General Discussion

spanone

(135,844 posts) Wed Nov 23, 2016, 04:54 PM Nov 2016

the media is attributing stock market climb to trump

when the republicans last left the white house the dow was at 6,000.

the market has been on the upswing for EIGHT years.

this has shit to do with trump.

EDITED TO ADD:

Stop calling stock-market rise a ‘Trump rally’
Published: Nov 18, 2016 3:23 a.m. ET

The rise in stocks since the presidential election on Nov. 8 has been dubbed the “Trump rally” by traders, pundits and financial media—including MarketWatch. That’s nonsense, says one analyst.

While the Dow Jones Industrial Average DJIA, +0.31% powered to a string of all-time highs in the wake of the election, the benchmark S&P 500 index SPX, +0.08% was up 1.7% through Wednesday from the close seen on Election Day. The index added to gains Thursday, up 0.4%.

While that leaves the index not far off its all-time high set in August, it also means the most widely followed measure of the U.S. equity market “is now basically at the level where it spent most of the time from mid-July through early October. In other words, net-net, there really isn’t much to get excited about,” wrote Scott Wren, senior global equity strategist at Wells Fargo Investment Institute.

Stock-index futures tanked on election night as prospects for a Trump victory became clear. Losses were trimmed in the early hours on Wednesday after Trump delivered what was viewed as a conciliatory acceptance speech, with stocks soon pushing into positive territory after the opening bell.

http://www.marketwatch.com/story/stop-calling-stock-market-rise-a-trump-rally-2016-11-17

10 replies

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the media is attributing stock market climb to trump (Original Post) spanone Nov 2016 OP

Probably. Igel Nov 2016 #1

of course they are hibbing Nov 2016 #2

Actually TDBroke Nov 2016 #3

When President Obama took office on Jan. 20, 2009, the Dow Jones Industrial Average slumped to 7,949 spanone Nov 2016 #9

It probably is due to Trump. athena Nov 2016 #4

And when this irrational exuberance comes down... Hugin Nov 2016 #6

I think we're in for a new Great Depression in two or three years. athena Nov 2016 #7

Of course it's gone up. Businesses smell profits from Trump's "the market can Nay Nov 2016 #5

That does have something to do with it, investors are expecting interest rates to raise doc03 Nov 2016 #8

On election night, the media was attributing the stock market drop to trump as well. hughee99 Nov 2016 #10

Igel

(35,320 posts)

1. Probably.

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:00 PM

Nov 2016

But then again, the evening of 11/8 there was a stock-market sell-off overseas, and first thing Wednesday morning causality was clear and the station I listen to was saying how there'd be a drop in the US market.

Wednesday evening there was a rise in the stock market, and the guy who claimed causality was obvious in the morning waved away any suggestion that the US stock market went up because of Trump, and sneered as he did so. Instead, he wanted to focus on the obvious causality in what bond interest rates had done.

First "there's causality" then "we can't even think of causality" followed up by "hey, look, there's causality over here!"

It pays to be cautious when we see things we already knew to be true. The initial claims of causality ignored a lot of factors, and the later claims of non-causality did the same. I often find that particular economic broadcast amusing for its closed-mindedness even as it says it's impartial. Not my job to take the 8' x 4' piece of plywood out of that guy's eye, though.

hibbing

(10,098 posts)

2. of course they are

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:01 PM

Nov 2016

Someone once posted a graph on here that overall, the market goes up more under Democratic presidents than when the other party is in power.

Peace

TDBroke

(25 posts)

3. Actually

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:04 PM

Nov 2016

Last edited Wed Nov 23, 2016, 05:53 PM - Edit history (1)

This was the market open:

8,279.63

spanone

(135,844 posts)

9. When President Obama took office on Jan. 20, 2009, the Dow Jones Industrial Average slumped to 7,949

Reply to TDBroke (Reply #3)

Wed Nov 23, 2016, 05:34 PM

Nov 2016

i stand corrected....since then it has gone over 19,000. republicans suck with our economy. we have seen an uptick of over 11,000 points

http://www.investopedia.com/ask/answers/101314/where-was-dow-jones-when-obama-took-office.asp

athena

(4,187 posts)

4. It probably is due to Trump.

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:06 PM

Nov 2016

It will rally for a while (possibly up to two years), until it tanks because of Trump's policies. Krugman wrote about this last week, I believe.

Hugin

(33,164 posts)

6. And when this irrational exuberance comes down...

Reply to athena (Reply #4)

Wed Nov 23, 2016, 05:27 PM

Nov 2016

It's going to come down... HARD! (Especially, on the new peon class.)

athena

(4,187 posts)

7. I think we're in for a new Great Depression in two or three years.

Reply to Hugin (Reply #6)

Wed Nov 23, 2016, 05:30 PM

Nov 2016

History will repeat itself. The good news is that the Depression will be followed by a big blue wave; the bad news is that there will be a great deal of suffering before things start to get better.

Nay

(12,051 posts)

5. Of course it's gone up. Businesses smell profits from Trump's "the market can

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:09 PM

Nov 2016

do no wrong" attitude. That'll change in a year or two, when things really start turning to shit.

doc03

(35,348 posts)

8. That does have something to do with it, investors are expecting interest rates to raise

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:32 PM

Nov 2016

so bond values are dropping. Investors are moving out of the bond market into equities so stocks are going up. My retirement fund has actually dropped
because I am about 56% into fixed income.

hughee99

(16,113 posts)

10. On election night, the media was attributing the stock market drop to trump as well.

Reply to spanone (Original post)

Wed Nov 23, 2016, 05:35 PM

Nov 2016

This sort of thing makes it difficult to take the media's word for it when they attribute stock market activity to something.

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