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Wall Street is giving President Trump's first speech to Congress a standing ovation.
The Dow soared 250 points and topped the 21,000 level for the first time ever on Wednesday. The milestone comes barely a month after the Dow hit 20,000 for the first time.
Trump's primetime address to Congress received high marks from viewers and has clearly left Wall Street in good spirits, too. The Dow is on track for its best day since December 7.
Nice to see. Wasn't it just a couple weeks ago when it first broke 20K?
Short term run-ups, gyrations, etc., supposedly connected to politics? Maybe. But long term, stock market valuations are based on fundamentals: earnings, sales, amount of debt, etc. Anyone breathing hard over the "Trump market" could be in for a rude awakening when the fundamentals come home to roost.
Trump has to get it to at least 45,000 in his first term to match what he called "the most disastrous recovery in 65 years." If I was you guys I would lay off the Dow as an economic indicator to judge this president by. More irrational exuberance that creates the sucking sound to get you to spend your money. I'm not saying its a bad thing ,but why do people spend more of their money when they think the economy is good? You should be able to spend the same amount of money regardless of how the economy is doing.
Trump has to get it to at least 45,000 in his first term to match what he called "the most disastrous recovery in 65 years." If I was you guys I would lay off the Dow as an economic indicator to judge this president by. More irrational exuberance that creates the sucking sound to get you to spend your money. I'm not saying its a bad thing ,but why do people spend more of their money when they think the economy is good? You should be able to spend the same amount of money regardless of how the economy is doing.
Agreed it isn't much of an economic indicator for the people as a whole. Especially when it's been artificially propped up by QE XXX
Nice to see. Wasn't it just a couple weeks ago when it first broke 20K?
politics aside, the money coming in is "shoe shine money" or at least that is the message coming out of the street. it is a warning signal. make sure you have a strong cash position and can ride out any correction.
Short term run-ups, gyrations, etc., supposedly connected to politics? Maybe. But long term, stock market valuations are based on fundamentals: earnings, sales, amount of debt, etc. Anyone breathing hard over the "Trump market" could be in for a rude awakening when the fundamentals come home to roost.
It's interesting seeing a total scam (the market) drive itself up day after day over nothing really of any fiscal consequence.
Lots of money going from the left pocket to the right pocket of the same pair of pants...
Nice to see. Wasn't it just a couple weeks ago when it first broke 20K?
It was Jan 25th. Also, if the Dow had closed up yesterday it would have set an all time record of 13 straight up days and 13 record closes. Closing 12 straight was the longest since 1987, and it has set an all time record for point gains in a 4 month period.
If it continues today it will add another couple hundred billion to the market... in a single day!
Quote:
Originally Posted by jimj
It's interesting seeing a total scam (the market) drive itself up day after day over nothing really of any fiscal consequence.
Lots of money going from the left pocket to the right pocket of the same pair of pants...
That's really not factual, but okay
Quote:
Originally Posted by r small
Short term run-ups, gyrations, etc., supposedly connected to politics? Maybe. But long term, stock market valuations are based on fundamentals: earnings, sales, amount of debt, etc. Anyone breathing hard over the "Trump market" could be in for a rude awakening when the fundamentals come home to roost.
Except... the markets, though up, were actually suppressed under Obama. The valuations are still quite modest at about 17x earnings. When the Nasdaq blew up in 2000/01 (dot com bubble) the valuations were well above 40. When the market crashed in 2009 the valuations were about 25 I believe.
It's interesting seeing a total scam (the market) drive itself up day after day over nothing really of any fiscal consequence.
Lots of money going from the left pocket to the right pocket of the same pair of pants...
that is a very common misconception.
Each week millions of people put NEW money into 401ks .
Each moment a new buyer joins, an old one leaves, and someone returns...
The market volume is made up of money going back and forth in and out of the same pockets , but some of it is always new money, in fact that data is recorded and used by investors to get a better idea of how widely spread the support is.
The Trump bump is all about ,
new money from small investors who had not returned, but are encouraged by seeing "their guy" get in.
Wall street loving Trump's anti government cabinet, his pro corporate agenda and his rolling back of the FTC. so far Trump has done everything wall street could have dreamed of, apart from lower income consumers which may well flounder and impact consumer spending.
wall street loves trump, he put their guys in charge why wouldn't they be thrilled.
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