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No wonder rich people want us to go back to work. We're the ones that make the money for them.
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The Stock Market
- Thread starter Don2 (Don1 Revised)
- Start date
No wonder rich people want us to go back to work. We're the ones that make the money for them.
Jimmy Higgins
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6.6 million more jobless claims. The Dow is taking it like a champion... up 200+ pts at the moment.
fromderinside
Mazzie Daius
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Ho Heave Ho Ho Ho Heave Ho "Whatcha think Mr. Muggins?"
southernhybrid
Contributor
The DOW is currently up mostly because of the energy sector. Oil prices were up almost 25% today. We live in an insane world!
Jimmy Higgins
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Why? Also, 25%... is getting it to $25 a barrel! It is interesting how Saudi Arabia managed to use a crisis to corner the global market on oil. The US has a lot of bankruptcies coming from this. And hardly a peep, instead we hear about 500 more troops on the US border with Mexico from Trump because of narco trafficking.
TV and credit cards
Contributor
Much vacillations and fluctuations
The corona curve will not be the final word
Oh no no no
It will pick the pocket of all the newbs
And when they come to realize the volume is low
It’ll be my oh my
The institutional investors stayed on the side.
And down down down we go
It’s about a damaged global economy
Now you know
The corona curve will not be the final word
Oh no no no
It will pick the pocket of all the newbs
And when they come to realize the volume is low
It’ll be my oh my
The institutional investors stayed on the side.
And down down down we go
It’s about a damaged global economy
Now you know
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Just read that Bonespurs did a deal with Putin and KSM to reduce output.
Elixir
Made in America
Can't let those campaign contributions dry up! Priority #1 for the Trump Junta.
T.G.G. Moogly
Traditional Atheist
Can you even imagine the outcry from right wing idiots and GOPers generally if Obama had asked the OPEC Cartel to reduce output so consumer prices would rise and corporations would become more profitable? The Hypocrisy on the right knows absolutely no bounds. They'd be calling for assassination or impeachment.
southernhybrid
Contributor
The DOW is up over 1200 right now. Does that mean it will be down over 1000 tomorrow?
I saw a Trump rant earlier today. He said if oil prices didn't go up, he was going to put a large tariff on foreign oil. WTF! Meanwhile, gasoline usage is down by about 50% according to some CNBC person. I can believe that since most people are under shelter in place orders. Add to that, all the people who are out of work or working from home, and it makes sense that gasoline usage is falling. I also read last week that pollution levels are down due to the decreased usage of petroleum products, but I'm off topic so I'll end here.
I saw a Trump rant earlier today. He said if oil prices didn't go up, he was going to put a large tariff on foreign oil. WTF! Meanwhile, gasoline usage is down by about 50% according to some CNBC person. I can believe that since most people are under shelter in place orders. Add to that, all the people who are out of work or working from home, and it makes sense that gasoline usage is falling. I also read last week that pollution levels are down due to the decreased usage of petroleum products, but I'm off topic so I'll end here.
funinspace
Don't Panic
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Perhaps...one never knows on Mr. Dotards Wild Ride.
FFvC polling is now even sucking wind in Texas...wonder why. Evidently it took oil execs about a week of badgering to get the Dotard to comprehend that crashing oil prices hits a lot of US workers. In the long run, lower oil prices is a generally a good thing for the economy. With Covid-19 shutdowns around the world, combined with a Saudi-Russian quota pissing contest, it means really shocking drops in oil prices. Lots of American oil businesses will be crushed, the longer this goes on in both areas...
Jimmy Higgins
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We are near the Apex, so we'll be able to get out and shop in two weeks... err... over a month or two.
TV and credit cards
Contributor
I believe we will max out our oil storage capacity by mid May so they are going to pump less regardless and absent any deal, the Saudi’s will be the last one’s standing. They can pump and make money down in the teens.
Lesson learned from Asia is we have no choice but to let this closed economy carry on long after the infection rate drops. I don’t know how economically sustainable that will be around the world. Civil unrest could become an issue. The way it looks to me, we may have to go back to work regardless. We’ll be putting on masks like we put on socks. Just another part of our daily attire.
Lesson learned from Asia is we have no choice but to let this closed economy carry on long after the infection rate drops. I don’t know how economically sustainable that will be around the world. Civil unrest could become an issue. The way it looks to me, we may have to go back to work regardless. We’ll be putting on masks like we put on socks. Just another part of our daily attire.
Elixir
Made in America
There is no reason whatsoever to think that this administration learns lessons, period. It will carry on with whatever bullshit Donald Trump thinks makes Donald Trump look good on any given day. Which almost every day means wrecking something, killing some people and/or gutting some government function.
The Donald doesn't learn lessons, he teaches lessons!
Jimmy Higgins
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Stock market reaction to 6+ million more unemployed? TBD.
14 to 16 million have lost their jobs in the last three weeks! I don't think Congress came up with a viable plan to cover this and we are in for a world of pain.
14 to 16 million have lost their jobs in the last three weeks! I don't think Congress came up with a viable plan to cover this and we are in for a world of pain.
Jimmy Higgins
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Futures up 300 pts. 6.6 million lose jobs numbers released. Futures down 50 points. A few minutes later, futures up several hundred points. WTF?!
hurtinbuckaroo
Contributor
If 6+ million is less than feared, the market could bump up. The number doesn't surprise me at all; people who lost a job the week before were still trying to register.
TV and credit cards
Contributor
Exercise smart financial distancing. Ten foot pole required.
Jimmy Higgins
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There is a company I think is on sale due to the drop, but I was waiting for the bottom. And now the market is acting like the doors at stores will be open in a week, not in August.
Elixir
Made in America
WTF? indeed. It makes no sense to me either, but what do I know?
I'll be surprised not in the least if the indexes (indices?) all drop 30% from here some time in the next few weeks - when it sinks in that not even The Mighty Trump can summon a miracle to cure The Covfefe Virus. In the middle of this Trump shit-show, anything might happen in the markets. There is probably a TON of manipulation going on, Trumpsuckers getting advance on crap that he spews etc...