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U.S. stocks surged Tuesday, with the Dow Jones Industrial Average crossing 30000 for the first time, after President Trump said his aides would cooperate with President-elect Joe Biden’s transition to the White House.
That news eased investors’ concerns about a drawn-out period of uncertainty and added more steam to a recent rally that has been spurred by promising results from potential coronavirus vaccines.
“This is very positive: it means that we finally might get an orderly transition process,” said Luc Filip, head of private banking investments at SYZ Private Banking. “That would relieve some of the uncertainties that have been weighing on the market over the past two to three weeks.”
Well, good for my 401 K I suppose. But there's still a lot of people out of work and more than a few are close to starvation level, so we have a ways to go before we can call the economy good. I'm more concerned about people going hungry this winter.
Or maybe the evil Wall Street is happy that the swamp creatures are back.
Who is "Wall Street"?
Investors, like people who have 401Ks, are Wall Street, and they invest when they feel optimistic. They don't care about some imaginary/childish "swamp creatures".
The optimism might wane soon, and the markets can come down fast. It all depends on what happens next. A $5 trillion dollar government intervention kept the markets in shape in 2020, but we'll have to wait and see what 2021 brings.
I do not have high expectations for the Biden admin, just FYI, but I believe in US, especially now that we are going to have a gridlock which keeps the parties from going crazy with "reforms".
Last edited by Finn_Jarber; 11-24-2020 at 03:34 PM..
So if it the Dow drops 1000 points tomorrow will it be Bidens fault? Heck the best stock performer i had today was my USO oil stock up 4% today. You can make of that what you will as well
Investors, like people who have 401Ks, are Wall Street, and they invest when they feel optimistic. They don't care about some imaginary/childish "swamp creatures".
The optimism might wane soon, and the markets can some down fast. It all depends on what happens next. A $5 trillion dollar intervention kept the markets in shape in 2020, but we'll have to wait and see what 2021 brings.
I do not have high expectations for the Biden admin, just FYI, but I believe in US, especially now that we are going to have a gridlock which keeps the parties from going crazy with "reforms".
Dude, I know what Wall Street is. The Wall Street is the Main Street.
It’s the democrats who have zero clue. I was being sarcastic.
Actually based upon how people have been measuring stock market gains to discount the big jump when Trump got elected, since Trump is in office until January 20th this is all to his credit....lmao.
Or are we changing the measure to election to election instead of inaugeration to inaugeration.
Whoops, dumb question. We'll just use whichever suits us politically at the moment.
Just mocking all the cherry picking and insanely BAD SCIENCE that goes on around data in this forum (both sides).
Absolutely. When it happens on your watch, it's yours! Bush/911, Biden/Obama 8 years of war, Trump's record setting economy.
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