Wow, best day for the Dow since 1933

Ann

That's encouraging. Maybe we're not out of the financial woods yet, but what a single day in the market!

https://www.msn.com/en-us/money/markets/stocks/ar-BB11DCB1?ocid=spartandhp

SaveComment125Like2
Comments (125)
Thank you for reporting this comment. Undo
HU-885118952

Trump out maneuvered Pelosi in her attempt to crash our economy and drive us into a depression.

Thanks for the link, Ann.

4 Likes Save    
Thank you for reporting this comment. Undo
Michele

Well bully for you

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

"Maybe we're not out of the financial woods yet"

Maybe??????....

2 Likes Save    
Thank you for reporting this comment. Undo
blfenton

That $2 trillion stimulus package had better pass and do what the stock market is hoping for, otherwise watch out tomorrow.

Nancy Pelosi's statement

House Speaker Nancy Pelosi told CNBC’s Jim Cramer there is “real optimism” in Congress over a stimulus deal being reached. “We think the bill has moved sufficiently to the side of workers,” she said.

It looks like it's bipartisan to me. I don't really care but I just need to see my mom's investment portfolio recover quickly to pay her assisted living facility bills.

1 Like Save    
Thank you for reporting this comment. Undo
nancy_in_venice_ca Sunset 24 z10

Wish we were cheering adequate supplies arriving in New York to fight the Covid-19 pandemic.

12 Likes Save    
Thank you for reporting this comment. Undo
Ann

Blfenton, I hope her portfolio does recover quickly!

Save    
Thank you for reporting this comment. Undo
maifleur03

Just think if this country had an good leader the economy would have had a bad dip but not the crash that it did. Cheer all you want but one day is not more than a weak ray of sunshine before things improve which may not be for years.

4 Likes Save    
Thank you for reporting this comment. Undo
Gizmo

How apropos, harking back to The Great Depression for good news.

6 Likes Save    
Thank you for reporting this comment. Undo
blfenton

Thanks Ann, you and me both. Not just her but for all those who are in the same position as her.

@nancy_in_venice - I was wondering the same thing - I was wondering if that bill includes anything for the medical system or if there is a separate bill for that or if that is all on the individual states to pay.

I was also wondering which industries are being targeted by this bill - those that trump is particularly interested in such as the golf and tourism industry or is there some money for the small and independent businesses. They were becoming, for many areas, the backbone of the economy.

1 Like Save    
Thank you for reporting this comment. Undo
Ann

Elvis, I was wondering the same thing. That did sound like a good day in the market was not good news for Michele.

Save    
Thank you for reporting this comment. Undo
maifleur03

bifenton and others if you have had a big dip in your retirement accounts 401/456 etc. be aware that it may have triggered increased taxes being withheld. Check with whoever manages your accounts or if you have one your accountant because the amount withheld could increase to 20%.

Save    
Thank you for reporting this comment. Undo
jerzeegirl (FL zone 9B)(9b)

If I were a speculator, I would be buying too.'

Also, the Dow is not the market.

1 Like Save    
Thank you for reporting this comment. Undo
Gizmo

elvis

Michele

Well bully for you

Well, I'd say that's a pretty good indicator of what some have long
suspected. There are those among us who would like to see the USA fail.
Which country is your allegiance to, "Michele"?

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

j'accuse! LOL

Be careful Michele, Republicans may reopen their un-American activities committee knowing their authoritarian bent

3 Likes Save    
Thank you for reporting this comment. Undo
heri_cles

I think a 2 Million dollar Stimulus is overstated and premature. It is easy to print money.


Save    
Thank you for reporting this comment. Undo
Iris GW

When you fall that far, it's no surprise it can jump back up pretty high again.

2 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Wow, best day for the Dow since 1933

Yeah, the following 6 years were Fantastic! Let's celebrate!

4 Likes Save    
Thank you for reporting this comment. Undo
Michele

Be careful? I’m careful. Taking care of people. What happened to the other comment?

I just find it a strange time to celebrate right now. No matter how much money your raking in. At least have some decorum

6 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Not certain if anyone is raking in money, there's a lot of wound licking and excuse making going on though.

4 Likes Save    
Thank you for reporting this comment. Undo
Kathy

6Trillion Package largest stimulus in history. I only hope they don’t cut Medicare, Medicaid., SSI and SS to pay it back while big business gets low interest loans. I want to know what the criteria is and who will make those loan decisions.

We have already given allocated approx 30 trillion to farmers (most going to big farms) because of the tariff wars. Trump has paid no repercussions from his supporters for the debt he has created. They will have no foot to stand on when money is allowed for workers and the poor, imho.

