STOCK MARKET WATCH -- Monday, 25 September 2023
STOCK MARKET WATCH, Monday, 25 September 2023
Previous SMW:
SMW for 22 September 2023
AT THE CLOSING BELL ON 22 September 2023
Dow Jones 33,963.84 -106.58 (0.31%)
S&P 500 4,320.06 -9.94 (0.23%)
Nasdaq 13,211.81 -12.18 (0.092%)
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Market Conditions During Trading Hours:
Google Finance
MarketWatch
Bloomberg
Stocktwits
(click on links for latest updates)
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Currencies:
Gold & Silver:
Petroleum:
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DU Economics Group Contributor Megathreads:
Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread
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Quote for the Day:
Is the pernicious and fickle global assembly line in its productive activity the most important force in restructuring life on earth because for an unimaginable portion of people life is now about a job? Is it instead at the other end of the line, consumption (including consumption of media and advertising), where the real action of globalization is taking place, as new global cultures define themselves? Is the hegemonic political order (the nation-state) subservient to economic powers or do these powers wheel drunkenly around each other (one moment sparring, the next arm-in-arm)? And which of these happenings is the process of globalization and which are the conditions, or outcomes, of that process?
Amory Starr. Naming the Enemy: Anti-Corporate Movements Confront Globalization. Zed Books / St. Martin's Press. © 2000.
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.
= new reply since forum marked as read
Muted demand conditions, lowered output, firms still hiring, wages softening. Many here on DU kept telling me it couldn't happen. But it is the 1970s all over again. Oil prices are rising because our dollars buy less and oil producers have wage and capital requirements just like every other firm. And rising costs of credit, energy impact consumers here in the USA.
So we're having rising prices and restricted output. Stagflation. It won't be as bad as the 1970s because we have alternative forms of renewable energy - and it's cheap energy - but oil and LNG will impact at the margins.
I expect a lower stock market in the months ahead. As an active piddling trader I try to scalp a few here or there. I hedge. And raise cash when profits are shown to me. But still underwater in some things. For consumers my advice, buy quality and durability when you see it at your price. Hoard just a wee bit. You can't lose on consumables because you can always - CONSUME them. Pay attention to things you need regularly - filters, washers for example that are only made in China. Overseas parts can be dodgy to get. So put an extra aside for the years ahead.
Where else can you get such sage advice? 
I like your advice. 
I'm personally not a big consumer of non-essentials, so doing without luxuries has been a way of life for a long time. I either buy long-lasting things, or I make things last long.
I think the stage is being set for bringing back at least some of the manufacturing, but it's going to take a while. Take care of what you have, folks, just in case the day comes when you can't easily and/or affordably replace it.
The other thing I frequently counsel is looking at the broader effects of purchases, which ties in with today's quote, too. Is that non-essential purchase contributing to the problems we're all talking/complaining about? Exploited labor? Environmental degradation? Climate change? I'm not saying we have to go back to living like Cro-Magnons, but maybe if we were just a little more conscientious in our consumption it would have a beneficial effect. Just MHO, of course.
Back in 2008, 2009, when we had real crises, this place was hoppin'. 
I've learned a lot since then and more aware. Being older mid-70s, I don't know if all that makes much difference when the next crash comes and affects everyone. We will find out soon enough.
