Politics Record setting day for the stock market today

Discussion in 'The Howard Stern Show' started by Bobby Axelrod, Aug 15, 2016.

  1. Bobby Axelrod

    Bobby Axelrod Well-Known Member

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    Should we all be excited?

    http://www.marketwatch.com/story/us...gher-ahead-of-empire-state-reading-2016-08-15

    Stocks close at record highs as oil rallies
    By Wallace Witkowski and Anora Mahmudova
    Published: Aug 15, 2016 4:18 p.m. ET

    The Dow Jones Industrial Average, the S&P 500 index, and the Nasdaq Composite Index all closed at record highs on Monday for the second time since 1999, thanks in part to a sharp uptick in oil prices, which boosted energy and materials shares.

    The S&P 500 SPX, +0.28% rose 6.10 points, or 0.3%, to close at 2,190.15, with seven of the 10 main sectors trading higher. The materials, industrial, and energy sectors led the gains, while so-called defensive sectors, such as utilities, consumer staples and telecom were in negative territory. On Thursday, the index closed at a high of 2,185.79.

    The Dow Jones Industrial Average DJIA, +0.32% gained 59.58 points, or 0.3%, to 18,636.05, with shares of DuPont DD, +1.45% and Goldman Sachs Group Inc. GS, +1.41% leading the gains. Back on Thursday, the Dow closed at a high of 18,613.52.


    The Nasdaq Composite COMP, +0.56% logged its third record closing high in a row, advancing 29.12 points, or 0.6%, to finish at 5,262.02, topping Friday’s previous closing high of 5,232.89.

    On Thursday, the Dow, S&P 500, and Nasdaq had all closed at record highs, an occurrence that had not happened since 1999.

    “The market is grinding higher thanks to better-than-expected earnings results during this season as well as due to lack of alternatives, since bond yields are so low,” said Karyn Cavanaugh, senior market strategist at Voya Financial.
     
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  2. Kanye West

    Kanye West Yeezus! Gold

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    im not reading that shit
     
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  3. Kanye West

    Kanye West Yeezus! Gold

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    im lying ill read it after dinner
     
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  4. Kanye West

    Kanye West Yeezus! Gold

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    ok i lied again, maybe after i watch a little of the olympics
     
  5. Kanye West

    Kanye West Yeezus! Gold

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    ah who the fuck am i kidding im not going to read it until tomorrow
     
  6. XuXu

    XuXu Well-Known Member DawgShed News

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    Barack Obama is the worst communist ever.
     
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  7. AcquiringSignal

    AcquiringSignal Girthy VIP

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  8. DarkFriday

    DarkFriday Fired as a MOD...Twice. Gold

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  9. oski

    oski Jump For Life Gold

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    oh sweet Christ. another idiot who thinks the president controls the stock market.
     
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  10. DarkFriday

    DarkFriday Fired as a MOD...Twice. Gold

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    This guy is an asshole.
     
  11. DarkFriday

    DarkFriday Fired as a MOD...Twice. Gold

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    Calm down
     
  12. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    Every high from now on will be a "record high". There were "record highs" last year. With monetary inflation at work, this will continue. Only one day, Dow 500,000 won't be a good thing.

    With the economic data consistently pretty weak it has the perverse effect of lifting the market since investors have now been pretty much assured that those "rate hikes" promised by the Fed for the past 2 years will never happen. A $20T US national debt also assures that rates will never rise, as the government couldn't afford the higher interest rates, being the largest debtor on earth.

    When they tried to raise rates a tiny 25 basis points last fall/winter the market tumbled. They're not going to make that mistake again.
     
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  13. Kanye West

    Kanye West Yeezus! Gold

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    howard invented the stock market
     
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  14. AcquiringSignal

    AcquiringSignal Girthy VIP

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    He is a big Star Wars fan.
     
  15. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    You do seem busy and pressed for time.
     
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  16. oski

    oski Jump For Life Gold

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    yup. earnings are flat. market it up 10%. makes sense to me.
     
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  17. Kanye West

    Kanye West Yeezus! Gold

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    it hurts my eyes to read your posts
     
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  18. DarkFriday

    DarkFriday Fired as a MOD...Twice. Gold

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    [​IMG]
     
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  19. zhukov

    zhukov Time traveler VIP

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    So he's an asshole and a dork? :umunch:
     
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  20. zhukov

    zhukov Time traveler VIP

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    He's right you know.