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Dow surges 459 points, Nasdaq clinches fresh record close, despite concerns of economic toll of unfettered U.S. virus cases
marketwatch.com ^ | July 6, 2020 | Joy Wiltermuth and Sunny Oh

Posted on 07/06/2020 2:44:19 PM PDT by John W

U.S. stocks finished sharply higher Monday, with the Nasdaq scoring a record close, as Wall Street followed surging Chinese equity benchmarks to their best levels in at least two years.

Monday’s upbeat market action contrasted with a further spike in U.S. coronavirus cases and a resurgence of business restrictions by state and local authorities struggling to contain the viral outbreak.

U.S. stocks ended up sharply Monday, led by shares of financial companies and record-setting technology shares as Wall Street followed Chinese equity markets higher.

But Monday’s gains also came with growing doubts about the ability of the U.S. to contain the viral outbreak and its economic fallout, after COVID-19 cases climbed across the U.S. over the Fourth of July weekend.

(Excerpt) Read more at apple.news ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: covid19stockmarket; dja; stockmarket
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To: bray

“If Biden wins you will get your wish.”


Where did I say that I wished for a market crash?

As I indicated earlier, I want honest money, honest markets, where balance sheets and cash flows matter.

The entire world is awash in fraudulent fiat money, since the early 1970s, and awash in debt which will never and can never be repaid.

The fed balance sheet has increased by several thousands of billions of FRNs in the past few months. This is inflationary and is driving up the stock prices, as investment firms, and the world, for that matter, front-run the Fed.


21 posted on 07/06/2020 3:58:58 PM PDT by bkopto
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To: outofsalt

Without the petro-plan we would be above Wiemar levels 12 years ago which explains why some foreign entities are trying to break that scheme up. Right now it’s curtailing inflation as well as banks limiting monetary volatility.


22 posted on 07/06/2020 4:01:17 PM PDT by rollo tomasi
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To: bkopto

Fundamentals/savings are long gone; embrace modern monetary theory and practices because that is where we are heading to (And probably ending at).


23 posted on 07/06/2020 4:03:50 PM PDT by rollo tomasi
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To: John W

“Dow surges 459 points, Nasdaq clinches fresh record close, despite concerns of economic toll of unfettered U.S. virus cases”

Need a more accurate headline

Commie apes at Marketwatch upset that market surges despite Kungflu propaganda


24 posted on 07/06/2020 4:07:55 PM PDT by sergeantdave (Teach a man to fish and he'll steal your gear and sell it)
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To: John W

[[[[But Monday’s gains also came with growing doubts about the ability of the U.S. to contain the viral outbreak and its economic fallout, after COVID-19 cases climbed across the U.S. over the Fourth of July weekend.]]]]

The obligatory piss in the corn flakes by the pressholes.


25 posted on 07/06/2020 4:11:40 PM PDT by headstamp 2 (There's a stairway to heaven, but there's also a highway to hell.)
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To: bkopto

“I would prefer an honest market.”

The market has always been based on factors that the average person (I include myself sometimes!) just doesn’t understand.

But someone might help me with something that has bothered me for a long time. Back when I was in college (when they actually taught something) I was taught that when large amounts of money being pumped into an economy causes inflation. The perfect example was the Weimer Republic in pre-Hitler Germany. They tried to get out of debt by running the printing press overtime pumping out money. But in recent years there has been little inflation even though the Fed has been doing much the same thing. I know that someone will tell me that this is a dumb question, but could anyone help me here?


26 posted on 07/06/2020 4:14:39 PM PDT by gbscott
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To: headstamp 2
"The obligatory piss in the corn flakes by the pressholes."

No, it's a clarion call for profiteering and then back up again (As is the overall tendency since the beginning). Pick your deals/trend "du jour".
27 posted on 07/06/2020 4:19:27 PM PDT by rollo tomasi
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To: gbscott
But in recent years there has been little inflation even though the Fed has been doing much the same thing.

The problem with the inflation number is that the government calculates it, and its calculations are rigged in its favor (so it doesn't have to give COLAs to social security recipients).

