The Stock Market thread

[flere-imsaho]

Every Republican Presidency for the past 45 years has ended with a recession.

[Edward64]

Russel 2000 (smaller companies) was up +3% earlier. It's now up +6%.

Dow up from 1,200 to 1,300. And ... DJT up +29%.

Markets are going to be crazy.

[Edward64]

In my Fidelity account to look at stuff.

There are some serious performance/response issues and error messages. I sure hope its just a bunch of other people like me vs some sort of hack attack. I've never seen it this bad before.

[Edward64]

Very nice day.

Dow +3.57%
S&P +2.53%
Nasdaq +2.95%
Russell 2000 +5.84%

DJT +5.94%
Tesla +14.75%
Bitcoin +9.12%

Lot's of paper wealth created today. I do think when reporting on a President's market performance, they should give stats that starts/ends on Inauguration day and also Election day.

[NobodyHere]

[PilotMan]

Meanwhile the 30yr jumped by about a sixth of a point in one day. So there's that too. That's the highest it's been since July. The Fed will cut rates tomorrow, but it's likely that interest rates continue to push higher.

[Edward64]

Originally Posted by NobodyHere

And the party keeps on going ...

Except for DJT, down -17.6%. Wonder if insiders are selling now ...

[Edward64]

Among other things in his press conference, Jerome said below. The markets strengthened a little, did not go down so think the markets likes Jerome (right now).

During a press conference Thursday afternoon, Powell said he would not step down from his position as Fed chief even if President-elect Donald Trump asked him to.

“No,” he said in response to a reporter’s question on whether or not he would leave if Trump asked him to resign.

Later on, another reporter asked Powell if the president had the power to fire or demote him from his position. The Fed chair responded that such an action was “not permitted under the law.”

Googled on it and found below wiki

The president may not have the legal authority to dismiss a chairman before the end of a term, although this assumption has never been tested in court.

It'll be a fun to see it play out if Trump pushes this.


Markets today. Been an impressive week so far.

Dow +0%
S&P +.74%
Nasdaq +1.51%
Russell 2000 -.31%

[Arles]

Honestly, I think Powell has done pretty well. I think he over raised rates a bit, but it was probably better to overdo it than under. We basically survived a pandemic that kept people house-bound, massive supply chain challenges, a war in the Ukraine and a high interest rate environment over a 4-5 year period with no real major economic or market impact.