I am sick of the talking heads on the news telling me how great "the economy" is because the stock market is soaring and unemployment is low.
Fist, "the economy" is a euphemism for "rich peoples' yacht money".
Second, I don't own any stocks. I don't know anyone who owns stocks.
The top 1% own more than half of all the stocks.
Third, unemployment being low is just a way of saying wages are so low and cost of living is so high that grandpa and grandma had to end their retirement and go back to work to help pay the rent.
I don't care about stocks.
Tell me the average rent is 30% or less than the monthly wages for a single person working for minimum wage.
Tell me grandpa can go back to fishing and and building bird houses because the bills are covered.
Tell me families don't have to choose between the electric bill and groceries.
If the US #stockmarket is exemplary of trends across the world (which some might argue it is), then the fact that in 2023, finally passive (index) investments funds have more money invested in them than active funds, tells us something about people's faith in the judgment of investment bankers & brokers.
But, here's a key Q.; at what level does the domination of passive funds become unsustainable? There needs to active trading for the indexers to follow; how many is not enough to drive markets?
#Tesla’s Profit Fell 55%, Adding to Concerns About Its Strategy
The first-quarter results will very likely fuel worries that competitors will continue grabbing a bigger slice of a #market dealing with slowing #ElectricCar sales.
The S&P 500 crossed above its January 2022 peak after weeks of wavering. Investors have been buying stocks after homing in on signals that the Fed’s campaign of raising interest rates is over.
I have 2 #TikTok vids for you today. Are we ready to take down Kelloggs? Fuck! YES! I'M READY! #TakeDownKelloggs#BoycotKelloggs
April 1st can't come fast enough. But tbh, I've already started cutting out most major brands, and #Nestle was the first in my hatred stomp...
As an #engineer, if I had any other #data series that was pretty smooth for several years and then started getting very spiky month to month, I'd look for some underlying malfunction.
Trump is so focused on himself that he wants Americans to lose their jobs, their savings, their 401ks. He wants their retirement accounts to be shattered over the next 12 months. Trump is that desperate — Joe Scarborough #quotes#quote#Trump#StockMarket#Bidenomics#VoteBlue#Elections2024
New research (quoted by the FT) suggests that most #stockmarket price movements (around 70%) are related to macroeconomic news, not anything to do with the 'fundamentals' of the #corporation concerned.
So, #financialservices professionals are actually not as interested in the firms they invest in (or advise on) as they are the daily financial news (and specifically fiscal announcements by the Govt.).
Yet more evidence that they're not being paid for expertise, but more for social position...
While we are talking about bullshit. Let's convert the #stockmarket to once-per-second call auctions. High frequency trading is a huge waste of resources and incentivizes a lot of technological bullshit to get millisecond or even hundred microsecond latency for no worthwhile social purpose. I have yet to hear any convincing argument that a call auction every 1 second would be worse than the bullshit we have now. In fact it would seem to be unambiguously better.
The USD/JPY gained downward momentum after the U.S. Federal Reserve's FOMC Statement, indicating a change in monetary policy. Interest rate cuts are now expected in spring 2024. The currency pair is currently trading near 141.800, testing values last seen in late July. Traders should be cautious as conditions remain volatile. Breaking below 143.000 and sustaining values below would signify further downward momentum. Support levels to watch are 142.000, 141.500, and 141.000.
Stocks Climb to Record, Lifted by Big Tech and Rate Cut Hopes (www.nytimes.com)
The S&P 500 crossed above its January 2022 peak after weeks of wavering. Investors have been buying stocks after homing in on signals that the Fed’s campaign of raising interest rates is over.