DOW 40,000

[banddag]

https://www.cnbc.com/2024/05/15/stock-market-today-live-updates.html

The Dow Jones Industrial Average jumped above 40,000 for the first time as investors bet inflation pressures would ease and interest rates would come down, allowing the bull market to march on.

The Dow
 was last up 127 points, or 0.3%. At its high of the day, the average touched 40,0051, the culmination of a bull market that began in October 2022. The index had neared the 40,000 mark earlier this year, before a slight April pullback on worries about high interest rates knocked it back down. The rally was rekindled in May on the back of strong earnings and some soft inflation readings.

The S&P 500
 rose 0.3% Thursday to a new record after closing above the 5,300 level for the first time ever on Wednesday. The Nasdaq Composite
 also gained 0.3% to an all-time high. The Dow has climbed more than 6% for 2024, while the Nasdaq and S&P 500 are up 11% each.

“This achievement is a testament to the powers of capital formation, innovation, profit growth, and economic resilience,” said John Lynch, chief investment officer at Comerica Wealth Management. “The recent technical momentum and fundamental strengths, including earnings and interest rates, suggest further near-term gains.”

It was Walmart that led the charge above 40,000 as the world’s biggest retailer popped 6% on strong fiscal first-quarter results. Walmart is now up 26% on the year.

The Dow’s march toward 40,000 comes as expectations of interest rate cuts and enthusiasm around artificial intelligence boost investor sentiment. The first Federal Reserve rate cut is priced in for September, according to the CME Group’s FedWatch tool. That expectation grew after a smaller-than-expected increase in consumer prices for April was reported earlier this week.

On top of that, tech-related darlings such as Amazon
, Meta Platforms
 and Nvidia
 are all up sharply year to date.

Amazon, which just joined the more than century-old Dow in the first quarter, is up more than 22% for the year. Other top Dow performer this year include American Express and Goldman Sachs with both up more than 20% as investors bet the economy would skirt a recession and the consumer would remain strong.

Nvidia, which is not in the Dow, is leading the overall bull market and was up another 0.7% on Thursday. The AI chip maker is up 90% this year.

[Free Vulcan]

Right now markets are just basically a place for an ocean of money looking to go.

[240B]

Right now markets are just basically a place for and ocean of money looking to go.

It is all inflation numbers, not actual real value.
We know this because while American GDP/productivity crashes, the stock market rallies.

[catfish1957]

Fool's gold X 4

This market is approaching 75% oversold.   When it crashes, expect 15K + or -.  based on reasonable Market Caps and P/E ratios.

[Bigun]

Fool's gold X 4

This market is approaching 75% oversold.   When it crashes, expect 15K + or -.  based on reasonable Market Caps and P/E ratios.

 

[catfish1957]

As much as I admire Charles Payne, I can not believe he is still hawking this bull market.  The old axiom of Buy Low, Sell High has escaped the punditry's concept of reality.

[banddag]

Fool's gold X 4

This market is approaching 75% oversold.   When it crashes, expect 15K + or -.  based on reasonable Market Caps and P/E ratios.

I have been hearing these doom and gloom predictions for 35 years. After the 2008 crash, pundits said it would take 20 years to get back to where it was because at the time many investors were new , first time investors and pundits said after they got burned they would never come back to the market .
There was a an article recently that millennials and gen z are getting or planning to get in the market and n huge numbers because they know SS will not be around for them or the benefit will be cut  These young folks are educated savy and making big salaries.

I survived 1987, the dot com crash, housing boom crash and the Biden crash. ( oh wait that never happened)

The world is now a investing more and more in the US. Would you  invest to  China, Russia,  western Europe that is dying due to negative birth rates

I expect another major correction or two before I get planted

[Bigun]

As much as I admire Charles Payne, I can not believe he is still hawking this bull market.  The old axiom of Buy Low, Sell High has escaped the punditry's concept of reality.

Anyone who purchases a stock with a PE of 25+ is an idiot and I don't care who is hawking what.

[catfish1957]

I have been hearing this doom and gloom predictions for 35 years. After the 2008 crash, pundits said it would take 20 years to get back to where it was because art the time many investors were new a first time investors nd pundits said after they got burned they would never come back to the market .
There was a an article recently that millennials and gen z are getting or planning to get in the market because they know SS will not be around for them or the benefit will be cut
I survived 1987, the dot com crash, housing boom crash and the Biden crash. ( oh wait that never happened)

The world is now a investing more and more in the US. Would you  invest to  China, Russia,  western Europe that is dying due to negative birth rates

I hope your silly ass is here when it happens. I'm guessing I've done this a tad longer than you have, and understand the needs of full diversification, so that you don't lose under any scenario. 

