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MSNBC Reporting - REPUBs Take The House!!!
Go turn on your TV! MSNBC is reporting Dem - 213 Repub - 222 Now if we take the senate I will give this election an A- And it's entirely possible for us to take the senate! And kari lake is making an amazing comeback...she is only down 0.2% now.www.usmessageboard.com
The market was reacting to the possibility that the fed reserve will slow down raising rates with the slowing of the economy.tocks mounted their biggest rally since 2020 after October’s reading of consumer prices raised investor hopes that inflation has peaked.
The Dow Jones Industrial Average jumped 1,201.43 points, or 3.7%, to 33,715.37 for its biggest one-day gain since stocks were emerging from the depths of the pandemic bear market. The S&P 500 jumped 5.54% to 3,956.37 in its biggest rally since April 2020. The Nasdaq Composite surged 7.35%, its best since March 2020, closing at 11,114.15.
October’s consumer price index rose just 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January and a slowdown from the 8.2% annual pace in the prior month. Economists were expecting increases of 0.6% and 7.9%, according to Dow Jones. Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, also less than expected.
That's what I said! Just a different way.
The market was reacting to the possibility that the fed reserve will slow down raising rates with the slowing of the economy.
Actually - and I say this as a Dem - there's a kernel of truth to this. Most equities houses want gridlock. The like it when neither party can advance an agenda. They like - okay, tolerate is more like it - both parties for different reasons. They like the GOP because they tend to be anti-regulation and pro-tax cuts. But they also like the focus on jobs that most democratic presidents tend to have and these days, Dems almost never have the votes to pass a tax hike anyway so they don't mind Ds in power so much.
But the real reason the market jumped was the (misleading) idea that inflation is coming down. It's not coming down. The markets grabbed a momentary leveling off in inflation YoY because the assumption is that J Powell is too much of a chickenshit to go forward with continued interest rate hikes, particularly in the face of so much pressure not to induce a recession.
Thanks!
You're welcome. I am blatantly partisan left, and we probably won't agree on a lot else, but I try to call balls and strikes, and I'm seeing way too much celebratory bullshit from the left over one day of S&P surge. It's nuts.
I've said it over and over again that I think the S&P will eventually go down to below 3500, and I wouldn't be surprised if it goes down below 3000. I'm surprised it hasn't already, but that's because there's still $1.5 trillion in excess savings from the pandemic stimuluses and zooming to work.
The people who have to work for $15-25/hour are getting murdered. They are not the ones causing inflation. The ones causing inflation - not deliberately of course - are the 6-figure households who received stimuluses, zoomed to work, didn't spend shit during the pandemic, and finally went out and started revenge spending.
But their revenge spending didn't hurt them initially; it hurt the Amazon and Uber drivers, the grocery store and fast food workers - and now it's killing them. And so to avoid a massive political problem of social unrest, the Fed and Treasury realized they had to step in and start raising interest rates, and kick some of these high-salary tech/fin/whatever employees into the unemployment lines because we were starting to see wage-spiral inflation, which can lead to permanent sticky inflation if we're not careful.
8% isn't "light inflation", schmuck.tocks mounted their biggest rally since 2020 after October’s reading of consumer prices raised investor hopes that inflation has peaked.
The Dow Jones Industrial Average jumped 1,201.43 points, or 3.7%, to 33,715.37 for its biggest one-day gain since stocks were emerging from the depths of the pandemic bear market. The S&P 500 jumped 5.54% to 3,956.37 in its biggest rally since April 2020. The Nasdaq Composite surged 7.35%, its best since March 2020, closing at 11,114.15.
October’s consumer price index rose just 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January and a slowdown from the 8.2% annual pace in the prior month. Economists were expecting increases of 0.6% and 7.9%, according to Dow Jones. Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, also less than expected.
Rockin' good news.tocks mounted their biggest rally since 2020 after October’s reading of consumer prices raised investor hopes that inflation has peaked.
The Dow Jones Industrial Average jumped 1,201.43 points, or 3.7%, to 33,715.37 for its biggest one-day gain since stocks were emerging from the depths of the pandemic bear market. The S&P 500 jumped 5.54% to 3,956.37 in its biggest rally since April 2020. The Nasdaq Composite surged 7.35%, its best since March 2020, closing at 11,114.15.
October’s consumer price index rose just 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January and a slowdown from the 8.2% annual pace in the prior month. Economists were expecting increases of 0.6% and 7.9%, according to Dow Jones. Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, also less than expected.
If I remember correctly that report didn not include gas and food prices which makes a big difference.
This would be ideal.joe biden is done
Inflation was long overdue, along with all the other problems we are facing it's minor, and it's already easing up it's grip on US. The real concern would be a world-wide recession.tocks mounted their biggest rally since 2020 after October’s reading of consumer prices raised investor hopes that inflation has peaked.
The Dow Jones Industrial Average jumped 1,201.43 points, or 3.7%, to 33,715.37 for its biggest one-day gain since stocks were emerging from the depths of the pandemic bear market. The S&P 500 jumped 5.54% to 3,956.37 in its biggest rally since April 2020. The Nasdaq Composite surged 7.35%, its best since March 2020, closing at 11,114.15.
October’s consumer price index rose just 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January and a slowdown from the 8.2% annual pace in the prior month. Economists were expecting increases of 0.6% and 7.9%, according to Dow Jones. Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, also less than expected.
