All 3 stock indexes close at all time record highs

[Johnny2X2X]

Last edited Fri Jul 23, 2021, 04:05 PM - Edit history (1)

My 401K is doing great this year. I had a bet with a freind when Biden took over, the DOW was at about 30K, I bet the DOW would close above 35,000 before we saw it below 25,000. I win $100 today if it closed above 35K. It's at 34990 right now.

Both the NASDAQ and S& are within points of their records too.

Markets are on a winning streak, and why shouldn't they be, we're in the middle of one of the best economic years since WWII. Job growth is staggering. Wages are seeing unprecedented growth. Things are turning around.

How much you want to be FOX ran with Monday's stock news(Monday was down big) all day long, but haven't said a peep since then?

[Walleye]

1. Mondays sell-off enough to turn Fox News around on the vaccines. Principles are one thing but $$

Many Thanks to my brother and sister-in-law who advised me to put my pension funds and 401(k) into the stock market. Now I actually am retired and not in debt. 👏

[Johnny2X2X]

6. I think the flip on vaccines was more politics

I think it became clear to Republican leaders that they were going to get the blame for this next wave. That they were going to lose 100s of thousands of reliable Republican voters to the disease and lose support among the families of the deceased too. People change their feeling pretty quickly when they lose a loved one to the Hoax and then they look to blame the people who called it a hoax. And if the economy faltered again, they were hoping to be able to blame Biden, but I think it became clear they set themselves up to take the blame.

[Walleye]

9. That's a pretty good analysis. Slow as they are they get it eventually

And the point about the loved ones of the deceased . I thought, of everyone who died there are at least five or six that are really, really hurt by it. Seeing your mom on a ventilator is an experience that no one forgets.

[Johnny2X2X]

10. And I think they were too late

The wave is already going crazy, and although there are some break through infections in the wave, almost no one dies from Covid if they've been vaccinated. So the dead are going to be mostly Trump voters. Even in the cities, where vaccination rate can be low, I think the people who are likely to vote in the cities are very likely vaccinated.

And I honestly think a Republican statistician or group of them that specialize in campaigns sounded the alarm for the GOP. They used likely voter models to figure out the impact, and I would bet you they saw some swing states going bluer just as a result of Trump voters dying from Covid.

[ananda]

2. Can the market go on like this?

Not that I'm compaining, but still....

[drray23]

7. probably not but on average it does.

My yield is nearly 14 % a year over the past 10. Some years were negative and some over 25 %. Most finance advisors assume that once you get near retirement you shift to safer investments and still can easily produce at least 4 % . That has been true for the past 50 years.

[Walleye]

8. My S&P index funds are doing great

[Amishman]

3. Where we go from here all depends on inflation

5% wage growth doesn't help if inflation is higher.

The stock market is soaring while bond yields are tanking - this is a really unusual and worrying combination. The reason is that financial markets are over capitalized.

The reverse repo market - where banks can park excess reserves short term in exchange for a pittance of interest - hit $1 trillion. That much excess liquidity is extremely worrying.

That being said, low interest rates and the prospect of significant inflation means this is a good time to take on some debt - as long as the rate is fixed.

[former9thward]

4. The Dow on Jan 20, 2021 was 30,931.

[Chainfire]

5. Well, that just can't be

If Biden was to be elected, the markets would crash and the rest of the economy will crash. Donald Trump, through his unchallenged genius and steadfast leadership carries the economy of the nation, nay, the world, on his broad shoulders as only a highly successful businessman could. Only he can do this.

[GoodRaisin]

11. Yeah, the market falls one day and the news is "it's tanking because of Covid".

Nonsense. It's down because there are more sellers that day than buyers. If it was "because of Covid" it would continue to sink.

I pretty much ignore "The Dow is down _____" threads these days.

[Ron Green]

12. It's all funny money.

Wall Street “earnings” are not wealth; they’re a CLAIM on true wealth, which is arable land, tools, clean air and water, connected communities, healthy people and relationships, and so on.

Judy Woodruff gives the Wall Street up-or-down report every night, and Why? It’s like a mantra in church, made to be uttered regularly by the faithful - not to question or learn, but to affirm.

I have stocks and bonds that are going up, but I sure don’t see it as good.

[Johnny2X2X]

13. All 3 Indexes close at new records!

DJIA Closes at 35,061.91, a new all time record, first time closing over 35,000.
NASDAQ Closes at 14,836.99 ,a new all time record
S&P 500 Closes at 4,411.81, a new all time record

The Biden effect.