The Dow Jones Industrial Average closed at an alltime high today.

[dorndawg]

As did Apple.

Stock Market Today: Dow Closes at Record High After Fed Rate Decision, Powell Speech; Pfizer, Tesla, and More Movers; Oil Prices Fall After COP28 Pledge; Bitcoin Price Stalls

Barron's live coverage of financial markets, from stocks and bonds to oil and crypto.

www.barrons.com

 

[CoastRat.sixpack]

Thanks Biden.

 

[mstateglfr]

I learned 4-7 years ago that the stock market's status is how the economy should be assessed.
So it looks like the economy has never been better.

 

[HotMop]

Has it caught up to I flation yet?

 

[dorndawg]

Has it caught up to I flation yet?

Yes, DJIA is up 9.2% in the last year.

 

[WilCoDawg]

I learned 4-7 years ago that the stock market's status is how the economy should be assessed.
So it looks like the economy has never been better.

I think you forgot these: ***

 

[thatsbaseball]

Fed dropping interest rates in time for the "24" elections. As Gomer Pyle would say ..... "surprise, surprise, surprise"

 

[OG Goat Holder]

Damni it dorn. When nobody talks about the stock market, it soars.

Or is that people only bltch when things are bad? I don't know.

 

[dorndawg]

Feds dropping interest rates in time for the "24" elections. As Gomer Pyle would say ..... "surprise, surprise, surprise"

Rates remained unchanged today. They signaled 3 cuts for 24 but that's in no way binding.

 

[LordMcBuckethead]

Has it caught up to inflation yet?

Yes, it has actually and has surpassed it by 17%.
Follow my logic here. Let's say total inflation is at 20% since March 1, 2020. It may even be 29%, but it should be discounted because 9% of that inflation was going to happen anyway under normal circumstances.

So, 20% pandemic related inflation over 4 years. The S+P is up 37% with 3.5 more months to run since March 1, 2020. So even with inflation, the S+P market is up 17% overall on an average of 4.25% per year since the pandemic started outside of inflation.

Say what you want about inflation, money spent by both presidents, and both congresses...... this is after a complete breakdown of supply chains and a potential global major depression avoided. Inflation is cheap compared to what could have been lost.

Considering the alternative, 4.25% increase year over year is pretty dang good.

Dow is a different story, but similar.

 

[LordMcBuckethead]

Rates remained unchanged today. They signaled 3 cuts for 24 but that's in no way binding.

If the markets didn't close after powell talking, the market would have kept gaining.

 

[LordMcBuckethead]

Bet you don't see Biden calling a special 17n press conference to announce the Dow's highest close ever.... like T did.

 

[Drebin]

Yes, DJIA is up 9.2% in the last year.

Cool, I'm gonna hit the krogers and get me some of those cheap eggs.

 

[thatsbaseball]

You can probably pick up some additional coin by shorting Sept gasoline futures

 

[DesotoCountyDawg]

I’ll be really surprised if they cut interest rates.

On another note, crude oil almost looks like a bear market right now. I imagine OPEC and OPEC+ will announce more cuts to production to try and stop the bleeding.

 

[dorndawg]

Cool, I'm gonna hit the krogers and get me some of those cheap eggs.

Angeled eggs only for me, this home is sanctified.

 

[BirdPuppy]

Dow all-time highs thread on SPS and the top story on Drudge. That is your signal to start taking some off the table and start throwing out some shorts. Home builders ETF (XHB) and S&P will do.