2 Likes Save    
Thank you for reporting this comment. Undo
blfenton

Kathy - Thanks, I wasn't hearing things. I was washing the floor (on my hands and knees, got nothing else to do) and heard the $6 trillion number and hit my head on the underside of the table coming up fast. How did the stimulus package go from two trillion to six trillion in the two hours that i last posted. Have I misinterpreted something?

2 Likes Save    
Thank you for reporting this comment. Undo
Kathy

I googled and saw it was 2T a couple days ago. I was shocked also.

Save    
Thank you for reporting this comment. Undo
Cookie8

"Just think if this country had an good leader the economy would have had a bad dip but not the crash that it did. "

No, this is world wide. It is crashing everywhere.

I do not understand this fake economy that is being made.

"6Trillion Package largest stimulus in history. I only hope they don’t cut Medicare, Medicaid., SSI and SS to pay it back while big business gets low interest loans. I want to know what the criteria is and who will make those loan decisions."

Don't worry Kathy, the magic money machine is taking care of everything, everywhere. These decisions being made...yikes.

3 Likes Save    
Thank you for reporting this comment. Undo
Annie Deighnaugh

Ever hear of the dead cat bounce?

2 Likes Save    
Thank you for reporting this comment. Undo
ingrid_vc so. CA zone 9

I'll say it again here: I wish this country had an intelligent and sensible leader.

5 Likes Save    
Thank you for reporting this comment. Undo
heri_cles

This is an election year. Scale it back so it can be used as needed for those that have the least and are being hurt the most.

Mail in balloting allowed in every State has to be part of it or the Bill is a non-starter.

You can't allow Trump to self elect himself with a 2 Trillion dollar stimulus package and an Easter party.

1 Like Save    
Thank you for reporting this comment. Undo
Tilly Teabag

Great, the stock market is up. That will be welcomed by the inheritors of the people who will die.

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

"Mail in balloting allowed in every State has to be part of it or the Bill is a non-starter."

And a slew of diversity themed requirements, collective bargaining power for unions, increased fuel emissions standards, suspending enforcement of some immigration laws, and this list goes on. NO, not going to happen! All completely unrelated games from Pelosi. Everyone is watching your games and another backfire, Nancy. You're hurting your party even more. If you don't pay attention, you'll put your party on life support.

2 Likes Save    
Thank you for reporting this comment. Undo
Nana H

My understanding is that many of the things Ann mentioned were conditions for the loans not stand alone items. Not sure how many made it in or didn't.

I agree though that anything unrelated to the bailout has no business in a bill like this. If Pelosi is doing that she is wrong.

They are trying to pull some of that in Canada......won't fly.

BTW Futures were up now down again.......no idea why but one analyst said it was because Trump was pushing a premature end to the isolation rules.

ETA It is being reported Pelosi wants the Bill passed out of the House by unanimous consent so obviously she is supportive of the deal struck. But hats off to Schumer and Mnuchin...great job and great cooperation.

Save    
Thank you for reporting this comment. Undo
elvis

It is being reported Pelosi wants the Bill passed out of the House by unanimous consent so obviously she is supportive of the deal struck. But hats off to Schumer and Mnuchin...great job and great cooperation.

Thank goodness you're pleased.

They are trying to pull some of that in Canada......won't fly.

Perhaps you'd share some details with us, we'll listen and then comment on Canadian politics. That would be a change of pace we could enjoy. After all, if you have a stake in our politics/economy/health, surely it's a 2-way street.

4 Likes Save     Thanked by Ann
Thank you for reporting this comment. Undo
queenmargo

Great, the stock market is up. That will be welcomed by the inheritors of the people who will die.

Better to die rich. ')

1 Like Save    
Thank you for reporting this comment. Undo
Michele

Seeing people suffer is NOT funny

ETA To me any way. Really gives off the ivory tower vibe.

2 Likes Save    
Thank you for reporting this comment. Undo
queenmargo

Who said it was?

1 Like Save    
Thank you for reporting this comment. Undo
queenmargo

So what. Are yo saying no one can smile or laugh or make a light joke?


Save    
Thank you for reporting this comment. Undo
Nana H

Elvis, I have a stake in American politics and especially the economy from that follows an interest. If you have a similar stake in Canadian politics and her economy feel free to do your own research and comment as you wish. If you have a stake , you would be wise to do so.

2 Likes Save    
Thank you for reporting this comment. Undo
queenmargo

Michele

Seeing people suffer is NOT funny

ETA To me any way. Really gives off the ivory tower vibe.

Michele

Isn’t that a smiley face. Where’s your “lol”?

Listen Michele, you can think what you want. If you want to bathe in negativity, proceed.

Not sure where I have ever given the ivory tower image, lol.

1 Like Save    
Thank you for reporting this comment. Undo
queenmargo


deegw

I'm going to email Houzz and suggest they set up a new forum. Hot Bickering.

