Markets still falling like whoa

[washparkhorn 9,939]

Markets down less than 1% now. 

Were the tax hikes on those making more than $1,000,000 a year in income already priced in?

[Bone3421 716]

Invest in California Moving Vans!!!

It's california.....so does anyone make electric moving vans?

[WithoutAClue 15,525]

I think during the campaign Biden promised to raise capital gains taxes but did not give a specific number.

[Hank_Hill 18,947]

Papa B go ahead and use some of that extra income to pay my student loans kthnx

[Bone3421 716]

Markets down less than 1% now. 
Were the tax hikes on those making more than $1,000,000 a year in income already priced in?

Everything's priced in...tax hike, hedge funds collapsing, banks closing across the us in bulk...all factored in, keep throwing that money in

[Storm the Field 5,304]

7 minutes ago, washparkhorn said:

Markets down less than 1% now. 

Were the tax hikes on those making more than $1,000,000 a year in income already priced in?

Possible that markets realized Presidents propose lots of shit, most of which doesn't become law. You think a single GOP or Manchin/Synema...etc. will agree to a 40+% tax rate?

Edited April 22, 2021 by Storm the Field

[TxTower 652]

The market reaction is rather tame for a proposed 43.4% tax rate

Market pros are saying it would be down 2,000 if the market thought it would pass the Senate.

There’s you answer.


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[washparkhorn 9,939]

1 minute ago, TxTower said:

Market pros are saying it would be down 2,000 if the market thought it would pass the Senate.

There’s you answer.

 

Thanks. Which market pros, if you can divulge?

This feels like a leaked trial balloon. 

[Cheeseweasel 26,438]

Just now, washparkhorn said:

This feels like a leaked trial balloon. 

Bingo. It's the Washington 2 step. Leak. Ask for 45. Settle for 30. Call it a win. Blame the other party. Rinse. Repeat.

[TxTower 652]

Bingo. It's the Washington 2 step. Leak. Ask for 45. Settle for 30. Call it a win. Blame the other party. Rinse. Repeat.

Yep


Sent from my iPhone using Tapatalk

[TxTower 652]

This feels like a leaked trial balloon. 

That’s exactly what this is. “Reports” said Biden would raise CG rate.


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[CDAK 216]

I don't see reporting on whether there (1) is a new rate for only people making over 1M or (2) are new rates across the board with the highest rate being 43.4

[Cheeseweasel 26,438]

3 minutes ago, CDAK said:

I don't see reporting on whether there (1) is a new rate for only people making over 1M or (2) are new rates across the board with the highest rate being 43.4

That's because there is no proposal. It's a leak "sources close to the White House have suggested..."

[CDAK 216]

Yeah, fair. I just thought the leaker would convey the entire rate sheet, rather than just the top line. 

[Coelenterate Fuccboi 13,134]

2 hours ago, CDAK said:

Yeah, fair. I just thought the leaker would convey the entire rate sheet, rather than just the top line. 

Leaker just wanted to buy some stocks.

[MonkeyDoughnut 10,373]

Yeah, raising vs doubling might be an issue

[Wally Fairway 5,598]

23 hours ago, Wally Fairway said:

never mind which, stocks only go up & there'll be a new record close next week

No matter FOMO and TINA still in the driver's seat

I'm not saying I was right, but I'm permitted away from being pretty fucking right. So I should sell before fate spites me, again.

Also, this talk of people selling billions in stocks with unrealized capital gains to post lower taxes is crazy, as those sale proceeds (net of taxes due) will go right back into the market. Creating another plunge & spike scenario.

Rinse, wash, repeat

 

 

[Cheeseweasel 26,438]

FOMOTINA always win.

 

Brrrt.

[Fudge Nuggets 19,242]

Just buy the fucking dip, assholes.

[washparkhorn 9,939]

Big day tomorrow for the markets with the Fed meeting. Stay frosty and good luck.

[Wally Fairway 5,598]

JPow needs to come out today and do his best Stevie Wonder and tell everybody - Don't you worry bout a thing, don't you worry bout a thing mama, Cause I'll be standing by your side 

Ohhh, ahhhh, brrrrrr, yeah baby cause I'll be waiting in the wings

 

[washparkhorn 9,939]

No change by the Fed. Transitory inflation at present. No taper or purchases, yet. No interest change, yet.  Still work to do, but the US is well positioned with our vaccination efforts on COVID. 

[Cheeseweasel 26,438]

2 minutes ago, washparkhorn said:

No change by the Fed

[washparkhorn 9,939]

Powell Presser - It's a rebound, not a recovery, yet.

 

[Wally Fairway 5,598]

Today send like a power hour day to close the week 

But I'm sure I've just jinxed that

 

 

[TxTower 652]

Disappointing April jobs report compared to expectations and previous two months gives the Fed some breathing room on rates.

But inflation is already in the system and it’s coming.


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[washparkhorn 9,939]

Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.

All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.

https://www.bloomberg.com/news/articles/2021-05-06/asia-stocks-set-for-muted-start-after-u-s-gains-markets-wrap

Spoiler

Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.

Spoiler

The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.

Spoiler

“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”

And the brrr goes on . . .

Edited May 7, 2021 by washparkhorn
Link added.

[KYHorn 17,246]

I think the interest rate concern is the main source. This gives feds some justification for leaving it.

