The Market Is Set To Soar Today

[gab13by13]

TSF is going to have a sad. maybe even DJT will go up a point? nah.

https://www.msn.com/en-us/money/markets/stocks-soar-before-the-open-as-fed-s-big-rate-cut-boosts-sentiment-u-s-economic-data-and-fedex-earnings-on-tap/ar-AA1qPpkm?ocid=msedgdhp&pc=HCTS&cvid=2c0cd4ebc3fd40f28c15f6f2fb771771&ei=13

[NoMoreRepugs]

1. Employment growth, wage growth, increased assets for the bottom 50%, winning the battle with inflation -

Corporate profits up, record stock markets - all while Republicants tried mightily to hurt the economy. Toot that horn Democrats. Toot it LOUD.

[Johnny2X2X]

2. DOW futures up 500

I think the a 50 basis point rate cut was largely priced in yestderday, but now maybe the movers and shakers are ready to buy to take advantage of some good deals and new prospects now with less corporate money on the sidelines.

Powell's overall take on the economy being strong were important.

The overnight lending rate being higher causes some business to park their money and take the interest rather than invest it, that 50 point cut might hae changes the math for some new projects for some businesses, so you might see some new factory and investments announced soon.

Republicans are whining that the Fed is influencing the election, so you know things are good.

[gab13by13]

3. I think only 25 was priced in,

but as I said, I know shit about the market, I listen to my daughter.

[Johnny2X2X]

6. Odds were 60/40 in favor of a 50 point cut

I think if it would have been 25 you would have seen a modest sell off.

I'm interested to see if this 50 point cut makes much of a difference in the bond market.

[unblock]

11. The market had been expecting rate cuts of about 1.25% by the December meeting, so I don't think .25% vs. .50% this time

really made much of a difference.

I think the market is reacting more to powell's words and a sense that the fed will deliver the rate cuts that the market is expecting overall.

[Johnny2X2X]

13. Probably true

His words on the strong economy and the plan for going forward with more rate cuts were powerful.

The plan is for 25 in November and December for 1 full point before 2025.

[MaryMagdaline]

4. So happy for us and so happy for Joe Biden!

I can’t say this enough - he deserves this win!

[gab13by13]

7. Thanks for the reminder

I see the campaign ads in Pa. where Magats make fun of Bidenomics. Now when I see those ads I will laugh out loud.

It is Bidenomics baby. President Biden did a lot to help curb inflation, not just the Fed.

[Happy Hoosier]

5. We saw a lot of market thrash yesterday.

I think lots of people anticipated a surge and were doing some rapid profit taking cycles. Hope that crap is over with, for the most part, that market has a big day. My 401K is near a milestone it's been teasing for a month!

[spanone]

8. I couldn't believe the market yesterday....Looks like a good one today!!!!

[gab13by13]

9. I don't suppose many Magats watched Jerome Powell yesterday

He totally demolished their campaign ads.

The best part of watching Jerome was all of the right wing financial journalists trying to stump Jerome, trying to argue about what he did. he answered all their questions matter of factly. Maybe Democrats can make campaign ads from Jerome's speech?

TSF did nominate Jerome to the Fed chair, bwahahaha.

[unblock]

10. Index futures up 1-2%, djt down 5% in premarket trading

[gab13by13]

12. Fantastic, I'm going golfing.

[eppur_se_muova]

14. Already crossed the 42k mark briefly, an intraday record.

Mon and Wed were record closes.

[LetMyPeopleVote]

15. This makes me smile

Link to tweet