Good, they will probably have you spear head the forum due to so much experience and leadership')

Like S

2 Likes Save    
Thank you for reporting this comment. Undo
Cookie8

I watch George Gammon here and there but this podcast is a good one. LOL, only 5 minutes in but minute one in, it's going to be a good one.



Save    
Thank you for reporting this comment. Undo
lurker111

I'm going to email Houzz and suggest they set up a new forum. Hot Bickering.

I thought HT meant Hate Trump.

1 Like Save    
Thank you for reporting this comment. Undo
mudhouse

BTW Futures were up now down again.......no idea why but one analyst said it was because Trump was pushing a premature end to the isolation rules.

I agree with the analysts who think the market probably hasn't yet reached a bottom (most I've heard still say that.) It will continue to be very rocky as we go through the awful news of more US deaths in the coming weeks. The reaction to the stimulus bill is probably an uptick of relief (justifiable) but it seems logical that the market will react to the fact that we're not through the worst of the crisis yet. Not by a long shot.

Edited to add, it would be great if the above is wrong...!

2 Likes Save    
Thank you for reporting this comment. Undo
Cookie8

"Edited to add, it would be great if the above is wrong...!"

Wouldn't it be though. In my negative attitude towards bailouts, QE's (then allowing buybacks on top of that), every expanding markets that see no limit -. I would like to be wrong too. I agree with you and analysts, I don't think this is the bottom. And then to deal with the repercussions...

Save    
Thank you for reporting this comment. Undo
Nana H

Cookie, good news is no buy backs for a year!

Mudhouse, don't think me snarky when I say I want you to be wrong too!! ; )

1 Like Save    
Thank you for reporting this comment. Undo
Kathy

I believe we will have a new normal for a long time even after CV levels off. Until there is an effective treatment people will be leery and self distance when possible. This will affect our economy globally for the long term.

Save    
Thank you for reporting this comment. Undo
mudhouse

I believe we will have a new normal for a long time even after CV levels off. Until there is an effective treatment people will be leery and self distance when possible. This will affect our economy globally for the long term.

Never listen to a retired craftsperson for financial advice or insight. ;-)

But I tend to believe those who say consumers will have a lot of pent up energy, and I think the stock market will reflect that eagerness to eat out and buy stuff, once people feel it's safe enough to do so. Honestly I wish I could eat out every day right now, just to support my local businesses. And we don't normally dine out much. I think people (with enough income to help) will find a way to do what they can to help those who've been hurt.

I already know two people personally who've lost their jobs, and it will take a while to get things back. I just hope the number of small businesses that can't afford to reopen isn't huge.

1 Like Save    
Thank you for reporting this comment. Undo
Cookie8

Thanka Nana H. Off to google some good news!

Save    
Thank you for reporting this comment. Undo
Ann

Cookie, you could also google the market for some good news (at present). We've all seen huge fluctuations day by day and within the same day, but another 500 Dow points tacked on in the first couple hours of this trading day. I know I'd be pleased if we were to see a second up day in a row. But, a lot can happen in 4 hours (in either direction).

3 Likes Save    
Thank you for reporting this comment. Undo
lurker111

So many opportunities, I don't know what to buy. I want so many and can only afford a few.

2 Likes Save    
Thank you for reporting this comment. Undo
HU-885118952

Ann, it's been a relief to see the market numbers start to go up. We've got a long way to recover, but I hope this trend continues. Let's hit 22 today!

3 Likes Save    
Thank you for reporting this comment. Undo
dublinbay z6 (KS)

I know next to nothing about markets and investments, but I did notice the following article which I thought was thought-provoking.

-------------------------------------

"Republican Party's Boast About The Stock Market Gets An Immediate Fact-Check

The Republican National Committee picked an odd time to boast about the stock market.

While the Dow Jones Industrial Average has steeply dropped over the past month, it rallied on Tuesday to post its biggest one-day percentage gain since 1933, when the nation was in the midst of the Great Depression. The jump came amid reports lawmakers were nearing a deal on a plan to boost an economy that’s nearly come to a standstill due to the coronavirus pandemic.

The RNC shared a clip of President Donald Trump bragging about the market, then fired off a boast of its own:

---

"GOP

Dow posts BIGGEST percent gain since 1933 "

---
But as the RNC’s critics on Twitter were quick to point out, the gain didn’t come close to erasing the massive losses that have seen the market lose about a third of its value and erase virtually all of the gains made since Trump took office in 2017."

https://www.yahoo.com/huffpost/republican-stock-market-boast-073700776.html

--------------------------------

Oops--not much to celebrate after all, it seems.

Kate

2 Likes Save    
Thank you for reporting this comment. Undo
mudhouse

Well, of course the gain wasn't enough to offset the recent losses. Who would think that was true? We can all see the numbers.

