Stock Market

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tek
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Re: Stock Market

#626

Post by tek »

I guess the good news about my instant immersion in some projects to bend the curve on med device and PPE availability has an upside:

I have not seen the news today until now.
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Re: Stock Market

#627

Post by kate520 »

Now we get a chance to see sharks in action as disaster capitalism hits our shores. How many banana republics did we rape and pillage over the years? We’d just about run out of them before trump came along and turned us into one.

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Re: Stock Market

#628

Post by bob »

FOX: Dow posts 2,112 point gain biggest ever:
Trump supports reopening businesses sooner rather than later

U.S. equity markets registered the strongest one-day rebound in history on Tuesday amid investor optimism that members of Congress will overcome their differences to reach a deal on a nearly $2 trillion COVID-19 stimulus package.

In the final hour of trading, gains picked up steam giving the Dow Jones Industrial Average a 2,112 point gain, the biggest ever, or 11 percent, while the S&P 500 gained over 9.3 percent and the Nasdaq over 8.1 percent.
In addition to being the largest single-day point gain, it was the fourth-largest percent gain (the largest three being during the leadup to the Great Depression).
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TexasFilly
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Re: Stock Market

#629

Post by TexasFilly »

Haha!

Just like the last sugar high, the $2 trillion sugar high will last a couple of days until the unemployment numbers come out and the MSM starts covering the personal stories of the dead, the backup in morgues and funeral homes, the families who couldn't hold funeral services, etc.
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Re: Stock Market

#630

Post by Suranis »

Could be to do with Pelosi's plan that came out earlier.
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Re: Stock Market

#631

Post by MN-Skeptic »

I'm sure that the increase in the stock market today is entirely the result of Congress getting close to a deal on a stimulus bill. It's funny, I was reading a thread over at FreeRepublic and they were convinced that the rise was a result of Trump declaring that we'd all be back to business by Easter.

This is a temporary increase. As TexasFilly points out, there's a lot of really bad news coming in the near future. This current high will quickly melt away.
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Re: Stock Market

#632

Post by neeneko »

I am thinking back to an old joke about how every time Greenspan gets the sniffles the stock market tanks. So maybe Powell had a nice lunch with ice cream and the market went up?
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Re: Stock Market

#633

Post by RoadScholar »

...aaaand after shooting up ~800 points first thing, the Market is now back in loss territory.
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Re: Stock Market

#634

Post by Suranis »

And is well into positive territory now. Rational thinking is completely pointless trying to game this. Guess the unlimited money is having the effect.++--
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Re: Stock Market

#635

Post by Somerset »

It's a day trader's happy time. Not so much for the longer term investor.
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Re: Stock Market

#636

Post by Tiredretiredlawyer »

RoadScholar wrote: Wed Mar 25, 2020 10:06 am ...aaaand after shooting up ~800 points first thing, the Market is now back in loss territory.
Shirley this can't be good for Trump's heart or emotional health anger management. This gives me some karmic relief. 8-)
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Re: Stock Market

#637

Post by Orlylicious »

Bernard is threatening a HOLD on the whole Senate bill if they don't make changes. One Senator can do it. Market lost lots of their gains from Dow +900 to +495.

Airline bailouts include exec pay, bonuses and apparently some are considering not taking it.

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Bernard's threat had an impact on the market. I can't imagine this was helpful with leadership and members. Three GOP senators had objections, it was stopped -- why now Bernard??


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tek
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Re: Stock Market

#638

Post by tek »

totally in character:
My way or the highway.

Sit the f'k down, Bernie.
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Re: Stock Market

#639

Post by bob »

NBC: Dow drops more than 800 points as worries over coronavirus intensify:
Stocks sank on Wednesday as Wall Street kicked off the second quarter on a sour note thanks to persistent concerns over the spread of the novel coronavirus.

The Dow Jones Industrial Average traded more than 800 points lower, or 4%. The 30-stock average hit a session low around 12:40 p.m. ET, trading more than 950 points lower. The S&P 500 slid 4.2% while the Nasdaq Composite lost 3.8%.

