Trump has DOW up over 24000

Critter7r said:

Thread title no longer applies ... :sigh:

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Yep, currently 23,500 and falling.

SP500 is a better measure anyway. DJIA is for amateurs.

This actually is not a bad thing; equities seemed a bit overheated for some time now, and most people do not rely on equities as a primary source of income or wealth. It's going to hurt speculators and the super-wealthy, but I suspect they'll get over it somehow.

Popping the equities (and cryptocurrency) bubbles is good in the long run, just not for the doofus who claims he single-handedly caused a run-up in the DJIA.

KLATTU said:

It's a record!
https://www.usatoday.com/story/mone...rejoice-dow-tops-24-000-first-time/908383001/

he Dow, which has jumped more than 300 points, notched a fresh milestone Thursday, topping 24,000 for the first time, adding to the sizable 2017 gains of 401(k) investors that have exposure to stocks in their retirement accounts.

Right after the start of trading today, the blue chip stock index ticked above the big number. At its high point Thursday, it was up as much as 387 points at a new intraday record of 24,327.82.

The Dow is on track for its best day of the year.

Optimism abounds apparently! Must be because of that anticipated cut in the Corporate tax rate. GOP finally got something right. Well maybe.-see how it plays out but I think that will stick

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Critter7r said:

Thread title no longer applies ... :sigh:

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Sure it does.... If Trump has the Dow up over 24,000 points then surely he is responsible for the fact its now in free fall. He and his minions chose to hook their wagon to this train, they can enjoy the ride..... and when the economy slips into recession in a couple of months, we can pin that one on Trump as well.

calamity said:

Live by the DOW, die by the Dow. I wonder if President Buffoon even understands economics.

BTW: we can cure those inflation fears by importing more....you know, workers.

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Odd thing, he has a degree in Economics from the Wharton School of Finance. Although its a BS degree.

If anyone has ever made a good living from BS, its Donald Trump.

upsideguy said:

Sure it does.... If Trump has the Dow up over 24,000 points then surely he is responsible for the fact its now in free fall. He and his minions chose to hook their wagon to this train, they can enjoy the ride..... and when the economy slips into recession in a couple of months, we can pin that one on Trump as well.

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Actually, he's responsible for neither. However, we can tag him as an uninformed, uninformable, megalomaniacal, hypocritical idiot for claiming he had anything to do with its rise, while Obama gets no credit whatsoever (despite being President during the longest peacetime expansion on record), and somehow he has nothing to do with its drop.

Visbek said:

Yep, currently 23,500 and falling.

SP500 is a better measure anyway. DJIA is for amateurs.

This actually is not a bad thing; equities seemed a bit overheated for some time now, and most people do not rely on equities as a primary source of income or wealth. It's going to hurt speculators and the super-wealthy, but I suspect they'll get over it somehow.

Popping the equities (and cryptocurrency) bubbles is good in the long run, just not for the doofus who claims he single-handedly caused a run-up in the DJIA.

Click to expand...

What makes the DOW for amateurs? My old professor, Harry Markowitz, mathematically determined that one can mimic the correlation of the entire stock market with 20 stocks. The Dow has 30 of the largest companies and correlates quite nicely with the broad market.

Visbek said:

Actually, he's responsible for neither. However, we can tag him as an uninformed, uninformable, megalomaniacal, hypocritical idiot for claiming he had anything to do with its rise, while Obama gets no credit whatsoever (despite being President during the longest peacetime expansion on record), and somehow he has nothing to do with its drop.

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Of course he is not responsible for either..... but he and far too many of his minions gave him credit. Its just desserts they should have to face the music on the other side of the roller coaster. I have flagged other posters for trying to tell us this market was about Trump, telling them how dangerous that was.... now we can enjoy the crow feast that has been set in front of them.

...and, as I pointed out, we are way over due for a recession. The stock market shedding wealth is often a precursor to a recession. A year into a presidency, that is actually a somewhat fair thing to pin on him. One of the reasons that we have yet to have a recession is the slow GDP growth.... economies like slow and steady.... but it was too slow for many, so they choose to seek a steeper growth. Like an airplane, when the economy climbs too steeply, it inevitably stalls (recession)..... Trump worked to grow it faster, which will increase likelihood of recession (especially since it has been so long since the last)....

The stock market has grown very steadily over the past 9 years, most of this growth during Obama's watch. But most forgot that. I had to correct a poster yesterday that wanted to tell us the Dow was at 10,000 three years ago (it was at 18,200)....

Dow Jones - 10 Year Daily Chart | MacroTrends

Trump has them convinced its all him. Trump inherited a good economy. The good salesman he is, he has taken all the credit for it. Trump has YET to screw up the economy, but some of the recent moves are risky, at best: tax cuts PLUS spending increases in a full employment economy is a formula for the failure.

upsideguy said:

Odd thing, he has a degree in Economics from the Wharton School of Finance. Although its a BS degree.

If anyone has ever made a good living from BS, its Donald Trump.

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Trump's degree is bought. His rich dad donated money to get him in and donated money so that he wouldn't flunk.

Was Trump really a top student at Wharton? His classmates say not so much | The Daily Pennsylvanian Trump, who graduated from Wharton in 1968, has also never challenged the fact that he "graduated first in his class," which various publishers and news agencies such as The New York Times have reported.

Penn records and Trump’s classmates dispute this claim.

In 1968, The Daily Pennsylvanian published a list of the 56 students who were on the Wharton Dean’s List that year — Trump’s name is not among them.

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Trump asked early in his Administration whether a falling dollar is good or bad. A "top" business school graduate should know that already.

MTAtech said:

Trump's degree is bought. His rich dad donated money to get him in and donated money so that he wouldn't flunk.


Trump asked early in his Administration whether a falling dollar is good or bad. A "top" business school graduate should know that already.

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....I agree. I bet the Wharton School very sheepishly acknowledges him as an alum. His understanding economics, even for someone with just a bachelor's degree, isn't a testament of a fine education.

BTW.... he was a transfer student from Fordham. Wharton, the business school of the University of Pennsylvania, is known for its graduate programs. Trump only attended two years as an undergrad.

upsideguy said:

....I agree. I bet the Wharton School very sheepishly acknowledges him as an alum. His understanding economics, even for someone with such a bachelor's degree, isn't a testament of a fine education.

BTW.... he was a transfer student from Fordham.

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Trump also donated millions to the school so his progeny could attend too.

MTAtech said:

What makes the DOW for amateurs? My old professor, Harry Markowitz, mathematically determined that one can mimic the correlation of the entire stock market with 20 stocks. The Dow has 30 of the largest companies and correlates quite nicely with the broad market.

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DJIA only includes large-cap stocks, is price-weighted, and doesn't cover all sectors. It really tells you more about how a handful of blue chips are performing that day.

The S&P is broader, covers more sectors, includes NYSE and NASDAQ, targets 70-75% of stocks traded, and is market weighted. S&P has been seen as more accurate for a long time, at least 10 years.

Anecdotally speaking, it seems like people who talk up the DJIA are not working in finance. S&P is hardly a secret, but DJIA these days is more an old school, general public thing.

The stock markets are no indicatior of how the economy is doing.

Cany you imagine the high fiving at the DNC , the WaPo the NY Times when the stock market took that hit the other day?
Must have have been some party!

LAFFRIOT!