In your case, keep throwing your cash blindly into equities and hope for the best.

[catfish1957]

Anyone who purchases a stock with a PE of 25+ is an idiot and I don't care who is hawking what.

 

Even noticed Fisher's trending neutral.  That tells me a bit right there.

[banddag]

I hope your silly ass is here when it happens. I'm guessing I've done this a tad longer than you have, and understand the needs of full diversification, so that you don't lose under any scenario. 

In your case, keep throwing your cash blindly into equities and hope for the best.

Mutual funds, one individual bank stock, lots of CDs and I own upscale apts and a office building

Besides if it crashes ala 1929 it does not matter, everyone will be in the same boat

[LMAO]

My 401k and IRA are smiling

Diversify, diversify, and diversify


Remember when Enron crashed? Many of their employees had their investments either all or mostly in Enron stock…..dumb

[LMAO]

Mutual funds, one individual bank stock, lots of CDs and I own upscale apts and a office building

Besides if it crashes ala 1929 it does not matter, everyone will be in the same boat

And if we have a 1929 type crash, you’ll have an office building to jump out of

[Free Vulcan]

Mutual funds, one individual bank stock, lots of CDs and I own upscale apts and a office building

Besides if it crashes ala 1929 it does not matter, everyone will be in the same boat

Which is why I say - think Amish.

[catfish1957]

Mutual funds, one individual bank stock, lots of CDs and I own upscale apts and a office building

Nuts and bolts people of means, are rarely as left wing as you are.  I am not calling bullshit yet, but.......

[libertybele]

Mutual funds, one individual bank stock, lots of CDs and I own upscale apts and a office building

Besides if it crashes ala 1929 it does not matter, everyone will be in the same boat

Second time you have bragged about being so rich.  Isn't that wonderful!

[catfish1957]

Second time you have bragged about being so rich.  Isn't that wonderful!

Good point, I'm deleting my response in good taste.

[banddag]

Second time you have bragged about being so rich.  Isn't that wonderful!

Well I was countering this comment from catfish: In your case, keep throwing your cash blindly into equities and hope for the best.

If I recall he said he owned various real estate and different wealth accounts other than stocks in a previous post on another thread and implied he was welll off in numerous other post, mentioning the millions in  taxes he has paid over the years

[banddag]

Nuts and bolts people of means, are rarely as left wing as you are.  I am not calling bullshit yet, but.......

Because I do not walk lockstep in YOUR strict definition of conservatism I am a liberal in your mind. You do know your brand of far right conservatism is not the norm in this country? Maybe 5% at most hold your strict views.
I was a far right conservative at one time but got tired of all the bs from the right, the misinformation, lies, constant fear porn and doom doom doom  whenever a democrat was in power and have become a independent conservative. Fiscal conservative, socially moderate.

I have been on 3-4 conservative  sites today and looking at Dow 40k threads. Nothing but beotching and complaining instead of saying hey this is great. . If Biden came out today and cut taxes and gov't regulations by 50% conservatives would still find something to beotch about.

Politics is nothing but poisonous partisanship anymore.

[catfish1957]

Because I do not walk lockstep in YOUR strict definition of conservatism I am a liberal in your mind. You do know your brand of far right conservatism is not the norm in this country? Maybe 5% at most hold your strict views.

I won't argue that point I might be in that 5%.  But OTOH, my positions which haven't changed in 50 years, would have been mainstream, and the fact is I am not is part of the problem  Back in the 1970's and 1980's fiscal responsiblilties like balancing budgets and disdain toward deficit spending was the accepted norm.   Now the uni-party, including you have no problem with that fiscal insanity.  Just because I am in the minority, does not make me wrong.....  In fact I'd counter the opposite.

I was a far right conservative at one time but got tired of all the bs from the right, the misinformation, lies, constant fear porn and doom doom doom  whenever a democrat was in power and have become a independent conservative. Fiscal conservative, socially moderate.

Are you joking?  $34T deficit which is approaching 150% of GDP is not doom and gloom?  I thought you just said you were a fiscal conservative!!!!!!   You're at Bullshit Level Defcon 3 at the onset.   And your inability to extract the fact that the past 30 years has been one continous kicking the can down the road exercise is very telling. BTW... Using terms like Fear Porn is a buzz word of the left.  You are fooling very few here.

