The show must go on. I have not yet begun to destroy this country.
Posted on 11/29/2021 5:47:26 AM PST by logi_cal869
"Dow's worst day of the year"
U.S. stocks dropped sharply on Friday as a new Covid variant found in South Africa triggered a global shift away from risk assets.
The Dow Jones Industrial Average dropped 905.04 points, or 2.53%, for its worst day of the year, closing at 34,899.34. The S&P 500 lost 2.27% to close at 4,594.62, while the Nasdaq Composite slipped 2.23% to finish at 15,491.66. The Dow was down more than 1,000 points at session lows.
All the hype over Nu/Xi/Omicron and hysterical headlines of travel bans/lockdowns with later - suppressed - facts about its mild illness...I can't help but wonder if this holiday 'gift' didn't enrich some key people (its sole intent).
Ya know???
We'll just have to see how this week plays out.
This has more to do with oil supplies than Omicron.
Follow the money.
The Deep State is pushing this hard even though it’s mild sypmtoms at best.
A whole weekend to ruminate over this and it is posted on Monday morning three days later?
BTW, futures and airlines are up this morning.
Hair on fire much?
That was my thought, why post this 3 days later.
Funny how all drops used to be linked to President Trump. Now, ‘look what Covid did!’
Friday was a good day to have some cash available to buy up bargain stocks.
Funny how all drops used to be linked to President Trump.
************
Yep targets change with events of the day. It will be
interesting to see what the next few are. They can’t
hold Trump to the fire but only for so long.
But Oil tumbled 15% on Friday, ending below $70/bbl.
The reports on the 28% drop in spending came out AFTER.
I think it has more to do with inflationary expectations.
When nominal interest rates finally start rising we will see a sudden flow from stocks to interest bearing investments. Stock prices are overdue for a deep correction.
We are all waiting for that day to come - we just don’t know when to pull the trigger and sell.
Friday was a gift to investors sitting on cash. I purchased several stocks including oil and natural gas companies that were hit badly.
This morning they are back up. Good move on my part.
See #11.
Maybe you aren’t aware of what really happened on 9/11, so I’ll give you a pass.
900 point drop has nothing to do with the dying Wuhan Flu virus. It has everything to do with Biden’s horrific management of the economy and his trillion dollar waste package.
Sleepy Joe has done it again.
Yes, that’s what it looked like, but nothing changed with oil all week. The only thing which changed was Nu/Xi/Omicron hysteria and consequent market dive.
“Drug manufacturers rose, with shares of Moderna MRNA, which makes one of the most widely administered COVID vaccines, skyrocketing more than 20%. Pfizer shares PFE advanced by 6%.
However, those gains didn’t offer much of a lift to pharmaceutical-related funds, including Invesco Dynamic Pharmaceuticals ETF PJP, which ended down 1.6%; iShares U.S. Pharmaceuticals ETF IHE, up just 0.2% on the day; and SPDR S&P Pharmaceuticals ETF XPH, down 1.9%.
Travel-related stocks
The popular airline-related exchanged-traded fund U.S. Global JETS, which has come to serve as a good indicator of the market’s view on the progress out of pandemic-related restrictions and toward economic recovery, closed down 7.2%.
Aircraft maker Boeing Co. BA retreated by 5%, and Southwest Airlines LUV stock was more than 4% lower. Shares of American Airlines AAL slumped more steeply, losing 8.8%. Meanwhile, Expedia shares EXPE were down9.5% and United Airlines UAL traded off almost 10%.
A separate exchange-traded fund that is sometimes used to represent optimism about changes in activity tied to COVID restrictions, the ETFMG Travel Tech ETF AWAY, was down 6.4% on Friday.”
Somebody(s) made BILLIONS on Friday - shorting travel/aerospace, betting on pharma - all due to the Omicron hype.
Oil is what they want people to believe.
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