That doesn't mean it's not a good thing to emphasize positive events as they occur, mixed in with the negative events we all have to get through. Good heavens, is there some new rule against pointing out positive things? Absolutely nobody is saying it's all gravy from here on out.

In a war, we should celebrate small victories as we keep fighting. It doesn't mean the fight is over.

3 Likes Save    
Thank you for reporting this comment. Undo
maddie260

And let’s not forget the BIG deficit we already have due to republCONs. We know they will try to blame the WHOLE deficit on the virus. WE WILL NOT LET THAT HAPPEN!

3 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Some recent posts describe a $6 Trillion Bill once it's all said and done, maybe. That number would bust right through the $30 Trillion Fed Debt total. Seems like only yesterday when trumpsters were complaining about Obama's $18 Trillion Debt of which 9 T was during his 8 years in office. Trump strives to outdo Obama, looks like he will with his share of the Fed the Debt really fast.---- $12 Trillion in 4 years compared to Obama's 9 T in 8 years. maga!

4 Likes Save    
Thank you for reporting this comment. Undo
HU-885118952

We'll never forget how the Democrats are holding up the coronavirus relief bill while Americans are dying.

4 Likes Save    
Thank you for reporting this comment. Undo
HU-885118952

as though they thought their financial losses were merely a passing blip on the screen.

Kate, until you are holding paper money in your hands, it's ALL a blip on the screen.

I mean, you get how the market works, right?

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

"We'll never forget how the Democrats are holding up the coronavirus relief bill while Americans are dying."


Am I missing some news?

Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Acknowledging the reality of the situation is a far cry from celebrating, if you have some alternative facts you'd like to celebrate please have at it.

Save    
Thank you for reporting this comment. Undo
HU-885118952

You might have missed the 115 seconds the House was in today.

1 Like Save    
Thank you for reporting this comment. Undo
HU-885118952

We have 22K, Ann ;-)

2 Likes Save    
Thank you for reporting this comment. Undo
Nana H

yes I am obviously missing something..off to check

Save    
Thank you for reporting this comment. Undo
paprikash

Pelosi and Schumer = pond scum

2 Likes Save    
Thank you for reporting this comment. Undo
soupgirl53

And we will always remember Mitch McConnell had no problem taking a 3-day weekend in the midst of this crisis.

See how this works? Do you really want to go there when the Democratic input made the bill better for the American people and the Democrats can prove what provisions they added to the bill? Not smart.

4 Likes Save    
Thank you for reporting this comment. Undo
Nana H

Did find this...."Three Republican senators said a drafting error in the bill needed to be fixed immediately"

Save    
Thank you for reporting this comment. Undo
Kathy

When this disease levels off experts are saying hot spots for transmission will be grocery stores and such. This leads me to believe social distancing will still be needed for a longer time unless you consider yourself low risk or just get impatient with being cooped up.


1 Like Save    
Thank you for reporting this comment. Undo
Ziemia(6a)

DOW is up largely due to Boeing. Due to having a secret bailout deal. Cuz it's national security.

2 Likes Save    
Thank you for reporting this comment. Undo
Nana H

Yes, it appears three Republican Senator's are holding up the vote on the Bill.... Not that that will be acknowledged......but oh those scummy Dems.

4 Likes Save    
Thank you for reporting this comment. Undo
Cindy Outter

Where does the 6 trillion come from?

Adding it to the existing deficits?

1 Like Save    
Thank you for reporting this comment. Undo
Ann

"but the markets still have a loooong ways to go before we recover even half of the investments we lost"

I haven't gotten out my calculator and looked up the exact Dow high and the recent low, but a quick calculation in my head indicates we've already recovered somewhere between 1/4 and 1/3 of the entire loss in just two days. So, it's possible we have a "loooong" way to go to regain the approximately 5000 Dow points (which is about "half of the investments we lost"), but we've made some pretty good progress with regaining about 3000 of that 5000 in two days:)

3 Likes Save    
Thank you for reporting this comment. Undo
Ann

"Did find this...."Three Republican senators said a drafting error in the bill needed to be fixed immediately""

Whew, could be intense drama:)


1 Like Save    
Thank you for reporting this comment. Undo
Kathy

If you invested in the Dow 500 they just said you’ve lost approx 21% for the year.

Save    
Thank you for reporting this comment. Undo
Nana H

No drama, certainly not intense , just fact. They are holding the Bill up.

Why is that drama but accusations against the Dems in the House isn't? Accustatons like this.

"We'll never forget how the Democrats are holding up the coronavirus relief bill while Americans are dying." ......Now that's intense drama.

Never mind, I know the answer.

Edited

3 Likes Save    
Thank you for reporting this comment. Undo
Ann

"Yes, it appears three Republican Senator's are holding up the vote on the Bill.... Not that that will be acknowledged......but oh those scummy Dems."