For an honest accounting of inflation, for real world items that you and I buy, visit:

https://chapwoodindex.com

28 posted on 07/06/2020 4:20:23 PM PDT by bkopto
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To: John W

“Why won’t they listen to us!!!” It’s killing them that we see right through the Faudci lies and don’t give a damn what the media says.


29 posted on 07/06/2020 4:23:47 PM PDT by jmaroneps37 (Conservatism is truth. Liberalism is lies)
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To: gbscott

But in recent years there has been little inflation


On what basis do you say that?

We have tremendous inflation. There are exceptions to inflation don’t focus on them.

Why is the stock market up? more money chasing few stocks. There is no discussion of those companies being profitable only perception.

if you want to understand the economic situation read The Vampire economy, easy read and downloadable here:

https://mises.org/library/vampire-economy


30 posted on 07/06/2020 4:24:00 PM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: John W

Only the insane and the Fed are buying this market.

Only the insane and the Fed are buying this market.

It was worth repeating.

The fundamentals say at least a 30% drop to match earnings.


31 posted on 07/06/2020 4:26:49 PM PDT by Mariner (War Criminal #18)
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To: gbscott

If money is not released into the “wild”/”the market”, inflation can be curtailed (Through quietly/strategically “hoarding”). Wiemar had a lot of variables but some (Emphasize some) of the variables could exude upon other countries (Even with viable central banks/bonds/commodities).


32 posted on 07/06/2020 4:29:15 PM PDT by rollo tomasi
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To: rollo tomasi

I agree with you.


33 posted on 07/06/2020 4:38:19 PM PDT by bkopto
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To: bkopto

I made money today.....


34 posted on 07/06/2020 4:39:27 PM PDT by Osage Orange (qcsi)
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To: Vermont Lt
Except that earnings were great for the big tech companies in Q 1.
Microsoft, Apple, Google Amazon etc all had stellar earnings in Q1 despite coronavirus. Amazon had their best Q 1 ever.
The Nasdaq is driven by big tech earnings.
Plus 4.8 million new jobs created in June making 7.5 milliin jobs created in May and June, all new records. Plus the great ISM figures that just came out. The economy is making a very fast comeback.
35 posted on 07/06/2020 4:41:52 PM PDT by SmokingJoe
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To: bkopto
You have to do your homework...and be nimble.

I trade every day....I have some holdings that are long term.

Friend of mine not long ago said ...he's never made faster $$$

If you know how to trade...you can make money.

36 posted on 07/06/2020 4:43:50 PM PDT by Osage Orange (qcsi)
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To: PeterPrinciple
We have tremendous inflation.

We have tremendous inflation in what exactly?
Where is the inflation at?

37 posted on 07/06/2020 4:47:36 PM PDT by SmokingJoe
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To: DoughtyOne

We are supposednbelieve the polls which say Biden is leading.

Biden is the guy who promises to:

Increase taxes

Increase regulations

Increase capital gains taxes

Yet we are supposed to believe the market is bidding up stocks to record levels because they see this clown being elected?


38 posted on 07/06/2020 4:57:25 PM PDT by Red in Blue PA (You can vote your way into socialism, but you have to shoot your way out.)
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To: SmokingJoe

The Chapwood index shows about a 10% annual inflation rate over the past 5 years. Whether this figure qualifies as “tremendous” is up for debate.

https://chapwoodindex.com/


39 posted on 07/06/2020 4:57:40 PM PDT by bkopto
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To: bkopto
Who the heck is Chopwood index?
Is that the Antifa/BLM/witch doctor's index?

These are the real inflation indexes from the federal government.

Two different price indexes are popular for measuring inflation: the consumer price index (CPI) from the Bureau of Labor Statistics and the personal consumption expenditures price index (PCE) from the Bureau of Economic Analysis.

The annual inflation rate in the US eased to 0.1% in May of 2020 from 0.3% in April.
https://tradingeconomics.com/united-states/inflation-cpi

Inflation is virtually non stop existent right now.

40 posted on 07/06/2020 5:08:18 PM PDT by SmokingJoe
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