The Dow broke 28,000 again! USA! USA!

[yellowcanine]

https://www.google.com/search?q=dow+jones&rlz=1C1GCEA_enUS787US787&oq=dow&aqs=chrome.0.69i59j69i57j0l2j69i65j69i60l3.2503j0j7&sourceid=chrome&ie=UTF-8

Apparently the news about Amazon hiring workers pumped it up this morning.

[redstatebluegirl]

1. Amazon hiring workers at horrible wages, with terrible benefits who are treated like slave labor.

Great, just what makes America Great Again.

[Amishman]

2. current valuations, especially in the tech sector, are absurd and unsustainable

Irrational Exuberance 2.0

[Walleye]

3. I like to think it's because Biden is so far up in the polls. Optimism

[Sherman A1]

4. Well it is good for

My Pension fund and 401k so there it isn’t a complete negative.

[bluestarone]

5. Sometime this will BLOW UP!

I fear Joe will take a hit on this! It's a completely false market now. I have nothing in the market BUT if i did, i'd make a decision BEFORE the election on which way to go.

[empedocles]

6. The false market will blow up. Case can be made it is long overdue. Lot of 'interests'

in keeping it up until November.

[However, the markets are huge, diverse, and some interests are not political. The underpinnings, A/D lines, etc. are very weak. Last 7 trading days are evidence].

[ProfessorGAC]

7. Still Down 2.85% YTD

And around 44% over 45 months. Around 10% per year. With enormous fed intervention!
It went from 7380 to 19,830 during Obama. 272% in 8 years. Around 13% per year and included a recession caused by the prior administration!
So, DJIA goes over 28k. Big deal.

[D_Master81]

8. Several possible reasons

Several things I’ve felt are going into the stock market rise over the past 10 years:
1) 401ks and people auto depositing money. It’s a good retirement strategy to dollar cost average but with less pensions and savings rates basically zero, the only place to go to make money with your money is the stock market or real estate and most people don’t have the funds to do real estate.
2) online/mobile trading apps make trading easier for the average person. This is both good and bad as the average person has access but not as much investment knowledge. Plus they make investing on margin very easy so I think people are getting fomo and gambling now.

[DBoon]

9. I'd add

3) Increasing income inequality. The very wealthy are making more now and tend to invest rather than spend
4) Companies spent their tax windfall buying back stock. Less stock means higher prices

[Awsi Dooger]

10. I've been hoping it would plummet 10% by election day

Even though I'd take a hit