We'll see if it takes several days to fix the drafting errors (I'll take your word for it because I just got home from a very long walk and haven't heard the news myself). Yup, the Dems (primarily Pelosi) have been super scummy.

2 Likes Save    
Thank you for reporting this comment. Undo
Nana H

"We'll see if it takes several days to fix the drafting errors
(I'll take your word for it because I just got home from a very long
walk and haven't heard the news myself)."

Perhaps your phrasing or sentence structure is off. I never said anything about several days so no need to take my word for it.

1 Like Save    
Thank you for reporting this comment. Undo
Save    
Thank you for reporting this comment. Undo
Kathy

Republicans right now are holding up COVID relief package because the unemployment insurance is TOO GENEROUS," Sen. Brian Schatz, D-Hawaii, tweeted. "I’ve heard zero business leaders or workers ask me to not make too much money available. My advice is: Ask anyone in your home state. They will tell you to pass the bill."

Is this considered scummy?

3 Likes Save    
Thank you for reporting this comment. Undo
Nana H

Of course not. Whatever the Republicans object to is reasonable and defensible. Only Democratic objections are scummy.

Just as pointing out Republicans holding up the Bill is "intense drama" while saying "We'll never forget how the Democrats are holding up the coronavirus relief bill while Americans are dying." Is reasoned, calm dialogue.

3 Likes Save    
Thank you for reporting this comment. Undo
Ann

Nana, the take your word for it was about drafting errors. Note, the open paren to that part of the sentence immediately followed "drafting errors". I had yet to learn of those errors, except from your mention of them. I had been gone and had just arrived home and hadn't yet heard that news, except from you.

The "several days" was my reference to Pelosi's games which have held up the entire process for several days. Obviously, you wouldn't be discussing that delay but I sure will:)

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

Thanks for clearing up an otherwise confusing post.

Save    
Thank you for reporting this comment. Undo
Ann

To you, maybe. I thought it was very clear and my eyes are okay.

1 Like Save    
Thank you for reporting this comment. Undo
Kathy

Senate Republicans wrote the initial bill. Who would think that would pass without Dems having a say? That is naive.

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

I am now, at least, a little informed about the nature of the "drafting errors". The concerns are that the bill, as written, will provide more money to workers (between stimulus and unemployment) than work will provide to them. This situation will create the very unfortunate situation of people being better off financially by not working rather than working at the job they had before the pandemic. I think any logical person can see this is not an acceptable situation to place our job market, workers, and employers in, at the time the economy reopens. We'll have quite a predicament if the bill makes it more profitable to not return to work!

In contrast, Nancy's "several days" delays were of this variety:

"a slew of diversity themed requirements, collective bargaining power for unions, increased fuel emissions standards, suspending enforcement of some immigration laws, and this list goes on".

2 Likes Save    
Thank you for reporting this comment. Undo
Nana H

" I thought it was very clear and my eyes are okay"

Ann, why do you find it necessary to take personal shots? It's really unbecoming and unkind to boot.

Again thanks for clarifying your post .

Edited

2 Likes Save    
Thank you for reporting this comment. Undo
chipotle

Good lord!

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

Ann, what factual information do you have that Pelosi held up the Bill several days ? Schumer certainly did and good for him!

1 Like Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

"Where does the 6 trillion come from?"

It's pulled out of the government's hindside.

----------------------------------------

"Adding it to the existing deficits?"

Debiting it forward as a Big Surprise to the next generation.

2 Likes Save    
Thank you for reporting this comment. Undo
Kathy

Every worker doesn’t get unemployment. Temp workers and contract workers for instance. Some other workers will not get it unless their state declares an emergency.

If the state doesn’t have a shelter in place workers cannot claim unemployment. I know school workers in Fl cannot file because DeSantis hasn’t declared SIP. He says some counties can if they want but he hasn’t.

Even bus drivers are called in to clean classrooms to keep people getting a paycheck.


eta—-That May be why Trump hasn’t instituted total shutdown. Too many states are still working people. They have to work in groups.

Save    
Thank you for reporting this comment. Undo
blfenton

Re The $6 trillion - The other $4 trillion is for the Federal Reserve to use as an emergency bailout for whatever Wall Street company or bank that needs it. This is all that I can find.

Initially I though it might be needed to refinance government bonds coming due but that doesn't really make sense.

https://nypost.com/2020/03/24/coronavirus-stimulus-package-to-exceed-6t-larry-kudlow-says/

1 Like Save    
Thank you for reporting this comment. Undo
Kathy

Why aren’t we hearing about it? Someone needs to ask Mnuchin. Does it means banks are at risk? Our federal insured money?

