DOW----S & P 500----NASDAQ Close At Record All-Time Highs

catkinZ8a

(But muh national debt) There, said it for you.

Stuttering Obama:


WINNING! Thank you, President Trump!

Dow, S&P 500, Nasdaq Close at Record Highs on Signs of Trade-Talk Progress

All three major U.S. stock indexes closed at record highs Monday, bolstered by a stronger-than-expected U.S. jobs report and signs of progress in U.S.-China trade talks.


Rob Lenihan

Updated Nov 4, 2019 4:16 PM EST


Here Are 3 Hot Things to Know About Stocks Right Now

  • All three major U.S. stock indexes closed at record highs Monday, bolstered by stronger-than-expected U.S. jobs report and signs of progress in U.S.-China trade talks.
  • Under Armour (UAA - Get Report) tumbled after the sportswear company confirmed it is under federal investigation for its accounting practices. Under Armour is Real Money's Stock of the Day.
  • McDonald's (MCD - Get Report) fell after the fast food restaurant chain fired CEO Steve Easterbrook after a consensual relationship he had with an employee violated company policy.

Wall Street Overview

Stocks finished higher Monday, with all three major U.S. stock indexes closing at record highs, as investors shifted into buying mode following a stronger-than-expected U.S. jobs report and signs of progress in U.S.-China trade talks.


The Dow Jones Industrial Average, which is up about 19% year-to-date, finished up 114 points, or 0.42%, to 27,462.11, the S&P 500 advanced 0.37% to 3,078.27, and the Nasdaq climbed 0.56% to 8,433.20.


During the session, the Dow hit an intrday high of 27,517.60 while the S&P reached, 3,085.20 and the Nasdaq hit 8,451.37.

Chevron (CVX - Get Report) was leading the Dow's advance after agreeing to sell its Central Asia assets to Hungary's (MOL) for around $1.6 billion. Walgreens Boots Alliance (WBA - Get Report) and Chevron rival ExxonMobil (XOM - Get Report) were rising as well.


Energy stocks topped both the Dow and the S&P 500 Monday, while global crude prices extended gains, as investors reacted to improved U.S-China trade signals and plans by Saudi Arabia to list its state-owned oil company in a deal that could be worth more than $1.5 trillion. UA

Stocks had finished higher Friday and the S&P 500 and Nasdaq closed with records following the jobs report, which said the U.S. added 128,000 jobs in October, better than forecasts of 89,500. The data offset a weaker reading on U.S. manufacturing.


China, meanwhile, said that it had reached a consensus with the U.S. on core trade concerns. The White House issued a statement saying the two sides had made progress in several areas and were "in the process of resolving outstanding issues."

U.S. officials said the "phase one" trade agreement could be signed this month. Meanwhile, U.S. technology companies may soon get to resume selling their products to Chinese company Huawei, according to statements Commerce Secretary Wilbur Ross made to Bloomberg over the weekend. Under Armour ( UAA - Get Report) tumbled 18.9% to $17.14 despite posting stronger-than-expected third quarter earnings, after the sportswear company confirmed it's under federal investigation for its accounting practices. Under Armour is Real Money's Stock of the Day.


I am really aghast about Under Armour. there is a protocol. it is well known. it was violated here. People bought stock with this well -known..
— Jim Cramer (@jimcramer) November 4, 2019

McDonald's (MCD - Get Report) , was one of the Dow's biggest losers, sliding 2.8% to $188.61 after the fast food restaurant chain fired CEO Steve Easterbrook after a consensual relationship he had with an employee violated company policy.


Wright Medical (WMGI - Get Report) soared 31.9% to $29.04 after the joint implant maker unveiled $5.4 billion a deal to be acquired by medical device industry giant and larger rival Stryker (SYK - Get Report) .


https://www.thestreet.com/markets/dow-hits-record-high-on-signs-of-trade-talk-progress-15151492?puc=minyanvill&cm_ven=MINYANVILL






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Comments (32)
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Stan Areted

Yes, just saw the end of the trading day!

Thank you President Trump, MAGA!


Just see what the market does if Liz Warren, Bernie or Unca Joe is elected!

Yea, Barry, "new normal."

Only in Barry's dreary world.

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Chi

Hey Catkin, do you have that chart prior to 2014? Why doesn't it show all of Obama's presidency?

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jama7(6)

Geez. What a shock that corporations LOVE de-regulation, 0 to low $$ taxes and a rich, greedy SOB in the WH who sides with them and who gives big banks carte blanche. Shocking.

AGAIN. The stock market is not indicative of the health of the nation's economy.


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jama7(6)

And yes....may we see the charts prior to 14?