[ChiTownDoc 21,191]

On 5/7/2021 at 2:45 PM, washparkhorn said:

Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.

All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.

https://www.bloomberg.com/news/articles/2021-05-06/asia-stocks-set-for-muted-start-after-u-s-gains-markets-wrap

  Reveal hidden contents

Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.

  Reveal hidden contents

The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.

  Reveal hidden contents

“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”

And the brrr goes on . . .

People are spending their dicks off.  Strolling down Michigan Avenue large groups are waiting in absurd lines to spend money wherever the hell they can.  Feels weird.  I still don’t think inflation becomes a huge problem.  But it does give me some pause...

[washparkhorn 9,939]

38 minutes ago, ChiTownDoc said:

People are spending their dicks off.  Strolling down Michigan Avenue large groups are waiting in absurd lines to spend money wherever the hell they can.  Feels weird.  I still don’t think inflation becomes a huge problem.  But it does give me some pause...

Michigan Ave. is going to Michigan Ave. - as the fine people of Willmette and Winnetka need somewhere to flaunt. But we need spending to get the system functioning across all sectors. That was a deep ditch:

[Incredulity 11,684]

Great, back to don’t look at brokerage account days.

[Parliament 14,357]

So what wasn't priced in today? And why is the Brrrrrrr machine broke down?

[52-80 19,276]

fucking markets still falling like whoa

[Cheeseweasel 26,438]

Welcome back to the 70's. I hope the music is as good.

[Trey3216 15,380]

1 hour ago, Parliament said:

So what wasn't priced in today? And why is the Brrrrrrr machine broke down?

some of the worst inflation data we've seen in 13 or 38 years, whichever you like.  

[52-80 19,276]

My account has been getting the NowThis treatment for the last 10 trading days.

[Parliament 14,357]

Welcome back to the 70's. I hope the music is as good.

And the drugs

[Wally Fairway 5,598]

1 hour ago, Parliament said:

3 hours ago, Cheeseweasel said:

Welcome back to the 70's. I hope the music is as good.

And the drugs

And musky beaver pelts

Sincerely, Brat

[Incredulity 11,684]

24 minutes ago, Wally Fairway said:

And musky beaver pelts

Sincerely, Brat

I think Brat is more Renaissance merkin kinda guy. Based on age.

[ChiTownDoc 21,191]

2 hours ago, Wally Fairway said:

And musky beaver pelts

Sincerely, Brat

Yeah that would be 1870’s.  Literally trapping beavers, that guy...

[Wally Fairway 5,598]

Question for the crew, are we at a point of market stagnation? 

Has the economy/market snapped its long climb from the pit; and does this mean we are back to trying to pick individual stocks?

Or am I being optimistic, and we really are in for a market correction?

[Cheeseweasel 26,438]

18 minutes ago, Wally Fairway said:

does this mean we are back to trying to pick individual stocks?

Whew. That seems risky without clear winners. 

I think we are in for a very volatile 6 -8 months. Corrections will come but are going to be impossible to predict as the world opens up.

I'm looking HARD at the international markets as a hedge against some of the correction. The US has been in a bear market for way too long but International has been bullish. 

[Coelenterate Fuccboi 13,134]

3 minutes ago, Cheeseweasel said:

Whew. That seems risky without clear winners. 

I think we are in for a very volatile 6 -8 months. Corrections will come but are going to be impossible to predict as the world opens up.

I'm looking HARD at the international markets as a hedge against some of the correction. The US has been in a bear market for way too long but International has been bullish. 

So many countries are dealing with another wave of COVID right now. 

[Johnny Chimpo 481]

I think it’s time to pivot towards international developed stocks, and begin thinking about accumulating emerging market stocks. 
 

I’m playing on value stocks as a theme given that they may succeed more in an inflationary environment and tend to pay dividends. I’m in the accumulation phase of my life but for now I’m gonna start leaning on VYMI and DVYE with my biweekly purchase programs. 
 

one thing to be aware of when buying emerging market index funds like IEMG is the weighting they hold towards Chinese tech. It’s something like 20% China tech. Lately their government has not been playing nice with their tech companies so I am happy to stay away from that. 

[Cheeseweasel 26,438]

25 minutes ago, Coelenterate Fuccboi said:

So many countries are dealing with another wave of COVID right now. 

Europe is opening up. That's the big area to look at.

[Coelenterate Fuccboi 13,134]

Just now, Cheeseweasel said:

Europe is opening up. That's the big area to look at.

That is my international play this summer/fall. Just hope this Asian shitshow doesn’t spread to Europe.

[Trey3216 15,380]

2 hours ago, Wally Fairway said:

Question for the crew, are we at a point of market stagnation? 

Has the economy/market snapped its long climb from the pit; and does this mean we are back to trying to pick individual stocks?

Or am I being optimistic, and we really are in for a market correction?

[Fudge Nuggets 19,242]

On 5/19/2021 at 7:16 AM, Cheeseweasel said:

he US has been in a bear market for way too long

Da fuq?  We were at all-time highs 18 days ago.

[ZB'Tejas 594]

2 minutes ago, Fudge Nuggets said:

Da fuq?  We were at all-time highs 18 days ago.

Penny stock bear market

[Wally Fairway 5,598]

I was going to bail on some of my high risk names before the close, but I chicken out; as I don't really have any good ideas as to where to put the reinvestment.

And this is how I feel about it