Stock market today: Stock rally leaves S&P 500, Nasdaq within inches of new records, Dow gains 400 points

[WarGamer]

This is why you NEVER sell out of fear. Bless the poor souls who sold into weakness in April.

https://finance.yahoo.com/news/live/stock-market-today-stock-rally-leaves-sp-500-nasdaq-within-inches-of-records-dow-gains-400-points-200229154.html

US stocks climbed just points away from record highs on Thursday as the major indexes continued a furious rally.

The S&P 500 (^GSPC) came just shy from its February record of 6,144.15 to gain 0.8%, closing the session at 6,141.02. The Nasdaq Composite (^IXIC) moved up more than 1%, finishing within a handful of points from its own record.

The Dow Jones Industrial Average (^DJI) also roughly 400 points or 0.9%. Nvidia stock (NVDA) was up 1%, building on its record high on Wednesday.

[OC375]

1. Too Big to Fail?

Feels like a lot of eggs in one basket. Entropy is a bear, and I hope it stays away until there’s a better way to value a society.

[MyOwnPeace]

2. So, will IQ45/47 now claim.....

that he’s such a great “business man” that he made all of this happen after his disastrous tariff bullshit - or is Wall Street just ignoring him and doing what they need to do for their own?

[WarGamer]

3. Market makers gonna do what they wanna do... real world situation be damned.

There's investment advice... market always goes up.

Too big to fail, gov't will ALWAYS protect the market.

[edhopper]

10. How did that work in 2008?

[FBaggins]

16. It worked out just fine in 2008

Note the OP - "you should never sell out of fear"

The S&P high point at the start of 2008 was just a tad under 1500 points. It collapse by half over the course of the year.

But today it almost hit a record high of almost 6150. That's a 410% gain over 17 years (over 800% gain from the bottom).

[edhopper]

17. There are those of us who

don't have 17 years.
It took 6 years for the S&P to get back to 1500, and that was ONLY because of what Obama and the Dems did right after the crash.
WHEN the next crash comes, and Trump is in office, do you expect him do do anything to help, or just make it worse.

[FBaggins]

18. You didn't need 17 years

And you shouldn't be invested 100% in stocks if you "don't have" six years. Ten year t-bills returned 20% that same year. Then 8.5% and 16% after a 10% down year. If you were in a portfolio appropriate for your age - you did just fine even over those six years. You were probably back to even in 3-4. It's the people who panicked who suffered. Particularly the people who were 100% in stocks and then panicked.

There are also plenty who badly misunderstand how long they "have". They say "I'm 60 and retiring in five years..." without realizing that some of their portfolio will likely be invested for 20-25 years or more.

[edhopper]

23. I moved in February

to mostly interest baring instruments.

[edhopper]

24. Knowing Trump will crash the Economy

is not panicking, it's being prudent.

[FBaggins]

30. Perhaps hold such comments for a day when the market isn't hitting a new record?

There have been plenty of presidents who make terrible decisions… but that isn’t the same thing as knowing what the impact will be on the markets.

Just a few days ago a significant proportion of DU was certain that war with Iran was going to send oil to $150 and crash the us markets. Instead oil fell dramatically and the market is hitting new highs. April was going to be the worst month for the market since the depression… until it came right back and ended about where it started.

Does any of this mean that Trump’s actions were correct? No… it means that timing the markets is a fool’s game regardless of who the president is.

If he decides to gut financial regulations tomorrow - it will likely be a huge mistake in the long run- but the markets will probably skyrocket.

[edhopper]

31. I look long term

As I did in 2006-2007 when everybody told me the Housing Bubble wasn't real and we weren't heading for a crash.
The Economy is shrinking, Trump's policies can do nothing but end in disaster. The fools on Wall Street never see it coming.

[NCDem47]

27. I'm reaching the same conclusion.

Wall St. pays attention to Wall St. Although, that tariff wobble in April sent a message. But, when it comes to war and conflict? Wall St. in modern age seems to carry on. Although....I am feeling like they punish Democratic Presidents more.

[walkingman]

4. He will until it falls. I don't trust anything about this administration.

[Sympthsical]

5. We bought the dip

Nvidia in the 90s? Chompchompchomp. (We already had a bunch from two years ago and just bought more).

And other things. I’m still 15-20 years from retirement, so turbulence doesn’t bother me in the slightest.

Still, we got us some nice deals in that Trumpian mess.

[WarGamer]

6. Absolutely...

When I saw that W-shaped reversal mid April... BUY BUY BUY.

[MyOwnPeace]

7. And for those that are retired now?.....

And those businesses that had to make major decisions - orders, sales prices, shipping concerns - they should just figure it’s all ‘OK’ now and not worry about what the idiot might do next?

[Sympthsical]

11. Who said any such thing?

I merely noted that the chaos presented an opportunity in the moment.

Nothing about this administration is ok.

[Johonny]

8. Im still running conservative posture

I don't trust the Trump economy

[Melon]

20. It's a tough call. I kept too much in cash now looking at the market.

[Johonny]

28. I moved out before the April crash

But never to cash. A lot of high interest stuff out there and foreign markets.

[edhopper]

9. Dow and Nasdaq still below

where I sold at.
You have great faith in how Trump and the GOP will manage the economy.

[BannonsLiver]

13. Faith and ENTHUSIASM.

[edhopper]

15. BUY, BUY, BUY

The tariffs are working!!!

[WarGamer]

21. As you know... I'm a daily trader so I make more money when the market is more predictable...

And I've been long since late April/early May.

[fujiyamasan]

12. Can't make much sense of the market

But I’m mostly staying invested. May buy puts on SPY at some point to hedge against a pullback. Or keep more cash on hand for dips.

So far the stock market is resilient in-spite of Trump’s craziness.

[Emile]

14. Gasoline seen new gains too.

[Melon]

19. Oil is down and gasoline prices at least local to me have come down each day since the bombing in Iran.

[Emile]

22. Not in Indiana and Illinois. Gas prices have raised

since the bombing.

[Melon]

25. Weird. Oil went down 7.5% the next day. Something local.

[underpants]

29. Up 20 cents or more here. Virginia

[Melon]

32. Chart for you says dropped $.10 overnight. Gas prices naturally rise in the summer

Due to the summer mixture that refinery’s produce and people drive more. Especially towards holidays. Oil is holding so it’s either demand or local.

[Ferrets are Cool]

26. This seems so stupid