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catkinZ8a



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catkinZ8a



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Chi

Who said that quote, catkin?

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catkinZ8a

November, 4, 2019
DOW----S & P 500----NASDAQ Close At Record All-Time Highs

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maifleur01

Record highs were trumpeted before the 1929 and 2008 housing crashes. While nice there is a problem with balloons.

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Carro

The magic wand continues....

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catkinZ8a

LOL @ the sour grapes.

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maifleur01

Not sour grapes but a look at the number of companies that are shrinking and not just because of mergers. Lots of empty business space seen when traveling.

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catkinZ8a



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Iris GW

The stock market is not what I base my decision on when deciding who to vote for. There is much, much more to life, health, and happiness.

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catkinZ8a

The radical Socialist Dems in Washington's call for impeachment is NOT WORKING!

More all time highs for the DOW, S&P and NASDAQ!

DOW at 27, 751!

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Chi

Lol yep Trumpsters are working hard to try to convince us of that.

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Ziemia(6a)

Everyone knows Obama had that speaking style. Often joked about by late night comedians.

All presidents have individual characteristics.

One of Trump's is inventing words.

President Trump didn't mistakenly say "oranges" when he meant to say "origins." The White House wants Americans to be clear about that.

Of course, he didn't say "origins," either — the proof is in the tapes. No, what he really said was the heretofore unbeknownst word, "oringes," according to White House transcripts.

https://theweek.com/speedreads/833032/white-house-bafflingly-claims-trump-actually-said-oringes-not-oranges-

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Ziemia(6a)

Anyone find the definition of oringes?

Official Transcript

"And I hope that this investigation now, which is finished — it’s totally finished. No collusion. No obstruction. I hope they now go and take a look at the oringes [origins] — the origins of the investigation, the beginnings of that investigation."


https://www.whitehouse.gov/briefings-statements/remarks-president-trump-nato-secretary-general-jens-stoltenberg-bilateral-meeting/?utm_source=link&utm_medium=header

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Ziemia(6a)

Rather live in society with decent social services (schools, roads, affordable-unbankruptable health care, housing and food codes and inspections) than in one with more anarcho-capitalism.

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socks(10a)

Market is up but nothin' else is working.

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queenmargo

Market is up but nothin' else is working.

Unemployment is at an all time low, lol lol lol

Next!

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barncatz

This is the third time I've seen "sour grapes" posted in two days. Fox News? Sweet Kellyanne? Anyway, here's more sour grapes about that unemployment rate:

...

The problem is that the unemployment rate, which is publicly updated by the Labor Department on the first Friday of every month, is an insufficient statistic, despite all the attention it gets. Sure, it tabulates the number of men and women who are actively job-hunting. But it leaves out the growing numbers who have stopped actively looking....

Most accounts of the June [2019] job numbers didn’t use that double-barreled, and sobering, approach to reporting the figures. Yet a falling participation rate suggests a growing accumulation of men and women who are neither working nor unemployed, but rather disengaged....


https://www.nytimes.com/2019/07/11/business/low-unemployment-not-seeking-work.html

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catkinZ8a


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AnnKH

catkinZ8a

The radical Socialist Dems in Washington's call for impeachment is NOT WORKING!


Impeachment proceedings are not intended to destroy the stock market. They are intended to hold the President (and his minions) accountable for their actions.

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how2girl

...and the highest national debt in history. He promised to eliminate the debt in 8 years, so far he’s increased it by 68%.

He also said the impeachment hoax was hurting the Stockmarket, so congrats go to the Dems for turning the stock market around, but kudos to Trump for losing the trade war & causing a spike in the market.

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catkinZ8a



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BetsyJ

Don’t Believe the Hype: Working Families Continue To Struggle In A Slowing Economy

The political spin machine is working overtime to deny what the economic data have been clearly pointing to since the start of the year – a slowing U.S. economy.

An honest look at the data shows that average American families are now seeing fewer pay increases than just a few months ago, resulting in, among other things, near-record high levels of consumer debt. Even President Trump apparently is worried enough about the state of the economy that he is considering a range of new tax cuts for the rich. Instead, Congress and the administration should consider a range of proven policies that would actually boost economic growth and shrink inequality.

Perhaps the most worrisome sign for the economy is the slowdown in wage growth for average Americans. From July 2018 to July 2019, inflation-adjusted wages for most American workers, which the Bureau of Labor Statistics calls “production and non-supervisory employees,” grew by just 1.6%, down from the 2.1% peak that was measured from December 2017 to December 2018.

The economy may be booming, but nearly half of Americans can't make ends meet

By virtually any yardstick, the U.S. economy is doing great. Unemployment is near a two-decade low. The stock market is strong. Corporate profits are at record highs.

