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Another nice rally 8/7/24
Posted on 8/7/24 at 8:55 am
Posted on 8/7/24 at 8:55 am
Markets moving up today
S&P and Nasdaq each up over 1.5% this morning.
Rebound is bolstered by some recent reports that reveal pockets of strength in the service sector of the economy.
While positive, they still don’t erase the data posted last week which show that the economy isn’t humming along evenly.
With a big election looming, the spin is on so volatility is to be expected. Can’t blame investors for wanting to sit things out until the political smoke clears
S&P and Nasdaq each up over 1.5% this morning.
Rebound is bolstered by some recent reports that reveal pockets of strength in the service sector of the economy.
While positive, they still don’t erase the data posted last week which show that the economy isn’t humming along evenly.
With a big election looming, the spin is on so volatility is to be expected. Can’t blame investors for wanting to sit things out until the political smoke clears
This post was edited on 8/7/24 at 8:56 am
8
Posted on 8/7/24 at 8:57 am to SlidellCajun
quote:
Can’t blame investors for wanting to sit things out until the political smoke clears
Yeah but that’s because most “investors” are dumb and it’s proven time and time again. Investing in any significant way because of the election is an objectively bad strategy.
Posted on 8/7/24 at 9:25 am to SlidellCajun
This particular run (really going back to the COVID recovery) has been amazingly immune from any significant downward emotional pressure.
There are dips. Sometimes for as much as a couple of weeks, then the bulls start running again.
It is, frankly, incredible. At some point there has to be a correction, but who knows with the way this market is relatively immune to bad news.
There are dips. Sometimes for as much as a couple of weeks, then the bulls start running again.
It is, frankly, incredible. At some point there has to be a correction, but who knows with the way this market is relatively immune to bad news.
Posted on 8/7/24 at 9:27 am to slackster
quote:
Investing in any significant way because of the election is an objectively bad strategy.
Probably
Not the course I take but some investors might sit on the sidelines.
Nonetheless, the market looks like it’s behaving in healthy fashion today after Monday’s sell off.
Recessionary fears appear to be calmed somewhat
Posted on 8/7/24 at 10:20 am to SlidellCajun
Posted on 8/7/24 at 10:21 am to SlidellCajun
I chipped in for 3 VOO’s Monday. I’m not OT rich.
Posted on 8/7/24 at 12:35 pm to SlidellCajun
Would not be shocked if today ended up in the red
Posted on 8/7/24 at 1:04 pm to SlidellCajun
S&P 500 in the red for the day now
Posted on 8/7/24 at 1:12 pm to slackster
.....and it's gone!
Posted on 8/7/24 at 1:14 pm to AllDayEveryDay
Exactly.
Posted on 8/7/24 at 1:21 pm to HarveyBanger
good call
Posted on 8/7/24 at 1:29 pm to SlidellCajun
Every election going back decade politards act like political elections should impact how much people participate in the market. It’s pretty silly.
Posted on 8/7/24 at 1:42 pm to Ace Midnight
quote:
really going back to the COVID recovery
When did the COVID recovery start because for me things were back to normal by mid 2021 but the S&P tanked for most of 2022.
Posted on 8/7/24 at 1:44 pm to thunderbird1100
quote:
S&P 500 in the red for the day now
S&P currently down .42%.
Bard currently up 1.1%
Posted on 8/7/24 at 1:56 pm to Bard
Posted on 8/7/24 at 2:48 pm to PetroBabich
quote:
When did the COVID recovery start because for me things were back to normal by mid 2021 but the S&P tanked for most of 2022.
Sort of depends if you are just focused on the S&P 500, but realistically, it was mid 2022. All the up the mountain/down the mountain from April 2020 until, say, June 2022 was volatility based around the government response and the stop/start efforts to return to normalcy. Even the double dip in September of 2022 stayed around/just below 3600 - that's still around 7 to 8% above what it was in January 2020.
Posted on 8/7/24 at 3:09 pm to HarveyBanger
quote:
Would not be shocked if today ended up in the red
Freaking Nostradamus.
Posted on 8/7/24 at 3:14 pm to HarveyBanger
quote:
Would not be shocked if today ended up in the red
Ding ding ding!
You called it
Down on all 3 indices
Posted on 8/7/24 at 3:15 pm to Art Blakey
How many headlines about an "emergency Fed meeting" tomorrow?
Posted on 8/7/24 at 5:19 pm to SlidellCajun
Thanks for jinxing all of markets today...
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