Dow breaks above 19,000, S&P jumps over 2,200 as stocks hit record highs
Source: CNBC
U.S. equities opened higher on Tuesday, hitting new all-time highs, as investors awaited housing data and kept an eye on President-elect Donald Trump's policy agenda.
The Dow Jones industrial average broke above 19,000 for the first time ever shortly after the open, with Boeing contributing the most gains. The S&P 500 traded over 2,200 for the first time, as real estate and energy led advancers. The Nasdaq composite rose 0.3 percent, also trading at fresh record highs.
"Global equity markets are reacting positively to new all-time highs in the SPX," said Katie Stockton, chief technical strategist at BTIG, in a note. "Momentum is proving strong enough to overrule overbought conditions, so we think it is appropriate to be buying breakouts."
The three major indexes closed at record levels on Wednesday, along with the small-caps Russell 2000, which continues to outperform the Dow, S&P and Nasdaq since Nov. 8.
Read more: http://www.cnbc.com/2016/11/22/us-markets.html
jimlup
(7,968 posts)Now the false irrational exuberance? I, for one, am slowly and patiently seeking safe havens for my money.
wordpix
(18,652 posts)only as long as his favorite contractors make out like bandits
William Seger
(10,779 posts)... just like every time it's been tried, as a flood of new money chases equity that isn't expanding at nearly the same rate. Investors who jump on it now and get out before the inevitable collapse will make vast fortunes, and of course brokers will make out like bandits regardless. The stock market is not "the economy"; it's a casino for the rich, and the house always has the advantage.
groundloop
(11,523 posts)I just wish I had a crystal ball to tell me when to abandon my 401K for safer ground.
Cosmocat
(14,572 posts)nm
Yavin4
(35,445 posts)Republicans in power = Bubble Economy. The markets are being fattened for the slaughter.
Loki
(3,825 posts)As per our advisor, plan on it now.
wordpix
(18,652 posts)for me to buy
Roland99
(53,342 posts)mortgage rates up about 0.75% (most in the 4.125% for best execution) Largest monthly jump in years!
TexasBushwhacker
(20,214 posts)for the government to borrow money. For a while the bond rate was equal or lower than the inflation rate. Not anymore.
yallerdawg
(16,104 posts)When you promise to let capitalism run amok, and offer nothing for labor and consumers other than crumbs, you better ride that bubble before economics re-establishes the fact that not only do we not make it here anymore, but we can't buy it here anymore, either.
Blue Idaho
(5,057 posts)Been there, seen that - it's what follows that is dangerous. The market is giddy with the idea that regulations will be lifted so they start the next recession.
Cosmocat
(14,572 posts)Bad things looming ...
William Seger
(10,779 posts)I haven't seen much success with that yet (or at least it's hard to be sure the success isn't random), but it seems I could make a killing with a penny-shaving, micro-second-trading bot -- if I had one.
BumRushDaShow
(129,454 posts)(considering Drumpf has not been inaugurated yet)
Afromania
(2,771 posts)In the last month or so I've been receiving more credit card offers in the mail. My gut reaction was that they were getting themselves ready to roll people up the river with "easy credit" garbage again. The last time they did it covered up the Bush administration doings. Folks were too busy buying, and flipping houses, with no money and racking up debt like nobodies business to care, that is until the music stopped.
Zorro
(15,749 posts)I sense the market will turn quite ugly in another 2 months.
elmac
(4,642 posts)its irrational exuberance on steroids. I'm thinking about a short the DOW ETF.
jmowreader
(50,562 posts)This round of Irrational Exuberance is brought to you by every boiler room and bucket shop in America, who are currently singing this catchy little ditty in hopes Trump will completely deregulate their industry:
Unfortunately for them but fortunately for us, the Senate is full of people who really do NOT want to lose their seats because they didn't stop Trump from wiping out their retirement savings for the second time.
greymattermom
(5,754 posts)I'm investing in my daughter's wedding instead.
elmac
(4,642 posts)Got the Nazi's, wall street and now the press in his corner.
Yavin4
(35,445 posts)Removing that protection encourages people to borrow more and more.
Bucky
(54,065 posts)What the economy needs is consumer spending.