Dow reaches record high as Trump-led market rise continues

[Spike]

Making America great already!


Wall Street rose on Thursday, with the Dow setting a record intraday high, as investors bet that Mr. Trump would lead a shift away from austerity policies.

http://www.theglobeandmail.com/glob...mp-led-market-rise-continues/article32786777/

 

[Ron Burgundy]

"Austerity policies"???

 

[CharlesDavenport]

And the FTSE has been kicking *** since Brexit.

 

[Steeltime]

But, but, but ... investors fear uncertainty and markets would plummet if Trump wins!! MSNBC and CNN said so!!

 

[Troglodyte]

"Austerity policies"???

This!

The National Debt hasn't exactly been being paid down.

 

[Stryker]

Um... He doesn't take office until January 20th. No love for Obama??

 

[Buster]

Rich white people invest in the stock market, therefore the stock market is racist.

 

[CharlesDavenport]

Um... He doesn't take office until January 20th. No love for Obama??

Um..liberals were saying the market would tank if Trump won the election. And to answer your question, no. None.

 

[Spike]

No love for Obama??

Who?


all the dickdorfs that predicted a market collapse from Trump being elected are crying too

 

[ark steel]

Um... He doesn't take office until January 20th. No love for Obama??

The point is that, on election night, futures dropped considerably. Quickly jumped on as a reaction to Trump winning.

 

[IndySteel]

From a Fox News Alert:

The Dow Jones Industrial Average closed at 18,845 points, another all-time high, as Trump optimism propels it to the best week in five years.

And that happened in only 3 days.

 

[hamster]

Thanks Donald for the free cash!

 

[steel dino]

At this time...

Not a fan of President elect Trump...

But this is a "good start" if indeed driven by the election results..

A strong economy is a good way to kick off his term, which will allow Trump's cabinet to focus on the country's other pressing infrastructure issues..

 

[Troglodyte]

A strong economy is a good way to kick off his term

But a fake economy isn't. We've tried artificially low interest rates, now we're going to try artificially low taxes.

 

[BLITZ]

1 month ago my accountant convinced me to by us steel.(x) just in case Trump won. I listened to him on that, but he wanted me to sell it on Friday. I chose not to yet. was going to sell half but think the steeltrain will run for a little longer... thanks Donald!!!

 

[IndySteel]

1 month ago my accountant convinced me to by us steel.(x) just in case Trump won. I listened to him on that, but he wanted me to sell it on Friday. I chose not to yet. was going to sell half but think the steeltrain will run for a little longer... thanks Donald!!!

I would hold onto it for a while. U.S. Steel is my biggest customer and they have taken a beating during the Obama years. They finally earned a profit this last quarter because they made massive spending cuts and laid off so many employees. My main contact at the Detroit mill is doing the job that three people used to do. Trump will be good for steel. And coal. And small businesses, like mine.

 

[Steeltime]

But a fake economy isn't. We've tried artificially low interest rates, now we're going to try artificially low taxes.

I am not sure how much Trump can reduce taxes without running up significant additional debt. The supply-side theory works, as Reagan's economy showed, but that was true mainly because he started with tax rates at 70%.

I don't know how the increased economic activity and increased income will offset tax reductions at 39%. I do know, however, that lowering capital gains always yields more tax revenues.

We'll see.

But to be fair, lowering tax rates is a much better "artificial" way to pump the economy, because it returns income to the private sector and the multiplier effect means that the money turns over several times. Artificially depressed interest rates do not have that effect.