Cypress (04-05-2021), gemini104104 (04-09-2021), Trumpet (04-06-2021), ZappasGuitar (04-05-2021)
An ISM survey for March showed a measure of U.S. services industry activity jumped to a record high. The data comes on the heels of Friday’s report showing U.S. nonfarm payrolls surged by 916,000 jobs in March, well above 647,000 forecast by a Reuters poll of economists.
“Investors are more focused on strong economic growth and how that potential leads to better earnings in the future,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in New York.
With speedy vaccinations and additional government stimulus helping the S&P 500 and the Dow clinch all-time highs, focus now turns to progress on a massive infrastructure plan and the upcoming corporate earnings season for insight on the sustainability of the rally.
The Nasdaq is still about 4% below its record peak from February as high-growth tech stocks attempted to recover from a pullback after a spike in bond yields.
Ten of the 11 major S&P sectors rose, with tech, consumer discretionary and communication services leading gains.
“It is always an encouraging sign when the market rallies on broad economic news. Some of the tech stocks that had come under pressure are seen as may be something that has a little bit more value to them,” Pavlik added.
Energy shares were in a weak spot, tracking a fall in oil prices as producers decided to increase output.
At 11:45 a.m. ET the Dow Jones Industrial Average was up 416.22 points, or 1.26%, at 33,569.43, the S&P 500 was up 58.10 points, or 1.45%, at 4,077.97 and the Nasdaq Composite was up 184.03 points, or 1.37%, at 13,664.14.
https://www.reuters.com/article/us-u...-idUSKBN2BS0TW
Cypress (04-05-2021), gemini104104 (04-09-2021), Trumpet (04-06-2021), ZappasGuitar (04-05-2021)
Joe Biden has put America back on the map again. Thanks, Joe!
Cypress (04-05-2021), Jack (04-05-2021), no worries (04-06-2021), Trumpet (04-06-2021), ZappasGuitar (04-05-2021)
Isaiah 6:5
“Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”
Wolverine (04-06-2021)
The economy always seems to do better whenever Democrats are in charge.
Probably because Democrats are stable and Conservatives are unbalanced, unhinged, knee-jerk reactionaries.
When I die, turn me into a brick and use me to cave in the skull of a fascist
Cypress (04-05-2021), Hoosier Daddy (04-05-2021), no worries (04-06-2021), Trumpet (04-06-2021)
Cypress (04-05-2021), Trumpet (04-06-2021), ZappasGuitar (04-05-2021)
no worries (04-06-2021), Trumpet (04-06-2021)
What kind of country have we become?
One in which federal prosecutors can take “evidence” before a “grand jury,”
and that grand jury can “vote to indict” a former president for 91 alleged “crimes”?
no worries (04-06-2021), Trumpet (04-06-2021)
Biden’s stimulus will affect the whole world
The OECD’s latest economic outlook forecasts that US president Joe Biden’s programme of government spending — worth 8.5 per cent of US national income — together with the rapid rollout of vaccination efforts, will lift global income by 1 per cent this year. The Paris-based think-tank estimates that the world economy will expand 5.6 per cent this year from its pandemic-induced low — up from its previous 4.2 per cent forecast last December.
A booming US economy means economic demand will “spill over” into the rest of the world, particularly its nearest neighbours and most important trading partners Mexico and Canada as well as export-oriented economies in east Asia and Europe. For advanced economies, which borrow in their own currencies, the implications of faster growth in the US is almost entirely positive — increasing potential exports as well as encouraging the “risk on” sentiment that boosts investment.
Yet beware as folllows: An overheating US — if the greater demand for goods and services leads to capacity constraints and causes higher inflation — could, however, trigger higher interest rates globally. Investors are betting that the Federal Reserve will either be forced into increasing rates to choke off inflationary pressure or feel comfortable removing stimulus as the economy returns to something near full employment. Members of the European Central Bank’s board are already concerned that this could raise financing costs — reducing the effectiveness of their stimulus efforts in a region where monetary policy remains by far the largest form of stimulus.*"
https://www.ft.com/content/6684463d-...7-f2b4f32133b3
Last edited by gemini104104; 04-07-2021 at 01:37 AM.
That's why I didn't hesitate to put the teabagger (www.teaparty.org) on my troll list.
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