Dow

@earl-of-trumps said
@no1marauder

Having a suitable vax is great news for *all* businesses.

I think you people seriously underestimate this in its effect on the DOW

Sure, but the Pfizer vaccine news was two weeks ago and the Modena last week. Why would changes today be related to old news?

A more detailed look makes part of the rise a bit problematic; the biggest gainers were energy stocks because:

"Crude oil prices jumped 4% on Tuesday, flirting with the $45 per barrel level. "

https://www.fool.com/investing/2020/11/24/heres-who-to-thank-stock-markets-all-time-highs/

That seems to be partly based on optimism that energy markets will recover from the COVID crisis early next year, but if oil prices rise while the US economy is still in the COVID slowdown it will be a most unwelcome supply shock.

The other biggest gainers were banks and financial services. The article links that to a belief that a stimulus package is now more likely (presumably because Biden will now push hard for one where Trump was indifferent after the election) but perhaps the Yellen nomination had something to do with it as well.

Anyway, one shouldn't get too excited about one day changes in the markets.

@averagejoe1 said
I’m thinking you may have been tied up on this forum all day and not noticed the Dow, which I had told y’all a year ago would hit 30,000. I’m now telling you it will hit 40,000 ( that is if repub keeps the Senate, holding back the jackals). So give it some thought, and happy Thanksgiving to all.

There's a crowd of hungry people outside a nearby church right now waiting for cartons of food for Thanksgiving. Shall I tell them the Dow topped 30,000 today?

@handyandy said
There's a crowd of hungry people outside a nearby church right now waiting for cartons of food for Thanksgiving. Shall I tell them the Dow topped 30,000 today?

No.

Tell them they voted for socialism and they can starve just like commies do.

Duh 🙄

@cheesemaster said
Duh 🙄

Are you AverageJoe's sock puppet?

@handyandy said
Are you AverageJoe's sock puppet?

Depends on what he pays me and that depends on the market.
You know Joe just like I do.

The market is good by the way 😏

@handyandy said
There's a crowd of hungry people outside a nearby church right now waiting for cartons of food for Thanksgiving. Shall I tell them the Dow topped 30,000 today?

On the one hand, stock ownership is highly concentrated in the US:

"the richest 10 percent of households controlled 84 percent of the total value of these stocks in 2016."

On the other, a majority of US households have some stock, usually in a retirement fund:

"Just a modest majority of Americans, some 55%, own stocks, according to an April 2020 poll by Gallup, which asks whether households owned stocks either directly or as part of a fund."

This has declined markedly over the last 20 years, however:

"Stock ownership was at its peak in 2002 when 67% of Americans said they owned stock. That proportion reached 65% in April, 2007, before the Great Recession, after which the share of Americans owning stocks dipped once again. Of those earning below the median household income, the typical household owns essentially zero financial assets, and of those who do, most don’t have significant balances."

https://www.forbes.com/sites/teresaghilarducci/2020/08/31/most-americans-dont-have-a-real-stake-in-the-stock-market/?sh=7bbc9ca01154

@cheesemaster said
@HandyAndy

Tell your starving socialist friends to starve.

I'm eating good right now actually 🤗

Be careful not to choke on it.

@athousandyoung said
You predicted a stock market crash if Trump lost.

Contrare’ , said it would spike UP even if Biden wins, because you folks love to spend government (other people’s) money, and Wall Street would like that. Short term, of course. But if you have the senate, the euphoria would subside, because your strangling regulations would be put into motion, taxes would be raised, free healthcare, and college, erase tuition debt, spend billions on climate, spend billions on immigrants, et al ad nauseum.. So, investors would then short the market (bet on the crash you mention.) Regarding immigration, remember that you cannot have welfare and open borders at the same time. It is mathematically impossible. I don’t think Joe has thought of that. The more I think about it, I might short the market tomorrow I’m feeling a little uneasy !

Joe is all for for raising the minimum wage. If he does (setting aside for a moment how horrible that would be), someone making $15 an hour can make $30,000 a year. Probably not enough to get a good start in the stock market, as discussed above, but if they work instead of running around in the middle of the street, their income will naturally increase over, say, a five-year period, and they may be making $50,000 . Put $5000 of that in equities. Hey, it ain’t that hard. In America, a guy making $30,000 can soon be making $50,000. Tell me why your average man cannot invest in the stock market. I must be missing something here.

@handyandy said
Be careful not to choke on it.

If you seen me eat you'd say I eat like a starving wolf.
I disgust people with the way I eat.

I don't choke old man.

I wouldn't even choke on your old carcass. 😡

@handyandy said
There's a crowd of hungry people outside a nearby church right now waiting for cartons of food for Thanksgiving. Shall I tell them the Dow topped 30,000 today?

No, because they apparently are not candidates to invest there. At that level, an investment might be a bicycle to get to their landscape job, to work, to get promoted to superintendent. Soon, with $1000, he would have enough to buy 10 shares of Apple, or vaccine stock Moderna. You see Handy, there are lots of ways To invest in your future, not just the stock market. A person buying seeds for plants to sell at the market is investing in seeds. Do you not understand about investing. Money made from one investment can be diversified into another one. Whew.

As toa food line, if a disabled person is there, that line and many like them are great in America. And they have govt help and welfare. But if there are able bodied losers there, they can feed like it is a trough, or leave and find a rich guy to work for, make money, and buy stock.

Handy, life ain’t perfect . Even if your lovely AOC has her way, we will never all be equal... there will always be poor people and rich people. A person simply chooses. They can have one or two jobs, or, OR, wave flags in a dam street. I myself have never been in a street.

@averagejoe1 said
I myself have never been in a street.

Obviously, Joe. Humanity isn't your bag.

The post that was quoted here has been removed

True.

And a problem of society.