Save    
Thank you for reporting this comment. Undo
blfenton

Actually not too long after I posted my comment Chris Hayes asked someone about this very thing. So. once his show is over at about the :15-:20 mark is the discussion. I just happened to catch it and very fortuitous. It can also be used for corporations. I can't remember who he was talking to but this guy figures it's a bailout for poor-decision making for companies over the past few years.

It is in the stimulus package at $425 billion (I don't know under what) but there is an allowance for 10X that amount available on an emergency basis.

Save    
Thank you for reporting this comment. Undo
Cindy Outter

Where is the 'best day for the DOW since 1933?" I got off a telecon, and found nothing worthwhile to celebrate about.

1 Like Save    
Thank you for reporting this comment. Undo
arthurm2015(Micro-Climate, Zone 10b Sydney, Australia)

Has the bottom been reached? That is the $64 dollar question. Market down so much that there are bargains provided the virus doesn't go on for too long.

There are also companies that can weather the shutdown here and still pay a dividend for half year ending June 30.

I do not know all the ins and outs of the Aussie bi-partisan rescue package but I do applaud the thrust of helping people made unemployed by the shutdown of pubs and clubs and small business.

Miss going out for lunch.

Little Aussie Battler Stockmarket up a tiny bit today.


Save    
Thank you for reporting this comment. Undo
Ann

Nice! Best 3 day gain since 1931 (just quoting Cavuto just now at the start of his show) so no link.

4000 Dow points in 3 days.

"but the markets still have a loooong ways to go before we recover even half of the investments we lost"

Maybe not long at all let alone "loooong". Only about 1000 points to go and we're all the way to that halfway point.

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

Today, I did check the high and low and get my calculator out. The Dow high was 29,568. The recent low was 18,213. The point loss altogether was 11,355. We've come 4,339 points off that recent low and have now recovered 38% of the entire loss - in a matter of days.

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

Not such a good day today even with the passing of the relief Bill . Guess maybe the almost 100K cases , making the US the country with the most cases, the and the 1500 deaths put a damper on things.

1 Like Save    
Thank you for reporting this comment. Undo
ubro(2a)

He responded to me yesterday by saying how crazy it is that liberals actually don't want the economy to recover or do well, completely based on their Trump issues.


Don't forget to tell him that liberals want the economy back but unlike Trumpers they are not willing to sacrifice the lives of their loved ones.

Save    
Thank you for reporting this comment. Undo
Kathy

Ann, you are so wrong thinking and worse saying Liberals don’t want the market to recover. Dems have money invested and the last GOP president set us back 10 years. This one is on par to do the same thing, you can bet the big corps and the wealthy got their money up front, while workers will be left paying the price going forward and might also lose their 401s and retirement.


If I were going to bet on the stock market, I would do it when a Democrat is President.


2 Likes Save    
Thank you for reporting this comment. Undo
Cindy Outter

DOW is not equivalent to Stock Market, Stock Market is not Economy, more important. NO ONE should use stock market to judge success of a president and well being of citizens in the country.


2 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Somebody lost a few bucks today.

Save    
Thank you for reporting this comment. Undo
Stan Areted

For most investments of just owning and holding stock, it is not a loss or gain.

It's not until you sell it.

3 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Yeah, but you still feel the burn, glad I burned thru my 401 a while back before it burned me. Booze and antacid stocks are my 2 fav picks today, if I were to pick.

Save    
Thank you for reporting this comment. Undo
Ann

It's been an excellent few days in the market, vgkg! We gained about 4000 points in 3 days and gave back a little under 1000 today. Any time I enter any 4 day period and the market comes out of that particular 4 days with a Dow gain of 3000 points, that's great news.

2 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Sure Ann, just glad I'm out. I highly doubt the market will return back to it's 29,000 hay day for many years to come, if ever. seeing that the fed deficits will continue balloon from here on out and that the odds of this virus returning with a vengeance in the fall are good (or not good). That's assuming it ever leaves.

2 Likes Save    
Thank you for reporting this comment. Undo
arthurm2015(Micro-Climate, Zone 10b Sydney, Australia)

I am in, thank goodness the experts are managing my Superannuation, hopefully the experts can do a good job and the monthly amount of money will continue to arrive in my bank account.

The little Aussie Battler sharemarket fell heavily on the last day of the week, but a different pattern is emerging, I think the search is on for the companies that can survive these grim times, so among the big losers there were some gainers.

50 years since I bought my first stock and I still love the stock market, the listed limited liability company is a great invention.

One day, the hard right will realise that trickle up is more effective than trickle down.

2 Likes Save    
Thank you for reporting this comment. Undo
Ann

"I highly doubt the market will return back to it's 29,000 hay day for many years to come"

If I were to make a bet, my bet would be that we'll hit 29,000 again in 2020.

