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Old 08-29-2018, 04:47 PM   #1
rufuspaul
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Default Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

https://www.nytimes.com/reuters/2018...sa-stocks.html


Quote:
investor sentiment was stoked by optimism over ongoing trade negotiations.


Worst President Ever!
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Old 08-29-2018, 04:59 PM   #2
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Looking at these kinds of reports makes me wonder if people read the history of record highs.

Dont take my word. Go look foryourself and see how often there are record highs and how few presidencies dont have them. There have only been like 2 runs without record highs in 100 years. 1930 to 1953 is the only long one. The country was a little busy.

That aside?

Obama record highs. Second Bush. Clinton. First Bush. Ronald. Carter in some ways but not all(not the dow...he did have record highs in Nasdaq). Ford had a bad run. Nixon hit highs. And LBJ. And Kennedy. And Eisenhower. Truman didnt but it was coming out of WW2.

Who do you think is the worst president ever?

Whoever it is...if it wasnt during the great depression they have some form of record high stock market closings to their name. William McKinley had like 70 even with being killed in his second term.

The usual tactic is to credit the president if hes on your team and ignore it if he isnt. Really all we have is a few new numbers that didnt exist in the past or were measured very differently that people pull out as an "A ha! But how about ____" as if we really have accurate job and wage numbers from 1893.

Its hard to judge presidents by these numbers really. It all comes down to if you support the guy...you find a way for them to matter. He has to be doing it. If you dont support it? Its the power of the American spirit not that bum in DC.
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Old 08-29-2018, 05:15 PM   #3
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

artificial.

Quote:
Companies set to buy back $1 trillion worth of shares this year, and that should keep market afloat, Goldman says

Amid the fanfare of Apple reaching $1 trillion in market valuation, investors may be missing another more important milestone of the same dollar level.

Namely, U.S. companies appear poised to eclipse the $1 trillion mark in share buybacks this year, a pivotal record that will keep the stock market going even as many retail investors are beginning to fear equities, according to a Goldman Sachs analysis for clients.

Wall Street already had been expecting a potentially history-making year for repurchases, but Goldman anticipates that the corporate appetite will be even stronger than anticipated particularly with August being the biggest month traditionally for buybacks.

"Corporate repurchases remain the largest source of demand for shares," wrote David Kostin, chief U.S. equity strategist at Goldman

Quote:
What did corporate America do with that tax break? Buy record amounts of its own stock

The White House promised '70 percent' of the tax cut would go to workers. It didn't.

The Republican tax reform package that was supposed to raise wages and spur hiring has instead funded a record stock buyback and dividend spree, benefiting investors and company executives over workers.

President Donald Trump signed the bill in December last year, saying the corporate tax cut would make it favorable for companies to bring back into the U.S. cash stashed in foreign operations.

"More than 70 percent of this [tax cut] will be returned to workers," said White House Press Secretary Sarah Huckabee Sanders at a January press conference after the bill came into effect.

However, companies have instead used the extra cash to spend billions of dollars buying back their own stock, boosting the value of shares held by investors. Buybacks reduce the number of shares on the market, immediately increasing the value of the shares that investors already hold.



eerie how similar all the economic indicators are to 2007.
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Old 08-29-2018, 05:21 PM   #4
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Lefties coming in and being negative despite the optimism of the NYT article. Probably didn't even read it.
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Old 08-29-2018, 05:30 PM   #5
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by rufuspaul
Lefties coming in and being negative despite the optimism of the NYT article. Probably didn't even read it.

yeah, posting facts = being negative.

we have record buybacks inflating stock prices/compensation for major share holders and ceos... meanwhile entire agricultural industries need multi billion dollar bailouts just to stay afloat right now. real wages are in decline.

i know, i know. too much negative energy. apologies.

only positive vibes. i'm glad jeff bezos and apple's board will make a fortune this year from the buyback hustle while the soybean industry is in a depression and needs billions in bailout cash thanks to the gawd's pointless trade war. great stuff.
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Old 08-29-2018, 05:39 PM   #6
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

