Cad Wedge NC
Member
Very good point... this is not a United States problem that our government caused by not raising interest rates. This was a punch from outside our boarders.
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
pcbjr
Member
actually, from outside and in ...
Yellow Snow
Member
I'm glad to see this finally happening (even if it took a global pandemic to get it done), since this is the most regressive part of the tax code. If payroll tax rates - SS & Medicare withholding - were treated in the same way as income taxes, most lower-wage Americans wouldn't owe *any* payroll taxes.
www.cnn.com
Trump pushes payroll tax cut and assistance for hourly workers in coronavirus economic response
President Donald Trump said Monday he would press lawmakers to enact a payroll tax cut and ensure assistance is available to hourly workers amid a roiling coronavirus pandemic that's caused deep economic concerns and stock market shock.
Windergawx
Member
This all out all stops ideas tells me we maybe in for a real hurt real quick
Downeastnc
Member
Dow up 850 points on the futures
Downeastnc
Member
I'm glad to see this finally happening (even if it took a global pandemic to get it done), since this is the most regressive part of the tax code. If payroll tax rates - SS & Medicare withholding - were treated in the same way as income taxes, most lower-wage Americans wouldn't owe *any* payroll taxes.
Trump pushes payroll tax cut and assistance for hourly workers in coronavirus economic response
President Donald Trump said Monday he would press lawmakers to enact a payroll tax cut and ensure assistance is available to hourly workers amid a roiling coronavirus pandemic that's caused deep economic concerns and stock market shock.
If this happens they would have to cut almost all of it for it to be any real help otherwise it will be so small it wont be noticeable for most people...also it will reduce the flow of money into the funds that pay out SS and Medicare....funds that are already not doing great.
Webberweather53
Meteorologist
I found this to be pretty neat. People seem to really hate Mondays. Historically, really massive drops in the S&P 500 on Monday usually bode for the stock market in the coming days, weeks, & months unless of course you’re actually about to enter a recession.
TP has bottomed out.. someone with recently bought Sparkle stock is about to makea killing..
Downeastnc
Member
Futures are hovering around +800 , Japan and Hong Kong are green right now, so the European markets hopefully follow.....the Dow might not get all 2000 back but it might get close. That said I think the up days will be followed by bigger down days.…and we are not at the bottom yet.
Webberweather53
Meteorologist
Futures have climbed to +1000, looks like we’re gonna make up a large chunk of what we lost yesterday
Yellow Snow
Member
Foreign markets (with the exception of India's Sensex) are all in the green today...so far, so good.
NCSNOW
Member
Gas coming in at $1.90 on way to work Triad. See if it drops some more latter today into tommorow. Ill know when barrell of oil goes up, cause pump prices will rise in lock step.
Nerman
Member
What?
I think you are seeing the highs of the day right now.
White House plan for economic response to coronavirus is 'not there right now,' officials say
U.S. stocks pointed higher following President Trump's suggestion that a payroll tax cut and other stimulus measures may be in the works.
www.cnbc.com
NCSNOW
Member
Dow is +811 at the moment
Nerman
Member
America’s worst financial adviser
White House economic adviser Larry Kudlow has some terrible financial advice to explain.
Only the best people.
Nerman
Member
904
Nerman
Member
Robert Shiller: Coronavirus is creating a 'dangerous time' for markets, panic is just starting
Nobel-prize winning economist Robert Shiller warns the market meltdown is far from over.
It was Shiller's PE ratio chart I posted yesterday.
Webberweather53
Meteorologist
Once Saudi Arabia’s proposed record production of 12.3 million barrels per day kicks in during April and the coronavirus becomes more widespread in the US, the price will probably plummet. It’s certainly not unreasonable to expect prices to drop towards $1.50 ish here
Yellow Snow
Member
No question about it.
US gas prices expected to fall as coronavirus and failed OPEC talks send oil market reeling
The coronavirus outbreak and disagreements among OPEC members have caused global oil prices to plummet, and experts say consumers are likely see lower prices at the pump.
abcnews.go.com
OPEC and (particularly) Russia have declared war on the US shale industry. Their goal is to weaken our oil production in order to take away market shares.
So I have an idea: Right now we can actually afford to hike gas taxes. I just paid $1.75 per gallon and would still be happy if it was $2.00 a gallon. We should guarantee our oil producers $30 per barrow (I think this is ~ break even). We enact a variable gas tax. (ex.)Say oil goes down to $25 a barrow, we could hike the tax to 5 cents per gallon to then provide $5 per barrow to our producers. I think only good would come from this; either OPEC/Russia cut back production (we keep shares) or oil/gas stay real low which would still be good for us.
So I have an idea: Right now we can actually afford to hike gas taxes. I just paid $1.75 per gallon and would still be happy if it was $2.00 a gallon. We should guarantee our oil producers $30 per barrow (I think this is ~ break even). We enact a variable gas tax. (ex.)Say oil goes down to $25 a barrow, we could hike the tax to 5 cents per gallon to then provide $5 per barrow to our producers. I think only good would come from this; either OPEC/Russia cut back production (we keep shares) or oil/gas stay real low which would still be good for us.
Nerman
Member
+413 Gains cut in half a little over an hour. Wouldn't be surprised if it finished red today.
