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Sun May 17, 2020, 06:26 PM

STOCK MARKET WATCH - Monday, 18 May 2020

STOCK MARKET WATCH, Monday, 18 May 2020

Previous SMW:
SMW for 15 May 2020


Dow Jones 23,685.42 +60.08 (0.25%)
S&P 500 2,863.70 +11.20 (0.39%)
Nasdaq 9,014.56 +70.84 (0.79%)


Market Conditions During Trading Hours:

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CNN Money Premarket

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

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Reply STOCK MARKET WATCH - Monday, 18 May 2020 (Original post)
Tansy_Gold May 2020 OP
Hugin May 2020 #1
progree May 2020 #2

Response to Tansy_Gold (Original post)

Mon May 18, 2020, 08:57 AM

1. Joygasm on the Dow this morning.

Celebrating the worst job numbers in 75 years, I guess.

The cynical side of me thinks they were draining it last week only to dump it all back in this morning to bang the markets.

The set-up over the weekend was obvious with all of the babble from Powell, the HHS guy, et al on all of the talking head shows.

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Response to Hugin (Reply #1)

Mon May 18, 2020, 10:38 AM

2. From this morning's new stories, it's because of a positive vaccine trial which in turn

spurs hope of a sooner rather than later complete opening up of the economy. Even without that, more and more states have been partly opening up, and not just red states.

As for the jobs reports - The big Friday May 8 jobs and unemployment rate report wasn't as bad as expected, according to the pre-release polling by Reuters and Marketplace of the economists that they poll, which is the explanation being given (in part) of why the market went up last week. Literally absolutely nobody who had been following the previous weeks of weekly unemployment claims reports was surprised by the May 8 jobs report of a 20.5 million job loss or a 14.7% unemployment rate, as reported on May 8, but rather pleasantly surprised..



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