I have been on 3-4 conservative  sites today and looking at Dow 40k threads. Nothing but beotching and complaining instead of saying hey this is great. . If Biden came out today and cut taxes and gov't regulations by 50% conservatives would still find something to beotch about.


Sorry...   I have been pretty much stating that you are a wolf in sheep's  clothing troll.  After this statement I am torn between deciding whether you are terminally silly or insane.

Politics is nothing but poisonous partisanship anymore.

And you've proven that nicely....  Thank you.

[libertybele]

Because I do not walk lockstep in YOUR strict definition of conservatism I am a liberal in your mind. You do know your brand of far right conservatism is not the norm in this country? Maybe 5% at most hold your strict views.
I was a far right conservative at one time but got tired of all the bs from the right, the misinformation, lies, constant fear porn and doom doom doom  whenever a democrat was in power and have become a independent conservative. Fiscal conservative, socially moderate.

I have been on 3-4 conservative  sites today and looking at Dow 40k threads. Nothing but beotching and complaining instead of saying hey this is great. . If Biden came out today and cut taxes and gov't regulations by 50% conservatives would still find something to beotch about.

Politics is nothing but poisonous partisanship anymore.

So basically you are a moderate at best and not a conservative. You can sneer at conservatism all you want, I do know that liberalism hasn't worked in the past, isn't working now, and certainly won't work in the future. 

This country was built on conservative principles and values.

Just because the DOW has hit 40,000 does not indicate that the economy is healthy.  Though the inflation rate has come down from pandemic rates, people are still struggling to put gas in their tanks, food on their tables and a roof over their heads. On top of that property insurance and taxes have gone up substantially.

Are we headed for a market crash?  Perhaps and I think likely.  I'm not talking just a correction.

[Bigun]

So basically you are a moderate at best and not a conservative. You can sneer at conservatism all you want, I do know that liberalism hasn't worked in the past, isn't working now, and certainly won't work in the future. 

This country was built on conservative principles and values.

Just because the DOW has hit 40,000 does not indicate that the economy is healthy.  Though the inflation rate has come down from pandemic rates, people are still struggling to put gas in their tanks, food on their tables and a roof over their heads. On top of that property insurance and taxes have gone up substantially.

Are we headed for a market crash?  Perhaps and I think likely.  I'm not talking just a correction.

Inflation is the most cruel tax there is!

[banddag]

Are you joking?  $34T deficit which is approaching 150% of GDP is not doom and gloom?  I thought you just said you were a fiscal conservative!!!!!!   You're at Bullshit Level Defcon 3 at the onset.

Where did I say the $34t was not a major concern?

Here is what I posted to LMAO yesterday: Yes govt spending is out of control and our debt  is a major problem we face. ..but our debt will be addressed. Have you noticed all the articles written by top economist that we really need to start taking the debt and out of control spending serious. Jamie Dimon had a article  today. I have noticed 2-3 per week now.  Republicans and democrats are finally seeing the problem it is and are coming together. Both KNOW it is the issue of our times.

Matter of fact it was discussed today on Charles Paynes show how more and more people are finally coming around and taking it serious including politicians from both sides who agree it needs resolved.

I have been on 3-4 conservative  sites today and looking at Dow 40k threads. Nothing but beotching and complaining instead of saying hey this is great. . If Biden came out today and cut taxes and gov't regulations by 50% conservatives would still find something to beotch about.

I am right on this prove me wrong. Poster LMAO was the only one who posted a positive good news response about the Dow at 40k on this thread.

The Dow40 thread on FR. 59 responses not a single..Hey this is great news for savers and retirees accounts.  The typical response  "Smoke and mirrors", "propped up govt  bs"  "Inflation dollars"  "Fake stock market"  Like I said doom and gloom.

Conservatives have always been doom and gloomers.  Why do you think all the gold commercials, prepper supplies, heritage food supplies  etc are always advertised on Fox and not CNN or MSNBC or other mainstream channels . Glenn  Beck  made a fortune selling doom and gloom. ..so is Tucker..  "Diesel is going to be out by Thanksgiving 2022-farmers are  not going to plant crops, empty food shelves coming in 2023. Doom and gloom bs

[berdie]

All I can say is I'm sitting on my hands to prevent myself from moving everything to cash, lol.

[banddag]

All I can say is I'm sitting on my hands to prevent myself from moving everything to cash, lol.

A 3 or 6 month 5.25% CD's look pretty tempting right now .  Several well known pundits today said they see   a 10-15% correction next few months