Save    
Thank you for reporting this comment. Undo
Kathy

Companies are cutting back and laying off people permanently now in anticipation of lower profits for the longer term. This is not a short lived virus. It might flare up again in the fall.

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

I don't think we can possibly imagine when things will start to recover in a solid fashion. Not as long as we have no idea how long this crisis will last and how deep it will go globally. I do believe things will stabalize and recover just not sure by how much and when.

We are OK given we are retired and our income fixed . My kids are OK because their window is years and years away but I feel for anyone who is counting on their investments now or in the next few years.

2 Likes Save    
Thank you for reporting this comment. Undo
ubro(2a)

If I were to make a bet, my bet would be that we'll hit 29,000 again in 2020.

I guess it depends on how many people are left in the world eh? I guess it will depend on how many US citizens die, and how expensive it will be for the country. Don't count your chickens.

1 Like Save    
Thank you for reporting this comment. Undo
ubro(2a)

We are OK given we are retired and our income fixed . My kids are OK because their window is years and years away but I feel for anyone who is counting on their investments now or in the next few years.

That would be us.

1 Like Save    
Thank you for reporting this comment. Undo
elvis

We'd all do well to remember that we should stand together and not appear torn and disorganized in the eyes of our adversaries. If the world balance of power is upset the losing side LOSES EVERYTHING. Forget nest eggs and pension checks. Think about that.

There's a bigger picture than who's to blame for what and who you don't like. Stay strong within your own countries, we shouldn't be infighting politically, it sends a very, very dangerous message.

3 Likes Save    
Thank you for reporting this comment. Undo
nancy_in_venice_ca Sunset 24 z10

we shouldn't be infighting politically, it sends a very, very dangerous message.

Like some country wants to take over the global epicenter of Covid-19?

I say we're safe from a ground invasion; countries want to keep USians out because of the contagion.

And our adversaries are up to their own eyeballs fighting Covid-19.

Save    
Thank you for reporting this comment. Undo
Nana H

Elvis, I applaud your message. Could you please tweet it to Trump who seems hell bent on dividing the country.

Save    
Thank you for reporting this comment. Undo
queenmargo

We'd all do well to remember that we should stand together and not appear torn and disorganized in the eyes of our adversaries. If the world balance of power is upset the losing side LOSES EVERYTHING. Forget nest eggs and pension checks. Think about that.

CHINA has a plan.

The left hate Trump more than realizing CHINA's plan.

3 Likes Save    
Thank you for reporting this comment. Undo
Ann

"Don't count your chickens."

No chickens being counted:) It's just my bet. Do you think we won't get to Dow 29,000 again in 2020?

Save    
Thank you for reporting this comment. Undo
olliesmom

I bet too, Ann!

1 Like Save    
Thank you for reporting this comment. Undo
queenmargo

I think perhaps it might be the Globalists that are hell bent on dividing America.

2 Likes Save    
Thank you for reporting this comment. Undo
nancy_in_venice_ca Sunset 24 z10

Speaking of causing divisions, here he is at work once again:


President Donald Trump’s all-out push to advance unproven coronavirus treatments is deepening a divide between the White House and career health officials, who are being pulled away from other potential projects to address the president’s hunch that decades-old malaria medicines can be coronavirus cures.

The White House directed health officials to set up a project to track if the antimalarial drugs chloroquine and hydroxychloroquine show promise — a days-long effort that distracted from urgent tasks like trials of other medicines thought to have more potential against the virus. [ . . . ]

“Everyone is getting ahead of their skis here,” said one senior Health and Human Services official involved in drug policy. “All this buzz is confusing the American public, it's confusing doctors. There’s a ton of people involved in front-line response in the government … who are getting pulled into meetings to discuss this when the data doesn’t support it.” [ . . . ]

Now, according to Agus and HHS officials, the White House has pulled multiple health agencies — including the Food and Drug Administration, the National Institutes of Health and the Centers for Medicare and Medicaid Services — into a project to develop a database tracking the drugs’ use against the coronavirus, despite scant evidence that they are effective.

.

https://www.politico.com/news/2020/03/27/trump-malaria-coronavirus-152498


Save    
Thank you for reporting this comment. Undo
arthurm2015(Micro-Climate, Zone 10b Sydney, Australia)

Dividing America! Lol

Been there twice on Hols

Did the grand tour of England, Ireland And Scotland and the bus load was mostly Americans, similar with a one week tour of Switzerland.

Never discussed Politics, never had a problem.

Similar with my Daughter who went there to give a talk when a medico became ill. Never had a problem.


You cannot have it both ways, You send us all this good stuff (culture and goodies) and we even invest our Moular there and we are not allowed to comment.


As for your Hero, on day 14 or 16 of time in the job he hung up on the then Australian Prime Minister and then did a bit of international diplomacy via tweet "Dumb Deal". Nuff said.