President Donald Trump said Tuesday evening the U.S. should prepare for a “very, very painful two weeks” from the rampant coronavirus. White House officials are projecting between 100,000 and 240,000 virus deaths in the U.S.

“This is going to be a rough two-week period,” Trump said at a White House press conference. “When you look at night the kind of death that has been caused by this invisible enemy, it’s incredible.”
But at least the impeached president wasn't wearing a tan suit.
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Re: Stock Market

#640

Post by Addie »

Bloomberg: Oil plunges below zero for first time in unprecedented wipeout

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

The price on the futures contract for West Texas crude that is due to expire Tuesday fell into negative territory -- minus $37.63 a barrel.

That’s right, sellers were actually paying buyers to take the stuff off their hands.

The reason: with the pandemic bringing the economy to a standstill, there is so much unused oil sloshing around that American energy companies have run out of room to store it.

And if there’s no place to put the oil, no one wants a crude contract that is about to come due.
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Re: Stock Market

#641

Post by Dan1100 »

Addie wrote: Mon Apr 20, 2020 4:00 pm
Bloomberg: Oil plunges below zero for first time in unprecedented wipeout

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

:snippity:
Isn't that going to bankrupt the Russians almost immediately?
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Re: Stock Market

#642

Post by Volkonski »

Dan1100 wrote: Mon Apr 20, 2020 4:12 pm
Addie wrote: Mon Apr 20, 2020 4:00 pm
Bloomberg: Oil plunges below zero for first time in unprecedented wipeout

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

:snippity:
Isn't that going to bankrupt the Russians almost immediately?
Many other oil-producing countries as well. :?
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Re: Stock Market

#643

Post by Chilidog »

so how exactly does it work when prices are negative?

does that mean that Texas has to pay US to take their oil?
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Re: Stock Market

#644

Post by Dan1100 »

Chilidog wrote: Mon Apr 20, 2020 4:39 pm so how exactly does it work when prices are negative?

does that mean that Texas has to pay US to take their oil?
The way I understand it, which is probably grossly over simplified:

You have a contract to take some oil. You don't have any place to put it because you are just some guy in a cube and were planning on selling the contract. The cost of storing it exceeds its value. You can't flush it down the sewers, so you have to pay someone to take the contract because it will cost them money to store it.
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Re: Stock Market

#645

Post by TexasFilly »

This article from CNBC explains the oil futures a bit more: https://www.cnbc.com/2020/04/20/oil-mar ... emand.html
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Re: Stock Market

#646

Post by neonzx »

TexasFilly wrote: Mon Apr 20, 2020 4:53 pm This article from CNBC explains the oil futures a bit more: https://www.cnbc.com/2020/04/20/oil-mar ... emand.html
So I have to pay inflated prices based on the futures market while making those in that get rewarded in good times. But I also now have to pay a because of lack of demand. Maybe the traders should have set up a rainy day account like average people do. Greedy Wall Street vultures. Nobody was helping average people with cash when we were at $4.00/gallon.
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Re: Stock Market

#647

Post by Whatever4 »

That’s the thing about commodities: you screw up, you have to figure out where to put your pork bellies or corn or oil when they deliver it.
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Re: Stock Market

#648

Post by fierceredpanda »

The shale industry is going to get wiped out, and I'm not particularly sad about that.
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Re: Stock Market

#649

Post by Suranis »

Yes, let me shed a tear for the Fracking industry.
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Re: Stock Market

#650

Post by TexasFilly »

fierceredpanda wrote: Mon Apr 20, 2020 5:09 pm The shale industry is going to get wiped out, and I'm not particularly sad about that.
I was digging around for news of new layoffs in the industry but came up short. You know they are coming.

My son has two friends who went to Texas A&M. One became a Petroleum Engineer, the other a Mechanical Engineer who happens to work in an oil-related business. The ME is much smarter. If you've lived in Houston for long enough, you see the boom and bust, and I've seen Petroleum Engineers who have never gotten re-employed in that field. At least the ME has skills that are applicable elsewhere.
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