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originally posted by: infolurker
a reply to: notsure1
I won't celebrate until it climbs over 26K again.
To volatile for me to play right now.
I still worry that it will bottom out in the teens.
“The president has voiced policy differences with Jay Powell, but Jay Powell’s job is 100% safe. The president has no intention of firing Jay Powell,” Hassett told the Wall Street Journal, a sister publication of MarketWatch.
To be sure, the Fed is not and should not be immune from criticism. The Fed has often been accused, and rightly so, of contributing to the onset of recession by raising rates too high.
Yet the Fed has become the world’s most powerful and influential central bank precisely because it’s seen by investors around the world as an independent authority.
That reputation could be lost for good if the president was able to vanquish the Fed — to the longstanding detriment of the U.S. economy.
originally posted by: Bluntone22
I find it amazing that so many people talk about the dow jones going up and down and I'm guessing they have no idea that the average is based off of 30 stocks.
That's right, the entire stock exchange is judge off of the value of 30 stock shares.
And no, we did not anticipate that President Trump would activate the Plunge Protection Team over the weekend: the good news in question was that as Wells Fargo calculated U.S. defined-benefit pensions fund would need to implement a "giant rebalancing out of bonds and into stocks" - in fact the biggest in history - with the bank estimating roughly $64 billion in equity purchases in the last trading days of the quarter and year, prompting the banks to ask if traders are about to make pension rebalancing "great" again.
Judging by today's market action, the answer is a resounding yes, even though as Wells warned investors and traders looking for a desperately needed respite from market gyrations "may have to deal with yet one more seismic bout of volatility before Dec 31 finally pops up on their calendar dials."
originally posted by: iplay1up2
a reply to: notsure1
It doesn't, mean that the stock market is stable. It also doesn't, make Friday and Monday go away. Who knows what tomorrow and Friday this week will bring.