Great stock market rally today!

jayem · Nov 9, 2020

DJIA is up over 1200 points today. If it can gain 500 more, it’ll be over 30,000. The WSJ attributes it to the promising Pfizer vaccine news. And to Joe Biden’s election. Looks like the financial markets are happy with old Joe. At least for now.

https://www.wsj.com/

GoldenBoy89 · Nov 9, 2020

We saw the entire world breathe a sigh of relief and rejoice in the streets over the weekend. It's like what I imagine people must have felt at the end of WWII. With the outgoing president continuing to behave like a spoiled child, people's confidence in the incoming administration will only strengthen.

Aldebaran · Nov 9, 2020

jayem said:
DJIA is up over 1200 points today. If it can gain 500 more, it’ll be over 30,000. The WSJ attributes it to the promising Pfizer vaccine news. And to Joe Biden’s election. Looks like the financial markets are happy with old Joe. At least for now.

https://www.wsj.com/

It's also from the economy Joe would actually be inheriting from Trump. Joe hasn't actually done anything yet other than make canned speeches. He hasn't even waited for all the election ballots to be counted yet--even though "every vote counts".

Hans Blaster · Nov 9, 2020

Aldebaran said:
It's also from the economy Joe would actually be inheriting from Trump. Joe hasn't actually done anything yet other than make canned speeches. He hasn't even waited for all the election ballots to be counted yet--even though "every vote counts".

How did Titleist, Callaway, and Ping do today on the markets? (I don't know Donald's brands.)

keith99 · Nov 9, 2020

Hans Blaster said:
How did Titleist, Callaway, and Ping do today on the markets? (I don't know Donald's brands.)

Shouldn't you be looking at brands that are not allowed in professional play instead of respectable brands? The golf equavelent of corked bats!

durangodawood · Nov 9, 2020

Aldebaran said:
It's also from the economy Joe would actually be inheriting from Trump. Joe hasn't actually done anything yet other than make canned speeches. He hasn't even waited for all the election ballots to be counted yet--even though "every vote counts".

My favorite thing Trump did was lowering the corporate tax rate. Not because I'm in love with corporations, but because we cant sit out the global race to the bottom in that regard. I do pity the people who will have to pay for the pre covid deficits. But hey their problem! Thats the new mantra.

Mainly tho, I think presidents get too much credit/blame for economic vectors. Unless they do something disastrous, we shouldnt talk about the Clinton economy, the Bush economy, etc.

jayem · Nov 9, 2020

durangodawood said:
My favorite thing Trump did was lowering the corporate tax rate. Not because I'm in love with corporations, but because we cant sit out the global race to the bottom in that regard. I do pity the people who will have to pay for the pre covid deficits. But hey their problem! Thats the new mantra.

The TCJA did nothing for me. Most of the savings realized by corporations went into stock buybacks. Which raised the value of my portfolio somewhat. But this was outweighed by losing my itemized deductions. So even though my marginal rate went down, my taxable income went up. And my federal taxes increased big time.

essentialsaltes · Nov 9, 2020

I'm glad I voted with my money on Nov 2 and bought back in, after the rotten week the week before.

dqhall · Nov 9, 2020

jayem said:
DJIA is up over 1200 points today. If it can gain 500 more, it’ll be over 30,000. The WSJ attributes it to the promising Pfizer vaccine news. And to Joe Biden’s election. Looks like the financial markets are happy with old Joe. At least for now.

https://www.wsj.com/

Airlines, cruise ships and energy stocks were up.

Aldebaran · Nov 10, 2020

durangodawood said:
My favorite thing Trump did was lowering the corporate tax rate. Not because I'm in love with corporations, but because we cant sit out the global race to the bottom in that regard. I do pity the people who will have to pay for the pre covid deficits. But hey their problem! Thats the new mantra.

Mainly tho, I think presidents get too much credit/blame for economic vectors. Unless they do something disastrous, we shouldnt talk about the Clinton economy, the Bush economy, etc.

The lowering of Corporate Taxes is one of the big things the dems make sound so evil. It was an attempt to get companies to come back to America, even though Obama cheerfully claimed that those jobs would never be coming back. Well, Trump lowered their taxes, they came back, and the economy flourished. Now Obama's sidekick seems to want those companies to go back to Mexico/China again. Then who will Biden be able to hit with taxes to fund the Left's pet projects? Yep! You and me!

FireDragon76 · Nov 11, 2020

jayem said:
The TCJA did nothing for me. Most of the savings realized by corporations went into stock buybacks. Which raised the value of my portfolio somewhat. But this was outweighed by losing my itemized deductions. So even though my marginal rate went down, my taxable income went up. And my federal taxes increased big time.

If a country wants to attract business investment, it has to have lower corporate taxes. That's one reason Sweden does relatively well.

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Great stock market rally today!

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