The Markets

Discussion in 'Political Discussions' started by gipper, May 9, 2022.

  1. Terry O'Keefe

    Terry O'Keefe Well-Known Member Administrator

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    New YorkCNN —

    The Dow Jones Industrial Average closed above the 40,000 mark Friday for the first time in its 139-year history.

    The blue-chip index initially crossed the key threshold early Thursday but ended that day lower.

    Wall Street has been boosted in recent days by renewed hopes of rate cuts from the Federal Reserve that would loosen monetary conditions for consumers and businesses.
     
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  2. BuckeyeT

    BuckeyeT Well-Known Member

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    Yep, Goldilocks is front and center and investors remain unconcerned about any credit issues that may loom on the horizon. Consumer demand is beginning to moderate - which is good news as we can't get to desired inflation targets without - we'll see how well the balancing game plays out between moderating consumer demand and employment. Stay tuned...
     
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  3. Bobdawolverweasel

    Bobdawolverweasel Well-Known Member

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    If inflation and rising property taxes are forcing you to downsize your home, give this guy a call.

     
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  4. Scott88

    Scott88 Well-Known Member

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    Jobs report came out earlier this week.
    "Good" news: the economy added 250K+ jobs which was more than expected.
    Buried in that data was the fact that there were approx 650K LESS full time workers in the force.
    Fed won't take any action on rates with inflation still above target, and jobs seeming to be strong.
     
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  5. BuckeyeT

    BuckeyeT Well-Known Member

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    Double the fun today.....CPI release and Fed Meeting day. First the CPI data - needless to say the market is very happy. As Scott indicated, solid jobs report now coupled with lessening price pressure = goldilocks for many investors. Don't see any pundits predicting rate cuts today, but expectations for reductions by end of year have increased. We'll see....the day is yet young

    UPDATED WED, JUN 12 20249:04 AM EDT

    Dow futures jump 300 points on cool inflation report ahead of Fed decision: Live updates

    https://www.cnbc.com/2024/06/11/stock-market-today-live-updates.html
     
  6. Sid

    Sid Well-Known Member

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    At noon, it's tailed off to 94 points and could go red by the end of the day. Maybe the movers and shakers have seen Scott's post. I'm certain they follow this topic at least weekly. ;)
     
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  7. BuckeyeT

    BuckeyeT Well-Known Member

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    Federal Reserve issues FOMC statement

    FOMC members now only projecting one rate cut for 2024, down from 3 earlier in the year noting that while progress in reducing inflation is evident, remains above target and pace of easing slower than anticipated earlier this year. Labor market cooling, but remains strong

    "Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been modest further progress toward the Committee's 2 percent inflation objective."
     
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  8. BuckeyeT

    BuckeyeT Well-Known Member

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  9. gipper

    gipper Well-Known Member

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