The article is positive, it doesn't mean its 100% correct. My main issue and this is the main issue when you constantly hear about black unemployment and how the numbers are lower but it neglects to mention that the numbers are still very high for the industries that matter, like the tech industry.

http://fortune.com/2018/06/08/tech-c...black-workers/

Quote:
Among 8 of the largest U.S. tech companies, the portion of black workers in technical jobs rose to 3.1 percent in 2017 from 2.5 percent in 2014, according to data compiled by Bloomberg News. The latest data from the U.S. government, released in 2016, reinforces the point: Blacks made up 7 percent of U.S. high-tech workforce, and just 3 percent of the total Silicon Valley workforce.

The problem has stubbornly remained, even as the representation of other industry minorities — most notably women — has crept up. While there’s a disproportionately high number of South and East Asians who work in the tech industry, they’re the least likely to attain leadership roles, according to the Ascend Foundation, a group focused on diversity in tech. “It’s a very complex and comprehensive problem,’’ said Allison Scott, chief researcher at the Kapor Center for Social Impact, who has studied the issue. “Some tech companies have thought, if I can bite off a manageable thing — gender diversity — then I can get to race, and that’s a really problematic way to think about it.’’

The numbers aren’t just statistics to black employees inside these companies — they’re an unsettling hum underlying their everyday work. One black employee at Facebook, who asked not to be identified because he’s not authorized to speak publicly, said he was “very lonely” at the office. He participates in a black employee resource group, but said he doesn’t have mentors or sponsors at Facebook, even though there are diversity advocates there.

Thats just a piece of the article but it honestly was very easy to find the article because this is a known issue, well in the black community it is. There's tons of articles about it.

https://www.forbes.com/sites/korihal...ship-declines/
https://www.nytimes.com/2016/02/26/u...y-in-tech.html
https://www.americanprogress.org/iss...ing-diversity/
https://www.usatoday.com/story/tech/...anic/14684211/

Me personally, I have a few certifications in the PC field and have NEVER gotten a job with any of them. Maybe I was applying to the wrong positions, maybe interviewing with the wrong companies. But I could not even get hired for a helpdesk position which you only need an A+ certification for. I've since given up in that field, I don't have the love for PC's anymore or working on them but thats just my example. TBH, my first job in the field at all was when I was working at a call center a few years ago. There was one IT guy named James, a white dude and he's really cool. But he's the kind of the guy who doesn't get along with a lot of people because he can be a bit of a jerk but I got along with him immediately because of our shared interests in video games, computers, and he's a smart guy so he could conversate with me about any issue and we became pretty close friends. He's the one who went to management and asked them if I could be his assistance. Mind you this is a call center where EVERYONE is on the phone. There weren't people lucky enough to be able to get off the phone for the entire day like I was. But my point is, if that hadn't happened, I still wouldn't have any professional experience in the field. I just caught a lucky break because honestly, I'm a cool ass dude, cool as a fan.

I'm not saying this is the president's fault or that he's responsible for it. What I am saying is that if he's going to spout off numbers about black unemployment, tell the ENTIRE truth, not just the part that makes his followers happy.

And to a larger extent, when we talk about white supremacy and what it means, this is what it means. It doesn't mean that every white person in the world is racist. It means that every environment the average black person is in, other than their own neighborhood or black hosted event, is owned, controlled, and dominated by white people for a multitude of reasons and its not just because white people have conquered everyone else. Black folks have responsibility in that too.

That is the simple truth that we get across but even that gets shot down because people want to make up their own truth and ignore what the other side is saying simply because of pride, imo. Which leads to us complaining more and more about the issue which trust me, EVERYONE gets tired of. People get tired of complaining and people get tired of hearing it. But I honestly just don't think many white folks understand or know what white supremacy is. Its different than when someone refers to someone as a white supremacist, who is absolutely a racist person. Supremacy is an entire system thing.

