The US Economy

[Kryptonic]

So the Fed finally cut the rates by 50pts.... Decent cut and has really sent the market into a nice rally. The stock market has been waiting a long time for this cut and glad to see the the Fed not cave to Wall Streets demands and doing whats right for the whole country in their quest to get inflation under control.

Stock market today: Dow, S&P 500, Nasdaq surge as Fed fires up rally
https://finance.yahoo.com/news/live/sto ... 52149.html

On the political side of the market... Wall Street looks to be positioning more for a Harris win with it's investments in solar and electric vehicles stocks doing very well. You know who's stock isn't doing so well? DJT.... On a day that the whole market is rallying, his stock is currently down 4.5%... That's a decent clip to be down to begin with, let alone on a day when EVERY other stock is rallying.

[Mori Chu]

Glad they cut the rates; hopefully that helps boost the economy. As for that $DJT stock, now that Trump himself is back on Twitter/X, there isn't much reason to visit his MAGA social media swamp, so I assume the stock will keep going down fast.

[Kryptonic]

Glad they cut the rates; hopefully that helps boost the economy. As for that $DJT stock, now that Trump himself is back on Twitter/X, there isn't much reason to visit his MAGA social media swamp, so I assume the stock will keep going down fast.

It's a mixture of things for the DJT stock... it has some characteristics of a meme stock because people are buying it because its Trump related and not because of it's Price/Earnings which is usually a good measuring tool when trying to get a value on a stock. Just look at the stocks price on July 12th before his Biden debate:

https://www.google.com/finance/quote/DJ ... &window=1Y

As soon as whooped Biden, the stock went from $30/share to $40/share. It's been cratering since and is around $14.70/share. Yowzers.

[Cap]

It closed at 66.22 on March 27.

Google says the 52-week high is 79.38, even though nothing higher than 66.22 appears in their graph of closing prices. Must have been a (really, really big) intraday bubble.

ETA: Yup. March 25 closed at 49.95. On March 26 it hit 79.38 before closing at 57.99.

Note: March 26 was the first day it traded as DJT. Before that it was DWAC.

[Kryptonic]

It closed at 66.22 on March 27.

Google says the 52-week high is 79.38, even though nothing higher than 66.22 appears in their graph of closing prices. Must have been a (really, really big) intraday bubble.

ETA: Yup. March 25 closed at 49.95. On March 26 it hit 79.38 before closing at 57.99.

Note: March 26 was the first day it traded as DJT. Before that it was DWAC.

Know anyone that sank any money into that con? I'm betting the same people who bought DJT are the same people who bought the shoes, the bible and the crypto. I'm just waiting for him to sell magic beans....

[Mori Chu]

I'm sure a lot of the money in $DJT is foreign investors who don't really mind that it's going down; they wanted a way to basically just put money in Trump's pocket, and so they did.

[Cap]

I'm sure a lot of the money in $DJT is foreign investors who don't really mind that it's going down; they wanted a way to basically just put money in Trump's pocket, and so they did.

It not really putting money in Trump’s pocket if the value collapses before Trump can sell.

[Mori Chu]

I get that, but he still gets plenty of money. He spent essentially $0 to start the company, so anytime he sells, it's pure profit. And he could still make literally billions of dollars by selling it this fall. That is a huge deal for him, given that he claims to be a billionaire but is often over-debt-leveraged and cash-poor.

https://apnews.com/article/donald-trump ... f915c5d79c

[Mori Chu]

Dang, the Great Biden Depression continues! When is the economy ever going to recover?

[Nodack]

I know I probably posted this before. There is so much disinformation about everything including the economy during an election cycle. This interview is with the woman who is the head of the European FED. It’s called something else I can’t remember but that isn’t important. The important part is her unbiased take on the world’s economy. It’s like watching a professor on economics talk and not some politician trying to score points.

[Nodack]

Opinion: America is doing better than the media or our politicians tell us. Here’s proof.
https://www.marketwatch.com/story/washi ... f-f4aba595