3 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

If I were to make a bet, my bet would be that we'll hit 29,000 again in 2020.

You're a true gambler Ann. If it even reaches 25,000 it'll most likely be due to corporations using these emergency funds to buy back their stocks, again. Wash, rinse, repeat, add more soap for another bubble.

3 Likes Save    
Thank you for reporting this comment. Undo
Cindy Outter

vgkg,

How did you burn through your 401k? Do not answer this question If you don't feel comfortable to share.

During my 'Spring Cleaning' I cashed out 1/3 of the equity holding to consolidate my accounts at market high (Notice, Dow is not equivalent to Stock market). When my investment advisor urged me to put the money back to the market, I told him to wait. Now he thinks I am a genius.

Save    
Thank you for reporting this comment. Undo
Ann

Burn through caught my attention too. The basic principal of a 401k or IRA is to use it throughout all retirement years. With that in mind, the RMD calculations that require one to take a certain amount out of an IRA/401k, beginning no later than age 72, use actuarial tables to predict one's predicted life span so the money will be likely to last that length of time, taken in equal increments over the years. While not everyone does that, it is the concept and idea behind contributing to a 401k throughout working years.

1 Like Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Cindy, it was a slow burn. Started to withdraw monthly amounts when I retired to suppliment my pension, after serveral years I signed up for SS once the 401 was exhausted.

1 Like Save    
Thank you for reporting this comment. Undo
Nana H

vgkg, look at it this way , you don't have to fuss about the markets. One less thing~!

3 Likes Save    
Thank you for reporting this comment. Undo
Ann

"You're a true gambler Ann."

Most definitely not. I'm a careful investor who uses only large mutual funds containing different percentages of stocks/bonds/stable value funds and ends up with a slightly more conservative portfolio than is recommended for someone my age. In fact, there is so little gambler in me that, at the very beginning of retirement, I got myself way underinvested with concern about preserving all retirement funds just in case investments went way down someday. Over the course of several years, I saw the carefully executed retirement plan we had alway stuck to would play out as planned (or better) and it seemed illogical to hold too much money in simple savings type investments. Now, I've modified that to a balanced situation where it can comfortably be left for the rest of my life - lots of safety yet some sensible growth opportunity.

No gambler in me but a bit of illogical caution at times. Frugality/saving is a trait I can overdo at times. After some very, very poor years in my life, I became an expert at stretching a dollar and planning. Sometimes that mindset pushes me too far toward cautiousness.

But, at the same time, I'm an optimist. I do not think coronavirus will last for years and I do think America will come roaring back when the virus lessens. Our underlying economy was very strong and all economic numbers were doing well and on the right trajectory. This virus is most certainly causing a large worldwide economic setback, but it's the virus causing the setback, not the underlying economy (in the U.S.). Thus, I am confident, when the virus settles down, the economy will come back rather nicely. I do guess we'll see Dow 29,000 again this year.

1 Like Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

My "gambler" comment was directed at what you repeated in your last sentence above, a return to a 29,000 Dow this year. Even if the virus goes away it's going to leave behind bleeding wounds that will be hard to heal and take alot of time. Plus I know that people like to ignor the ever increasing fed debt piling up but ignoring it won't make it go away. It's going to be a bail of hay on the camel's back.

Save    
Thank you for reporting this comment. Undo
Ann

Vgkg, that makes sense. We are using some IRA funds prior to the age of 72 (when we will be required to use those funds) in order to delay taking SS until age 70. But we each had a 401k we had diligently contributed to, so we're only lessening one of those two accounts.

But delaying SS, if possible, makes tremendous sense IMO.

1 Like Save    
Thank you for reporting this comment. Undo
Ann

Vgkg, we'll see. It's just my prediction/guess that we'll return to 29,000 this year. Or, you might be right (if you're guessing we won't).

I'm also guessing Trump will win the election. I could end up right or wrong about that too.

I'll remember to notice if either or both of my predictions ends up right or wrong as the year progresses.

2 Likes Save    
Thank you for reporting this comment. Undo
vgkg (Va Z-7)

Yeah Nana, I can sleep easy at night on the economic front, no worries gambling on winning at the casino now. trump on the other hand is a distrubance in the force.

Save    
Browse Gardening and Landscaping Stories on Houzz See all Stories
Features 85 Years Ago, These Still-Standing Model Homes Saw the Future
The 5 remaining houses from the 1933 Chicago World’s Fair are still teaching us about innovative design
Full Story
Central Plains Native Plants How to Get Your Prairie On
Have a field day with your landscape, even if you've got just a few modern containers on a paved path
Full Story
Kitchen Countertops 12 Items Worth a Spot on Your Kitchen Counter
Keep these useful tools and accessories out in the open to maintain high function without spoiling the view
Full Story