The rout continues into this week it looks like. Dow futures are down 350 points. Treasury yields tanking as well. The Nasdaq crossed into correction territory. If the market has a rough week, it could be a boon to President Trump.
When it looked like Trump couldn’t lose, the market was up, as the markets prefer Trump. Now that Harris has tightened the race, the markets are dropping. Some predicted a crash in September, but it maybe much earlier.
It’s almost like you have never seen market corrections before. The market was in a huge bubble and investors always take profits at the top. It’s the cycle of things. Housing is next up on the Summer Jam screen.
agree wrt the stock mkt. housing mkts rarely "correct". They may flatten for a time, but they almost never crash. Obv, they are a very diff type of asset. I suspect prices will tick up w/ mortgage rates falling.
Oh good grief. The 52 week low on the Dow is 32.3 and when it drops below 40 all the Trumpers think it’s because there’s been a 3-4 point move in polling. And the 10-year all of a sudden below 3.8% is a bad thing? What happened to all the screaming about high interest rates? Some people on here could turn their post-coffee morning dump into a partisan event (oh no honey, I took a blue sh*t today. Better buy some more ammo.”)
Crashing from yet another all time high. Meaning: went down some. It ain’t a continuous parabola mama!
That’s not why the markets have pulled back. It’s mostly about the bad UE numbers from Thursday. Mix that with some companies cutting outlooks and here ya go. Pick a few companies you missed out on and put some buy orders in. They wanted rate cuts but now fear has driven the portion of the market that was overbought down fast.
Maybe. The mkt responds to news.* It is very possible that the mkt expected "worse" job numbers & it was bad news that they were better than the mkt expected w.r.t. expectations for rate cuts. We don't know what the mkt expected. We can cite proxies, but we don't know. I was surprised that the mtk did not like the jobs report & maybe it is b/c of what i note above. * news is not the gross #. News = [expected # - actual #]
I edited my original post while you were responding I think. It was also coupled with some bad quarterly reports with low outlooks some things being over bought. Personally I’m looking at nibbling on some NVIDIA and adding to some other positions.
I think the soft jobs report coupled with a few other softer metrics triggered recession fears again despite an almost 3% gdp growth in Q2. So people grabbed profits and traded the market down on Thursday and Friday.
Unemployment was the same in August 23 as it was in March 24-3.8% It’s gone up the past 4 months, not the past year. . And people were screaming for it to go up so the Fed would lower rates. Well, here we are.
Check overnight the Asian markets, and the NASDAQ. No one is telling what to do. I simply stated that Buffet is selling off some stocks. I wonder how much of a correction we're getting. Tech stocks are going down a bit. I have stocks... so I hope it's a small and short correction. Believe me, I don't care who the freak is in the WH... this is something that nobody really wants.
