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Stock market cant stop climbing, DOW has biggest day in history.

Posted on 3/11/21 at 3:30 pm
Posted by agregime1
Member since Mar 2015
1265 posts
Posted on 3/11/21 at 3:30 pm
quote:

The markets are closed.

? S&P 500 ? 1.04%
? Nasdaq ? 2.52%
? Russell 2K ? 2.31%
? Dow Jones ? 0.58%


quote:

U.S. stocks climbed to record highs Thursday as the comeback in tech shares resumed, while the signing of additional fiscal stimulus gave sentiment a further boost.


quote:

DOW JONES UNOFFICIALLY CLOSES UP 207.98 POINTS, OR 0.64%, AT 32,505.00

NASDAQ UNOFFICIALLY CLOSES UP 321.24 POINTS, OR 2.46%, AT 13,390.07

S&P 500 UNOFFICIALLY CLOSES UP 41.80 POINTS, OR 1.07%, AT 3,940.61


quote:

Wall Street was on a tear again Thursday, with tech stocks surging and both the Dow (INDU) and the S&P 500 (SPX) notching fresh record highs.

The Dow finished up 0.6%, or 189 points, while the S&P closed 1% higher.
The tech-heavy Nasdaq Composite (COMP) scored the biggest gains of the day, rising 2.5%.
Spring has sprung and equity investors are in the spirit: They're feeling optimistic about the $1.9 trillion stimulus package Congress passed this week and signed into law by President Joe Biden earlier in the day, as well as the eventual reopening of the economy.
"Trends related to Covid continue to show improvement on both a national and international basis, as vaccine doses continue to pile up across the country," said Bespoke Investment's Paul Hickey.
Bond yields, which climbed recently on worries that an inflation spike would force the Federal Reserve to raise rates sooner rather than later, have fallen back again. Those fears were calmed in part by Wednesday's inflation report, which was in line with economists' expectations.


quote:

Some are still keen to keep buying equities, especially those sensitive to the economy, ahead of the arrival of stimulus checks," Razaqzada added, "while others are happy to book profit after a remarkable rally over the past year or so."
Thursday's economic data also helped shore up optimism: Weekly first-time claims for unemployment benefits came in lower than economists had predicted, and they also fell from the prior week. It might be a sign that the US jobs recovery is finally gathering steam.
Even so, with 712,000 seasonally adjusted initial claims filed last week, the number of workers requiring benefits is still higher than during the peak of the Great Recession.


LINK
Posted by HempHead
Big Sky Country
Member since Mar 2011
56519 posts
Posted on 3/11/21 at 3:31 pm to
funny money machine goes brrrrt
Posted by BlackAdam
Member since Jan 2016
7034 posts
Posted on 3/11/21 at 3:31 pm to
How can it stop climbing when the government is just printing money.
Posted by MorbidTheClown
Baton Rouge
Member since Jan 2015
73532 posts
Posted on 3/11/21 at 3:31 pm to
good! maybe i'll get back some of the $60k i lost over the last week.
Posted by S
RIP Wayde
Member since Jan 2007
168628 posts
Posted on 3/11/21 at 3:32 pm to
Joseph Robinette Biden
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
135726 posts
Posted on 3/11/21 at 3:33 pm to
[quote]funny money machine goes brrrrt
Posted by Hogwarts
Arkansas, USA
Member since Sep 2015
18300 posts
Posted on 3/11/21 at 3:33 pm to
Money printer going brrrtttttt
Posted by The Boat
Member since Oct 2008
175639 posts
Posted on 3/11/21 at 3:35 pm to
quote:

DOW has biggest day in history.

Pretty sure 0.58% isn't the biggest day in history.
Posted by FLTech
Member since Sep 2017
24783 posts
Posted on 3/11/21 at 3:35 pm to
I am making really good coins in the Crypto market
Posted by OldmanBeasley
Charlotte
Member since Jun 2014
10907 posts
Posted on 3/11/21 at 3:36 pm to
Posted by HempHead
Big Sky Country
Member since Mar 2011
56519 posts
Posted on 3/11/21 at 3:37 pm to
quote:

Money printer going brrrtttttt



Don't get me wrong - I am not completely upset. I'm a pretty standard investor and I am doing okay.

The real problem is that this reveals that the market is not completely subject to actual economic conditions, or at least, can be pumped using monetary stimulus. Who cares if the S&P goes up 17& YTY if we are looking at a 50% increase in M1 supply (completely made up numbers, just a hypo)
Posted by LSURussian
Member since Feb 2005
133508 posts
Posted on 3/11/21 at 3:37 pm to
quote:

DOW has biggest day in history.


Posted by Notnac
Vidalia
Member since Nov 2020
881 posts
Posted on 3/11/21 at 3:38 pm to
quote:

Joseph Robinette Biden


That fricker doesn't even know where he is.
Posted by Rebel
Graceland
Member since Jan 2005
141316 posts
Posted on 3/11/21 at 3:39 pm to
Inserting a few trillion into the economy will do that.
Posted by X123F45
Member since Apr 2015
29446 posts
Posted on 3/11/21 at 3:41 pm to
I finished more than 3x that day trading when on the shitter.
Posted by arcalades
USA
Member since Feb 2014
19276 posts
Posted on 3/11/21 at 3:52 pm to
quote:

DOW has biggest day in history.
quote:

DOW JONES UNOFFICIALLY CLOSES UP 207.98 POINTS
Posted by Duke
Dillon, CO
Member since Jan 2008
36439 posts
Posted on 3/11/21 at 3:56 pm to
quote:

The real problem is that this reveals that the market is not completely subject to actual economic conditions


Always has been this way.
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 3/11/21 at 4:03 pm to
(no message)
This post was edited on 3/11/21 at 4:04 pm
Posted by RT1941
Member since May 2007
31654 posts
Posted on 3/11/21 at 4:06 pm to
quote:

good! maybe i'll get back some of the $60k i lost over the last week.


AMEN! Tech stocks got pummeled the last week just about the fricking time my accountant calls with my '20 taxes. Hopefully this tech uptick can help offset the capital gains taxes I have to pay in 6 weeks.
Posted by jchamil
Member since Nov 2009
18798 posts
Posted on 3/11/21 at 4:13 pm to
Wall Street loves them some handouts
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