat since Jan. 2018 or so.

P.S. You have Jerome Powell to thank for DJIA reaching 27000, not IQ45. Economic outlook around the world is still weak, economic growth in US YoY is nothing to write home about (Unless you consider 2-3% growth that great).
Last edited by zakuivcustom on Thu Jul 11, 2019 3:16 pm, edited 1 time in total.
 
MaverickM11
Posts: 17276
Joined: Thu Apr 06, 2000 1:59 pm

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 3:16 pm

LittleSprocket wrote:
“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.”

So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.

https://www.cnbc.com/2019/07/11/stock-m ... e-cut.html

Still vastly outperformed by Obama lol
https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart
E pur si muove -Galileo
 
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einsteinboricua
Posts: 7284
Joined: Thu Apr 15, 2010 4:11 pm

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 3:33 pm

LittleSprocket wrote:
“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.”

So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.

I can't keep up with the constant back and forth:
1. Are low rates a good thing or a bad thing? You wouldn't know since Trump kept complaining about low rates during Obama's presidency but seems to like them now.
2. Is the stock market an indicator of a good economy or not? You wouldn't know since Republicans kept saying that it wasn't during the Obama years.
3. Are we breaking new levels or are these fake numbers? You wouldn't know since before the election it was all doom and bloom despite the stock market almost doubling since the lows of the Great Recession.
4. Can we blame a president if the stock market experiences a correction? After all, logic dictates that if I'm responsible for the rise and demand credit, I should be liable for the crashes and downturns. I mean, wasn't that the argument du jour with Obama?
5. Are we truly giving it to the "elites" when their money is growing while the Appalachian or Rust Belt family is not benefiting? Asking for a friend...

In the meantime, yes...thank you Trump for not messing up the growth rates that have been in place since before you even announced your candidacy.
"You haven't seen a tree until you've seen its shadow from the sky."
 
MaverickM11
Posts: 17276
Joined: Thu Apr 06, 2000 1:59 pm

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 4:31 pm

einsteinboricua wrote:
LittleSprocket wrote:
“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.”

So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.

I can't keep up with the constant back and forth:
1. Are low rates a good thing or a bad thing? You wouldn't know since Trump kept complaining about low rates during Obama's presidency but seems to like them now.
2. Is the stock market an indicator of a good economy or not? You wouldn't know since Republicans kept saying that it wasn't during the Obama years.
3. Are we breaking new levels or are these fake numbers? You wouldn't know since before the election it was all doom and bloom despite the stock market almost doubling since the lows of the Great Recession.
4. Can we blame a president if the stock market experiences a correction? After all, logic dictates that if I'm responsible for the rise and demand credit, I should be liable for the crashes and downturns. I mean, wasn't that the argument du jour with Obama?
5. Are we truly giving it to the "elites" when their money is growing while the Appalachian or Rust Belt family is not benefiting? Asking for a friend...

In the meantime, yes...thank you Trump for not messing up the growth rates that have been in place since before you even announced your candidacy.

I think they call all that cognitive dissonance TDS :rotfl:
E pur si muove -Galileo
 
seat64k
Posts: 417
Joined: Fri Mar 14, 2014 11:48 pm

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 4:47 pm

LittleSprocket wrote:
So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.


Dream on. If the DJIA is your metric, your economy is doing terribly.

zakuivcustom wrote:
Previous high was 26828.39, on Oct. 3, 2018. So 27000 points represent a <1% gain for 9 months.


It's even worse if you go back further. 26616.71 on Jan 22, 2018. That means barely 1.5% in up 18 months. To put that in context, the DJIA took only 15 months to recover from the 2008 crash, and just three more weeks to climb 1.5% over pre-crash levels. By the 18 month mark it was up 5.5%
 
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Tugger
Posts: 9179
Joined: Tue Apr 18, 2006 8:38 am

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 5:19 pm

And what is the national debt? And why is it growing when we are making more money than ever? When we have an economy that is stronger than ever?

Based on that there is no reason at all for their to be increasing debt. If someone wants to take credit for an economy they MUST take credit for the spending of the government.

Tugg
I don’t know that I am unafraid to be myself, but it is hard to be somebody else. - W. Shatner
Productivity isn’t about getting more things done, rather it’s about getting the right things done, while doing less. - M. Oshin
 
dmg626
Posts: 270
Joined: Mon Jan 19, 2015 3:47 pm

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 5:44 pm

LittleSprocket wrote:
“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.”

So much for all the leftist hyperbole about Trump crashing the economy if elected. Thank you President Trump for my 19% YTD rate of return.

https://www.cnbc.com/2019/07/11/stock-m ... e-cut.html


Reasonable people agree, the left believes that every piece of economic data is bad and only when a liberal is back in office will any economic news be good again. My 401k and investments are doing quite well, glad to be in it during this time period, ups and downs will occur though, and once again reasonable people understand this cycle
 
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Tugger
Posts: 9179
Joined: Tue Apr 18, 2006 8:38 am

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 5:59 pm

dmg626 wrote:
Reasonable people agree, the left believes that every piece of economic data is bad and only when a liberal is back in office will any economic news be good again. My 401k and investments are doing quite well, glad to be in it during this time period, ups and downs will occur though, and once again reasonable people understand this cycle

At least you agree that "the current administration" is not the reason for the economy now. Just the normal cycle, it goes down for one admin, up for the next, it all depends on luck of the draw. You are just lucky it is now (as you state).

Honestly though, our point of view (I am having the same success in my investments :bigthumbsup: ) is a problem for many economies. Older people tend to only care about their immediate needs, their retirement in two, ten, twenty years, so don't care about "the future". This leads to greater debt, lower investment in needs for the younger population etc. Why encourage that when I won't need it use it or care since I'll be dead before it affects me? I try to counter that drive though if I can.

Tugg
I don’t know that I am unafraid to be myself, but it is hard to be somebody else. - W. Shatner
Productivity isn’t about getting more things done, rather it’s about getting the right things done, while doing less. - M. Oshin
 
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einsteinboricua
Posts: 7284
Joined: Thu Apr 15, 2010 4:11 pm

Re: Dow breaks 27,000 for the first time ever

Thu Jul 11, 2019 8:14 pm

dmg626 wrote:
Reasonable people agree, the left right believes that every piece of economic data is bad and only when a liberal conservative is back in office will any economic news be good again. My 401k and investments are doing quite well, glad to be in it during this time period, ups and downs will occur though, and once again reasonable people understand this cycle

Fixed it for you.

Remember how unemployment kept going down and people kept saying that we had to look at the REAL unemployment? Heck, I remember the unemployment being over 42%. Every time the unemployment numbers came out, they were fake or were never good enough. The stock market reaching records was to be dismissed because it wasn't an effective economic indicator. And when GDP numbers came out, they were also fake or never good enough. If oil prices went up, it was the president's fault; when they went down, it was the free market (that situation now is reversed where if they go up it's the free market and if they go down it's thanks to the president).

Which one is it then?
"You haven't seen a tree until you've seen its shadow from the sky."

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