Stock Market

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Dan1100
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Re: Stock Market

#526

Post by Dan1100 »

Suranis wrote: Mon Mar 16, 2020 3:56 pm I cant wait to tell MAGAmorons who bing up Obama that trump added 2 trillion dollars to the national debt in 2 weeks by throwing money at the stock Market.

The result of todays throwing money at the problem is to raise the DOW 700 points over the opening bell at 11:26... and then it started falling again and its below the opening bell again. Either Trump has investments that he is desperate to get the price up to, and/or he is terrified of "now we are worse off than under Obama."
Someone more knowledgable in the specifics please correct me, but ...

It's bad, but it's not quite that.

They "printed money" and then loaned it to the banks at effectively 0 interest.

It dilutes the dollar, but it doesn't add to the National Debt.

:sarcasm: It worked great for Venezuela. /end sarcasm
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Chilidog
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Re: Stock Market

#527

Post by Chilidog »

Ah, the good old days of stagflation
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Re: Stock Market

#528

Post by ZekeB »

Chilidog wrote: Mon Mar 16, 2020 5:48 pm Ah, the good old days of stagflation
Back when America was great.
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Re: Stock Market

#529

Post by RTH10260 »

Orlylicious wrote: Mon Mar 16, 2020 3:43 pm IMPOTUS is a DOTARD. Now he says Recession but they're doing such a great job. "A month ago nobody knew about this". "The media has been very fair".

:snippity:
Who knew that Economy 101 would be so difficult :twisted:
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Re: Stock Market

#530

Post by RTH10260 »

WaPo coronavirus newsletter wrote:All major U.S. indexes are now in a bear market and the Dow had its worst day since 1987.
#MAGA :sarcasm:
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bob
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Re: Stock Market

#531

Post by bob »

WaPo coronavirus newsletter wrote:All major U.S. indexes are now in a bear market and the Dow had its worst day since 1987.
October 19, 1987 was the largest single-day percentage drop in this history of the DJIA.

Today was the second largest, eclipsing every down that led up to the Great Depression.

Today was also the largest single-day point drop, eclipsing the record set on ... Thursday.
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Re: Stock Market

#532

Post by Orlylicious »

How ugly could it get? Trump faces echoes of 1929 in coronavirus crisis.
Forecasters see historic job losses and deep economic pain on the horizon — but with a sharp rebound, if Congress steps up.
By BEN WHITE 03/16/2020 08:21 PM EDT

The early signals from the coronavirus crisis point to a scale of damage unseen in the modern U.S. economy: the potential for millions of jobs lost in a single month, a historic and sudden plunge in economic activity across the nation and a pace of sharp market swings not seen since the Great Depression.

As the coronavirus outbreak ravages a paralyzed nation, Wall Street suffered another brutal bloodbath on Monday with the Dow Jones Industrial Average diving around 13 percent in its worst percentage loss since 1987’s “Black Monday” crash. A reading on business conditions in the New York area plunged a record 34.4 points to -21.5 in March, suggesting a recession is underway that could be sharp and deep as revenue quickly bleeds out of major industries from airlines to hotels, restaurants, bars and sports leagues.

The Standard & Poor’s 500-stock index, the broadest gauge of U.S. companies, fell 12 percent. It has shed $6 trillion in value since peaking in February, slamming retirement accounts for millions of Americans in ways that could have psychological ripples for many months to come. The last time the S&P had three days of similar wild swings was 1929, on the eve of the Great Depression.

The S&P is now only around 300 points away from wiping out all its gains since Donald Trump won the White House in November 2016. President Trump himself, one of the grandest boasters of the strength and resilience of markets and the American economy, appeared to capitulate on Monday with a more somber tone reflecting the immense magnitude of the challenge facing the nation.
https://www.politico.com/news/2020/03/1 ... omy-133053

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Re: Stock Market

#533

Post by Princess foofypants »

Interesting little side note about interest rates... 30 year fixed mortgages are actually higher now than they were a month ago. By a lot. Banks don’t seem to believe that what the Fed is doing is sustainable. I wanted to refinance but rates today are 3/4 of a point higher than our original mortgage from 2013.
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Dan1100
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Re: Stock Market

#534

Post by Dan1100 »

So at any point do they just close the stock exchange for a month?

Ideally before we start getting some major cities as bad as Northern Italy.
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Re: Stock Market

#535

Post by Whatever4 »

Princess foofypants wrote: Tue Mar 17, 2020 12:15 am Interesting little side note about interest rates... 30 year fixed mortgages are actually higher now than they were a month ago. By a lot. Banks don’t seem to believe that what the Fed is doing is sustainable. I wanted to refinance but rates today are 3/4 of a point higher than our original mortgage from 2013.
We just closed on a refi last week. I asked about adjusting the rate after the first fed cut, but they said mortgage rates were actually going up. The banks know the economy is slowing and there’s greater risk to them of people defaulting. (We turned a 30 year into a 15.)
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Re: Stock Market

#536

Post by Orlylicious »

Maybe that's part of the Fed's panic (they know something we don't) -- they seemed to be counting on refi revenue at the banks.

