S&P 500, Dow, Nasdaq Hit Records Together First Time Since 1999

[Purveyor]

Source: Bloomberg

All three U.S. stock benchmarks rose together to record highs for the first time in 16 years amid surprising earnings. European shares erased the slump that followed Britain’s secession vote. Oil climbed, while Treasuries slumped.



The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite Index advanced amid better-than-forecast profits at retailers Macy’s Inc. and Kohl’s Corp. Europe’s stocks closed at the highest since May. Oil climbed on speculation producers could agree on moves to support prices during talks in September. Treasuries fell as an auction of 30-year bonds saw a retreat from the level of investor interest at previous sales this week. Mexico’s peso led gains among major currencies as the central bank kept its interest rates unchanged.

Investors have piled into global equities amid better-than-estimated corporate earnings, improving economic data and optimism central banks will stay supportive of growth. The number of Americans filing applications for unemployment benefits was little changed last week, holding near four-decade lows that highlight a more robust labor market.

Still, that stronger jobs picture has yet to convince traders that the world’s largest economy is solid enough for the Federal Reserve to raise interest rates this year.

Read more: http://www.bloomberg.com/news/articles/2016-08-10/oil-slump-clouds-asian-stock-outlook-as-kiwi-climbs-with-copper

[forest444]

1. I remember the day the Dow first hit 10,000.

I was a bank teller in Orange Cunty, California, at the time. All the Republican customers were parroting the same quote: "this is only happening thanks to Congress."

Boy, denial ain't just a river in Egypt. They were obviously hearing that from Lumpball; a lot of them even sounded like him as they said it.

Qué será.

[bucolic_frolic]

2. That's like a sky's the limit signal

no resistance anywhere

I'd be cautious, it's been up 140 points just about every day

[PoindexterOglethorpe]

3. What time frame are you considering?

Back in June the Dow dropped about 750 points. It has since recovered.

Keep in mind that over time, over the long term, the Dow rises about 10% per year. Very few years are exactly that average.

One reason to hope that Hillary Clinton wins the election is that the economy, and the stock market, both do better under Democratic Presidents.

[bucolic_frolic]

5. I'm not considering any time frame

Breakout operates the same in all time frames

Theoretically there is no resistance in the area above

But most of the time they just don't drift upward even though that's what
the signal means

I do agree, the market is reflecting bullish optimism over an election that is
not really in dispute right now, and a winning candidate that will not balloon
the deficits with supply side nonsense

reason for optimism! But there still has to be a top.

If Trump wins, there will be a market collapse of epic proportions as fear
grips the nation.

[PoindexterOglethorpe]

6. Oh. I asked because you said it was up 140 points a day,

and so I wondered what period of time you were looking at.

[progree]

4. I'd be gurgling in ecstasy if we weren't in a prolonged earnings recession

Last edited Thu Aug 11, 2016, 07:04 PM - Edit history (1)

The gloomy profits narrative underlying the stock market just got worse, 7/22/16

Earnings growth for America’s biggest companies has been lackluster for a while. We’re currently getting confirmation that S&P 500 earnings fell by around 4% year-over-year during the second quarter, which would reflect the fifth straight quarter of declines.

It has been the case that experts had forecast a sharp rebound in earnings growth during the second half of 2016 and accelerating in 2017. But even that story is deteriorating.

http://finance.yahoo.com/news/q3-2016-negative-earnings-growth-000000892.html

Earnings expectations for Q3 over Q3 is now -0.1% (it was +3.3% in early April, and +0.6% on June 30). For Q2 over Q2 its looking like about -4.0%

A Q3 over Q3 earnings decline would be 6 straight quarters of decline.

And the forward P/E ratio is even higher now than it was at the market peak in October 2007 -- the peak before the greatest stock market crash since 1929-1932.

http://l.yimg.com/ny/api/res/1.2/KLZfrBNmu7SjTz_AiB_iUA--/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9NzQ0O2g9NDgx/http://media.zenfs.com/en/homerun/feed_manager_auto_publish_494/b9c1d98c9abd22d686d2458b21d8434b

[IronLionZion]

7. Ask republican'ts how Obama destroyed the economy with record stock market and company profits

and if they tell you they haven't benefited from it, tell them they just proved that trickle down economics doesn't work.

I didn't come up with it. I saw the meme on social media.

[jtuck004]

8. President Obama signs $8.7 billion food stamp cut into law 02/07/14

President Obama signs $8.7 billion food stamp cut into law
02/07/14 03:40 PM—UPDATED 08/25/14 09:29 AM
By Ned Resnikoff

On Friday, President Obama added his signature to legislation that will cut $8.7 billion in food stamp benefits over the next 10 years, causing 850,000 households to lose an average of $90 per month. The signing of the legislation known as the 2014 Farm Bill occurred at a public event in East Lansing, Mich.

The food stamp cuts are one component of a massive omnibus bill which also includes billions of dollars in crop insurance and various other programs and subsidies involving American agriculture. Before he signed the legislation, President Obama praised it as an example of bipartisan problem-solving that would help create jobs and move the American...

The Farm Bill, he said, would “give more Americans a shot at opportunity.”

Appears to have worked, Look at how much more opportunity the bank$ter/jihadists and millionaires - like the President - got.

On the other hand, taking food out of the kids mouths will lead to more opportunity for nutritional deficiencies that can never be corrected, which will lead to less employability, more sickness, more likelihood of committing crimes, etc. Perhaps they, and the problems we we are dumping on folks in the future won't mind, will they?

Bet those hungry people really don't give a flying rat's ass about mail servers. I don't either.

I just love facts.

[GOLGO 13]

9. My 401k is in 100% beast mode.

Thanks Obama!