new 2016 highs for sp500
just 0.3% from an all time high
new 2016 highs for sp500
just 0.3% from an all time high
now stocks, gold and bonds are up
just buy anything with a ticker symbol I suppose
what could go wrong?
...market will tie-up like Ben Saarel in the 1500m qualifying....Rigor Mortis.....
...or will it reach new levels, maneuvering around chaos like Kate Grace?
Seriously tho - that rigging up was amazing to watch. I guarantee that when he is 60 yrs old looking back at his running career that will be one of his favorite moments. It's those times you reach a limit, when you completely empty the tank, that we live for.
agip,
Yes, it was classic, he gets the "Rig of The Meet" award. Several years ago I ran an indoor 400m, some one described my last 20 meters as "lactic acid was coming out of my teeth."
Women's steeplechase was fun to watch. Allie had a good race, stuck to the rails and ran like heck the last 200 meters. Looking forward to so more track this evening.
Igy
Ghost of Igloi wrote:
agip,
Yes, it was classic, he gets the "Rig of The Meet" award. Several years ago I ran an indoor 400m, some one described my last 20 meters as "lactic acid was coming out of my teeth."
Women's steeplechase was fun to watch. Allie had a good race, stuck to the rails and ran like heck the last 200 meters. Looking forward to so more track this evening.
Igy
the steeple was terrific to watch yes - I was cheering and sighing and oohing and ahhing. fun stuff, and fast.
The S&P 500 index soared Friday, closing a touch below its previous record closing level as a surprisingly strong employment report fueled a steady buying spree on Wall Street.
The main indexes posted solid gains for a second straight week. The S&P 500 surged 31.93 points, or 1.5%, to 2,129.83, closing a point below its previous all-time high level of 2,130.82 reached May 21, 2015. Over the week, the large-cap index gained 1.3%.
"The equity market is trading on getting the best of both worlds: there is continued economic growth, but with inflation subdued and Brexit fallout uncertain, the Federal Reserve is unlikely to raise rates," said Wouter Sturkenboom, senior investment strategist at Russell Investments.
The U.S. economy added 287,000 jobs in June, the largest increase since last fall, offering some reassurance that the economy has rebounded after a trend of weak labor-market reports. Economists had been expecting 170,000 new jobs, according to an average of estimates from economists polled by MarketWatch.
The unemployment rate rose to 4.9% from 4.7%, suggesting that more people entered the labor force, given the better-than-expected headline number. Read more details and analysis on the labor report here.
The large-cap stock-market gauge is now above its levels before the U.K.'s decision to exit the European Union, dubbed Brexit, which sent the main indexes spiraling lower. The materials sector, up 2.5%, led the broad-market index, followed by a 1.9% rise in industrials and a 1.8% gain in financials. More than 98% of the stocks on the S&P 500 rose on Friday.
"After today's rally, the Brexit-related selloff looks like a temporary blip," said Joe Saluzzi.
Hey, Igy, do you seriously still think we're looking at 13,000 by mid-September, or would you rather just pay up now and get it over with?
POTO,
No a bet is a bet. I still think I will be right, not sure on the timing. The market still hasn't crossed the previous high of 5/21/2015. Earnings are still in decline.
Next week earnings start with Alcoa after the close. Brexit excuse will be used to explain falling earnings.
Regardless, I am good for the bet.
Hope you are well.
Igy
Ok, I can wait. And the market will definitely reach a new high at some point. Want to go double or nothing that it will happen before 13,000? 😀
POTO,
No, I was actually expecting a new high Friday. The S&P 500 and Dow have been in a tight range for over eighteen months. The underlying distortions are so great the downside could be well below 13,000. Is there a possibility that earnings can exceed prior highs and the market grow into those earnings? Of course anything can happen. The global price action in stocks, bonds, commodities and precious metals says something is amiss. It is not an overstatement that the Dow and S&P 500 are nearly the only major stock indices in the black over the past year.
Igy
How does rising prices for stocks, bonds, etc mean something is amiss? Don't investors want stock prices to rise?
A stock or a bond is a claim on a stream of income paid to investors over time. Of course in the present environment many are renters of stocks and bonds. Why else would someone buy Netflicks with a PE of 300 or a 10 Year Treasury at 1.37%. In the end someone must own a stock or bond until it is retired or mature. So someone will be left holding the bag.
Igy
"After today's rally, the Brexit-related selloff looks like a temporary blip," said Joe Saluzzi.
Where do they find such geniuses?
Speaking of geniuses, let's all agree to stop posting stuff from David Stockman and John Hussman. That would immediately increase the credibility of this thread tenfold.
No thanks. David Stockman's site has articles you can't get without a subscription, plus it offers views that you rarely find in conventional financial media that is industry financed. John Hussman is one of the most original and interesting financial writers and maintains a weekly commentary that goes back well over a decade.
Here Stockman outlines what really went on Friday and the truth behind the jobs number.
http://davidstockmanscontracorner.com/wall-street-monkeyshines-look-ma-no-hands/
Ghost of Igloi wrote:
No thanks. David Stockman's site has articles you can't get without a subscription, plus it offers views that you rarely find in conventional financial media that is industry financed. John Hussman is one of the most original and interesting financial writers and maintains a weekly commentary that goes back well over a decade.
They both say what their readers want to hear. And they both have miserable investment histories. Only an idiot would pay to read them. They are both laughing all the way to the bank.
Why can't you answer a simple question?
Idiot Investor,
I answered your question in a thoughtful and deliberate way. If your cognitive ability is lacking, well what can I say. You want a simple answer to your preconceived notion of what should be. Sorry, it is never that simple.
Igy