Posted on 08/28/2020 9:25:57 AM PDT by knighthawk
Stocks rallied to record highs Friday morning as the race for the White House officially got underway following President Trump's acceptance of the GOP nomination.
The Dow Jones Industrial Average gained 92 points, or 0.32%, in the opening minutes of trading and topped its 2019 closing value of 28,538.44.
Meanwhile, the S&P 500 and the Nasdaq Composite were higher by 0.28% and 0.56%, respectively, as both looked to extend their longest streak of record closes in 2020. The S&P has closed at an all-time high in four consecutive sessions while the Nasdaq has settled at a new peak for five straight trading days.
(Excerpt) Read more at foxbusiness.com ...
You can bet the stock market is reacting positively to the prospect of a Biden administration and its socialism, higher taxes, etc.....
My financial advisor: The best indicator that an incumbent President will be re-elected is a rise in the stock market during the 3 months before the election.
Well dang nothing is working out for the democrats.
I’m an Advisor.
This year certainly breaks the mold...
But then again, the basic fundamentals of investing held up even now. A properly diversified portfolio is in good shape despite the enormous chaos of this year. For the fools that have tried market timing all of this, the gleeful posts of being out in Spring....see crickets now about how they then got into the bottom and are now up 40-50%. No, they are still in cash...wondering what to do next...
What has been incredible, is seeing the Dot Cot bubble 2.0 grow with such enthusiasm despite the risk being obvious, the historical lesson still clear and memorable.
I’ve suspected that our October surprise might just be a massive sell off of these overpriced tech/growth stocks.
Last election in 16, money came into the markets a month before the election. Wall Street has plenty of cash waiting to go to work. Question is, does that money chase the over valued, or will it dig into value stocks that have been under-performing for 3-5 years?
OK, I’m confused...Didn’t the DJIA hit 29,568.57 on 2/12/2020?
Yes...what...you expected a reporter to actually research facts?
.......didn’t that dips**t Slow Joe Biden say just the other day that, hey, c’mon man, this is Trump’s America...??!!
I’d like to see how the party of doom, gloom and victimhood can play this tune.... rising stock markets, lowering unemployment levels, all of it.... and we are supposed to put a far left-wing Harris - Biden (opps, sorry...) administration in office in November....? as we usta say back in Noo Yawk, ya godda be kiddin’ ...........
“I’ve suspected that our October surprise might just be a massive sell off of these overpriced tech/growth stocks.”
Are you putting your clients’ (or your) money on this prospect?
I think that the only surprise that could possibly throw the election away from Trump is massive voter fraud and that the Democrats are revved up to commit it.
Looks like people who bet with big money are betting that Trump will win.
Dec 31, 2019 close was 28,538. He was noting that it had gotten to that milepost with out noting that it had gone higher prior to the pandemics tumble. More impressive is that it has risen 10,000 points in 5 months.
Indeed the party of doom, gloom and victimhood can’t stand the fact that Trump is doing whats good for the people and country.
For them it’s the power of the party for total control they are a true mix of Marx,Linen and Stalin all in one bag.
Their motto keep them needing and we own them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.