The issue with that article is that its just numbers with no context but I believe they are positive. Just need a little context.
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Old 08-29-2018, 05:53 PM   #7
Patrick Chewing
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by rufuspaul
Lefties coming in and being negative despite the optimism of the NYT article. Probably didn't even read it.


LOL these guys have like 10 or 20 links and pie charts just waiting at the ready whenever an opportunity presents itself. F'n robots.
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Old 08-29-2018, 06:11 PM   #8
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by Patrick Chewing
LOL these guys have like 10 or 20 links and pie charts just waiting at the ready whenever an opportunity presents itself. F'n robots.

The ISH economists.

I know it came as a huge disappointment to these bozos that 2nd quarter GDP was revised upward too.
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Old 08-29-2018, 06:17 PM   #9
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by SomeBlackDude
only positive vibes. i'm glad jeff bezos and apple's board will make a fortune this year


Yes because only rich white guys can benefit from a booming economy and a strong bull market.
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Old 08-29-2018, 06:23 PM   #10
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by Kblaze8855
Looking at these kinds of reports makes me wonder if people read the history of record highs.

Dont take my word. Go look foryourself and see how often there are record highs and how few presidencies dont have them. There have only been like 2 runs without record highs in 100 years. 1930 to 1953 is the only long one. The country was a little busy.

That aside?

Obama record highs. Second Bush. Clinton. First Bush. Ronald. Carter in some ways but not all(not the dow...he did have record highs in Nasdaq). Ford had a bad run. Nixon hit highs. And LBJ. And Kennedy. And Eisenhower. Truman didnt but it was coming out of WW2.

Who do you think is the worst president ever?

Whoever it is...if it wasnt during the great depression they have some form of record high stock market closings to their name. William McKinley had like 70 even with being killed in his second term.

The usual tactic is to credit the president if hes on your team and ignore it if he isnt. Really all we have is a few new numbers that didnt exist in the past or were measured very differently that people pull out as an "A ha! But how about ____" as if we really have accurate job and wage numbers from 1893.

Its hard to judge presidents by these numbers really. It all comes down to if you support the guy...you find a way for them to matter. He has to be doing it. If you dont support it? Its the power of the American spirit not that bum in DC.

Chances are your most hated President on has a record high.
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Old 08-29-2018, 06:31 PM   #11
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by rufuspaul
Lefties coming in and being negative despite the optimism of the NYT article. Probably didn't even read it.

I personally think it's great that the market is doing well; my portfolio did quite well today. However, I understand the economy way too well to hang my confidence solely on the markets. As others have pointed out, we've seen record spending by corporations on stock buybacks, but little in the way of investments in wage increases and research. When we get there, we can really celebrate.
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Old 08-29-2018, 09:27 PM   #12
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

A stock market rally is nice but at what cost to the environment and the working class? Read through these and analyze whether each should have been delayed or rescinded. Many were sensible and rescinding only boosts profits of the industries being regulated so a surge is not surprising.
https://www.brookings.edu/interactiv...the-trump-era/
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Old 08-29-2018, 09:53 PM   #13
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by rufuspaul
Lefties coming in and being negative despite the optimism of the NYT article. Probably didn't even read it.

was it not your intention to bait them into negative replies?
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Old 08-30-2018, 09:18 AM   #14
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by diamenz
was it not your intention to bait them into negative replies?


No need for bait. Any good news from the current administration's economic policy brings on the doom and gloom from the left.
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Old 08-30-2018, 09:41 AM   #15
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Default Re: Tech leads Wall St. Rally, NASDAQ and S&P hit record highs

Quote:
Originally Posted by rufuspaul
Yes because only rich white guys can benefit from a booming economy and a strong bull market.


the wealth gap has exploded since the bull rush rebound post -08 collapse.

So yes... that has been the case. You are a shining example mr. socialism.
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