Yet a report out this week finds that almost half of Americans are having trouble paying for basic needs such as food and housing.

“What we found is that a lot of people have to devote much of their income to fixed expenses like rent or healthcare,” he told me. “If they’re hit with a large, unexpected expense, they simply can’t cover it.”

The stats become more troubling the deeper you drill down. More than 35% of families with at least one working adult reported difficulty meeting at least one basic need last year.

Almost a quarter of Americans experienced food insecurity, which is to say they didn’t always know if they’d be able to eat if they were hungry.

A staggering 18% faced issues paying medical bills, and nearly as large a percentage reported skipping treatment for an ailment because they couldn’t afford it.

Slightly more than 10% of Americans missed a rental or mortgage payment. Thirteen percent couldn’t pay a utility bill.

While much of these economic woes were concentrated among lower-income households, the Urban Institute found that many middle-class families also struggled to pay their bills.

“About 20% of middle-class people are having trouble, mostly with healthcare,” Karpman said.

That means a family of three making $80,000 a year, or a single person making at least $50,000, may be living paycheck to paycheck — and could be devastated by a single medical bill.

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jama7(6)

Much of the income disparity is because of the types of jobs out there now; it's etiher a highly skilled position which pays $$$ or a job in retail, service which pays min wage or close to it. What's disappeared are the middle of the road and entry level jobs which we used to have in abundance up until the 90's or so. Co's were willing to train in many instances and usually offered advancement, decent $ and benefits. I don't see many, if any of those jobs anymore. Lots of people have smarts but not the type of specialized skills or education (there's that $$ thing again...you've got to have it to make it....) that lends itself to medical or technical fields which are prob the 2 fastest growing segments. Except for construction, I think all of the top 10 growing jobs are in tech and medical.

To show the diff, in the early/mid 70's, I was in my early 20's and had an Assoc in Design and a year in the field which I had decided to leave. I applied with a recruiter and was sent on 4 interviews in 2 days. I interviewed for an architects asst, an asst librarian/statistician in an investment firm, a marketing asst with an ad agency, & an entry level mgmt position with Proctor & Gamble. A wide variety of jobs, all willing to train. They asked for basic office skills, enthusiasm, a willing attitude and a well rounded person...nothing specific. I was offered all those positions but ended up going into recruiting with the firm that sent me on the interviews...lol. Can you imagine having that MANY good jobs to choose from in 2 days with top companies nowadays? With no related experience/schooling? Many of those jobs are gone or now demand 4 yr college and sev yrs exp. Gawd knows where one gets that exp.......

As I worked in recruiting for almost 20 yrs, I saw the trends changing first hand. As our population started growing faster and faster so grew the requirements for jobs if for no other reason than to cut down on the # of applicants. Now employers saw that they could demand more schooling, more exp and get it; it wasn't as if the types of jobs had changed yet. The more entry level people were now really struggling to find positions that had once been open to them. I'm not sure where someone's who's not blessed with these types of tech skills or ability is supposed to fit in; apparently they're not going to. They're ending up in low paying, go nowhere service/retail jobs, some working 2 or 3. Add to this robotics and AI putting people out of work and we've got BIG problems.

We end up with 2 extremes in wage earning which is not a healthy economy. I'm not sure what the answer is going to be but we need some brains to get on it.

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BetsyJ

Much of the income disparity is because of the types of jobs out there now;

Why Alabama and Mississippi have suddenly gone in opposite directions

Data released by the Commerce Department on Thursday confirmed that not only is Alabama’s economy twice the size of Mississippi’s, but it also has grown almost three times as fast over the past year

Both states rely heavily on production and manufacturing jobs, often in industries vulnerable to trade disputes and global turmoil. But Mississippi relies more on low-wage versions of these production jobs than does any other state in the union.

Alabama, on the other hand, diversified beyond low-skilled manufacturing when its base began to erode in the 1990s, Hutchison said. It now ranks near the top in its reliance on higher-paid, but still trade-sensitive, manufacturing jobs.

“We are a manufacturing-heavy state,” she said. “We have been ever since the textile mills started going down,” she added later.

The state continues to attract new heavyweight employers. Late last year, Mazda Toyota Manufacturing, a joint venture between the two manufacturers, announced they would invest $1.6 billion in a new SUV plant in the high-tech metropolis of Huntsville, best known as the home of NASA’s Marshall Space Flight Center. Construction has already started, and the 3.1 million-square-foot plant is expected to employ as many as 4,000 people when it comes online in the spring of 2021.

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blfenton

Saying that the DOW has set a record today so that shows that everything is tickety-boo is like saying it's cold today so global warming isn't happening.

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