Yellow Snow
Member
ForsythSnow
Moderator
Gains keep dropping +150 now
Why does it take so long for a checking deposit to show up in your Etrade account? The money has already been withdrawn from my checking but still isn’t available FML It’s like the money just disappeared
Russia isn't ruling out coming to an agreement with the Saudis. We'll see if this is a temporary thing or not. I suspect we have to get a little deeper into it to see if there's a legitimate chance for those groups to come back to the table together. If they don't, there are going to be some pretty sizable blow-ups in the energy sector, a sector filled with unprofitable companies, junky debt, credit issues, and derivatives. It has the potential to trigger a pretty big credit event.
In fact, there are lots of zombie companies out there who stand on the threshold of bankruptcy. If things don't normalize soon, you're going to see a rash of defaults, bankruptcies, and credit freezes as well as some notable hedge fund blow-ups and possible bank issues. You don't get the type of rapid and outsized moves in stocks, commodity prices, currencies, and bonds and not have some pretty substantial knock-on effects. I suspect we will start to see some fireworks in the coming days/weeks, unless things quickly normalize (which I think is unlikely).
I expect bail-outs and deeper financialization to follow. The Fed meeting next week is gong to be really interesting. I imagine they will bring out the bazooka, if they can wait that long. The fiscal stimulus rally today is already unwinding. I doubt they will suffer too many more down days before something is announced.
In fact, there are lots of zombie companies out there who stand on the threshold of bankruptcy. If things don't normalize soon, you're going to see a rash of defaults, bankruptcies, and credit freezes as well as some notable hedge fund blow-ups and possible bank issues. You don't get the type of rapid and outsized moves in stocks, commodity prices, currencies, and bonds and not have some pretty substantial knock-on effects. I suspect we will start to see some fireworks in the coming days/weeks, unless things quickly normalize (which I think is unlikely).
I expect bail-outs and deeper financialization to follow. The Fed meeting next week is gong to be really interesting. I imagine they will bring out the bazooka, if they can wait that long. The fiscal stimulus rally today is already unwinding. I doubt they will suffer too many more down days before something is announced.
I’m trying to invest in Ford Motor. Stable stock that pays dividends. Plus it has just about bottomed out
mydoortotheworld
Member
Lol what the hell happened? We were what, +700 for the day?? Now we’re back to the red????????
Nerman
Member
And it's red. Shed almost 1000 points in 2 hours. Trump isn't going to be able to stand in front of a few cameras and make stuff up this time. Or tweet it away.
- The White House is far from ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials said.
- The revelation comes as U.S. stock futures pointed toward a rebound following President Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works.
- However, inside the administration, some officials were stunned by Trump’s claim that he would hold a press conference Tuesday to announce an economic plan as the actual details remain up in the air.
We were up 900ish. The off-the-cuff mention of fiscal stimulus by Trump yesterday sparked the rally. Nothing else has changed. He tweeted this morning that nothing was actually going to happen on that front this week, blaming Pelosi and the Democrats. Even if a fiscal thing did get passed, I'm not sure how someone who is quarantined will actually be able to put any extra money to adequate use to stimulate economic activity. Down the road, maybe. As the debt continues to balloon....can't wait for $3 Trillion dollar deficits.
DOW just went negative -15.70
Edit:-48.82
Edit:-82.16 Dropping fast
Edit:-134.65 Dropping really fast
Edit:-48.82
Edit:-82.16 Dropping fast
Edit:-134.65 Dropping really fast
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Nerman
Member
If you're looking for a dividend on sale check out XOM.
D
Deleted member 609
Guest
Read reddit wallstreet bets. Its awesome
Trump’s word has little credibility now due to past lies, half-lies, and exaggerations. He’ll almost certainly never get back the credibility that he may have had before. He’s by far the worst I can recall in that way.
Lots of easy money being made.
Close to the bear market threshold. How much further will it go? Dow could make a run at 20k before this panic is all said and done. There’s a fortune to be made if you time it right. The market is going to explode again going into summer. Imo
Yellow Snow
Member
Stressing over hourly fluctuations during daily trading is nuts. If you're in the markets for the long term, the decadal trendline is always up.
If we fall to 6,594 (the nadir that the DJIA hit during 2008-2009 financial crisis), let me know. Until then, everyone needs to take a deep breath...
Flurry
Member
Exactly...The market is not for the faint of heart....Especially when you look at it several times an hour
Webberweather53
Meteorologist
If the market is going down or not increasing for any substantial period of time, you're usually in a world of trouble.
Huh? Do you really think people in 2008 were saying "wow, the dow is still around 10,000 so it's automatically not as bad as the 1987 panic, there's absolutely nothing to worry about". Lol k.
Yellow Snow
Member
That's not what I was saying at all - and 2-3 weeks is in no way a "substantial period of time" for a long-term investor.
ForsythSnow
Moderator
No that's not how things work. Look at the difference, not the numbers. The stock market has plunged in a short period of time MORE than the 2008 financial crisis in numbers, 12K to 7K then, 29K to 23K now. Percent wise it's not as bad still, as 21% has been chopped off from this vs 42% then (Note this is just looking at numbers from 0 to the peak prior to the drop). I'd get ready for the recession. It's inevitable and it's in the final minutes.
Long term investment doesn't apply because that's the economic cycle, unless you're retiring in the next 5 years. It's the businesses right now that can't afford to lose money that will be affected the most.