NY Times has an S&P chart -- it's almost like IMPOTUS didn't happen according to his metrics. :P

Trump Bump Deflated.JPG

US Premarkets are up, mideast markets and South Korea are down.
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Re: Stock Market

#537

Post by Lani »

Dow +800.00 / +3.92%
Level 21,199.00

3:46am EST
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Re: Stock Market

#538

Post by ZekeB »

If Trump would shut his mouth the market might stabilize. He doesn't realize how much the public understands what a liar he is.
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Re: Stock Market

#539

Post by Volkonski »

The New York Times
@nytimes
·
6m
Volkswagen said it would close most of its European factories because of the coronavirus, adding the world’s largest carmaker to the growing list of large manufacturers that have shut down production
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Re: Stock Market

#540

Post by Lani »

Dow -199.00 / -0.98%
Level 20,200.00
Data as of 5:36am ET
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Re: Stock Market

#541

Post by neonzx »

Lani wrote: Tue Mar 17, 2020 5:58 am Dow -199.00 / -0.98%
Level 20,200.00
Data as of 5:36am ET
That's a wild swing in two hours.
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Re: Stock Market

#542

Post by Volkonski »

Airbus is shutting down in France and Spain. Renault is shutting down in Spain.
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Re: Stock Market

#543

Post by kate520 »

Once again a Republican president nearing the end of his term Fuchs things up so royally that the next resident has little chance of enacting his plans, playing save the republic instead.

By the minute. :smokeears:
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Re: Stock Market

#544

Post by RTH10260 »

Volkonski wrote: Tue Mar 17, 2020 5:47 am The New York Times
@nytimes
·
6m
Volkswagen said it would close most of its European factories because of the coronavirus, adding the world’s largest carmaker to the growing list of large manufacturers that have shut down production
Which will close down a huge line of third party manufacturers in the supply line.

Apart, it will only be a few days until non-essential businesses will be ordered closed.
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Re: Stock Market

#545

Post by Slim Cognito »

I've been working on taxes this morning (I'm already in a bad mood, right?) and now I see the market is up 600-700 and I see a Barron's headline that reads The Fed is Buying Short Term Corporate Debt, and It's Boosting Stocks.

Here's the link but I don't have a Barron's script.

https://www.marketwatch.com/articles/th ... latestnews

What does that mean in the short-term and what, if any, are the long term dangers? I know nothing about the markets but I do know when I see numbers rise too quickly, it doesn't give me confidence.
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Re: Stock Market

#546

Post by Suranis »

Ya it was going up till 12:15, then Trump started a Press conference and its on its way down again. :towel:
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Re: Stock Market

#547

Post by RTH10260 »

Suranis wrote: Tue Mar 17, 2020 1:11 pm Ya it was going up till 12:15, then Trump started a Press conference and its on its way down again. :towel:
Does the SEC have no voice on ordering individual-1 to refrain from commenting during trading hours?
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Re: Stock Market

#548

Post by bob »

RTH10260 wrote: Tue Mar 17, 2020 3:49 pm
Suranis wrote: Tue Mar 17, 2020 1:11 pm Ya it was going up till 12:15, then Trump started a Press conference and its on its way down again. :towel:
Does the SEC have no voice on ordering individual-1 to refrain from commenting during trading hours?
No.
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Re: Stock Market

#549

Post by RTH10260 »

Federal Reserve launches special fund to keep credit flowing in U.S. economy during coronavirus scare

Heather Long
March 17, 2020 at 4:55 p.m. GMT+1

The Federal Reserve is launching a special fund to keep credit flowing in the U.S. economy, yet another emergency measure as the world spirals toward a recession.

Starting Tuesday, the central bank will buy significant amounts of commercial paper, the short-term loans that businesses rely on for funding to pay bills and other expenses. Stocks rallied on the announcement, with the Dow Jones industrial average jumping more than 500 points.

The Fed did the same thing during the Great Recession and ended up purchasing about $350 billion worth of these loans, or about 20 percent of this market.

Buying this debt helps ensure there is a financial lifeline for businesses and households to make it through this crisis. The commercial paper market directly impacts the mortgage and auto loan markets in addition to credit for small and large businesses.

“By ensuring the smooth functioning of this market, particularly in times of strain, the Federal Reserve is providing credit that will support families, businesses, and jobs across the economy,” the central bank said in a statement.



https://www.washingtonpost.com/business ... s-economy/
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Re: Stock Market

#550

Post by Orlylicious »

According to CNN, Mnuchin said at the GOP Senate lunch that unemployment may go to 20%.

Dow futures fall 400 points in overnight trading after rebound on hopes for $1 trillion stimulus
PUBLISHED TUE, MAR 17 20206:03 PM EDTUPDATED 8 MIN AGO
Yun Li @YUNLI626

Stock futures dipped in overnight trading on Tuesday as the markets remained highly volatile with the government response to the coronavirus fallout unfolding.

Futures on the Dow Jones Industrial Average fell about 400 points, indicating a 600-point loss at Wednesday’s open. The S&P 500 futures were also down about 45 points.

The market rebounded Tuesday from their deepest rout since 1987 as investors grew hopeful that the Trump administration’s massive fiscal stimulus plans will rescue the economy, which is at risk of falling into a recession due to the coronavirus impact.

The White House is weighing a fiscal package of more than $1 trillion that includes direct payments to Americans and financial relief to small businesses and the airline industry. Treasury Secretary Steven Mnuchin also said corporations will be able to defer tax payments of up to $10 million while individuals could defer up to $1 million in payments to the Internal Revenue Service.

Mnuchin told Republican senators that unemployment could reach 20% if Congress doesn’t enact the trillion-dollar stimulus package he proposed, CNBC reported Tuesday evening, citing a source familiar with the matter.
https://www.cnbc.com/2020/03/17/stock-f ... mulus.html
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