Dow Jones reaches 35,000 for first time

[left-of-center2012]

Source: The Hill

The Dow Jones Industrial Average on Monday crossed the 35,000 mark for the first time, setting a new high water mark less than six months after it first breached 30,000.

The stock index jumped more than 200 points, or 0.6 percent, in the first hour of trading Monday morning, even as other indexes remained tepid. The S&P 500 was down 8 points, or 0.2 percent below the record it set on Friday.

The latest record comes amid mixed economic news. Last week, initial unemployment claims fell to their lowest levels since the pandemic began. But the monthly jobs report for April came in well below expectations, showing just 266,000 new jobs. Analysts had expected 1 million.

Read more: https://thehill.com/policy/finance/552628-dow-jones-reaches-35000-for-first-time

[True Dough]

1. Thanks,

Biden!!

[kimbutgar]

2. I thought the Dow was going to crash because Biden is president now

What happened?????

[left-of-center2012]

3. Yep

The orange blob was wrong ... again.

[former9thward]

18. Political predictions about the market are almost always wrong.

Paul Krugman said on election night, 2016, that the market would fall 50% the next day "and never recover". So did many of the people who post. Those predictions were as wrong as Trump's.

[IronLionZion]

8. Biden is killing so many good jobs

in oil/gas, coal, steel, small businesses, etc. through socialism. Workers have been using their stimulus checks to inflate stocks for the wealthy instead of working. or something...

[JustABozoOnThisBus]

11. I think this bull market is just a market crash in disguise. Don't be fooled.

Or so says Qanon, MTG, Bannon, et al.

[Botany]

4. Trump: If Biden is elected, 'the stock market will crash'

https://www.nbcnews.com/video/trump-if-biden-is-elected-the-stock-market-will-crash-94451269581

[nykym]

5. Yeah but how long

till he claims that it was he who set that in motion.

[Botany]

6. Well Trump took credit for the market and the economy that President Obama helped to build.

And he did that for over 2 years.

BTW "they" are now trying to blame President Biden for the higher gas prices.

[Under The Radar]

7. Still waiting on Armageddon - Wall Street seems to like that radical socialism stuff...

Sighting the lower than expected jobs report, Kevin McCarthy said on Friday that the economy was tanking under the radical socialist policies of Biden.
I for one do not feel that the Dow Jones industrials is a direct indicator of the US economy, nor that whomever is president has a direct affect on the performance of the Dow, but since Trump used the Dow as a barometer for how good his presidency was, it is fun to use the economic news to wipe their face in it.

[Progressive Jones]

19. You're correct. The markets are only a piece of the overall economy. nt

[yaesu]

9. oh boy, glad those wall street banksters can afford more gold toilets, got to order my DOW 35K hat

real soon!!!

[Maxheader]

10. Just posted that over at a

rabid rights political forum...

[OneCrazyDiamond]

12. Is that a 14% rise in 6 months?

Is that a good thing?

[Hoyt]

13. Personally, wouldn't be touting market that much. It will fall at some point, as it did later today.

[jmowreader]

14. One welcome difference between Trump and Biden...

Every time the Dow hit an all-time high under Trump, he got on his little phone and bragged about "another record high."

The Dow is currently higher than it has ever been before, but not one "record high" post has appeared on the President's Twitter feed.

[Gore1FL]

15. It didn't last long.

I was making money this morning, and ended up losing by the closing bell.

[left-of-center2012]

16. Google says Dow Jones dropped 35 points today

Did your stocks drop more than 35 points?

[Gore1FL]

17. I look more like today's 1% S&P 500 drop than the .1% Dow drop, unfortunately.

Other days I beat the index. Generally speaking, as a long term investment, I have great faith in my approach. Some days look bleak. (today, semiconductors took a big hit.) Some days are like winning the lotto. On average, it's a good deal; it's just best when I don't look at it day-to-day!