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Economy
Stocks Just Had Their Best Week in Decades
2020-04-10
[Breitbart] The bulls broke loose in financial markets this week and gored the coronavirus.

The Dow Jones Industrial Average rose a mild 1.2 percent on Thursday, bringing its weekly gain to around 12.7 percent. That makes it one of the best weeks ever for the blue-chip index.

The S&P 500 climbed 1.45 percent for a weekly surge of 12.1 percent. That is the best week for the S&P since 1974. The Nasdaq’s 0.77 percent gain brings the week to 10.6 percent, the best week since 2009.

The Russell 2000 soared 4.62 percent on Thursday for a weekly gain of 18.5 percent.

Oil had a wild ride. Brent crude jumped up to 12 percent higher in the morning, only to fall all the way back to close down 2.71 percent for the day.

American stocks will be closed for Good Friday tomorrow.
Posted by:Besoeker

#8  And think about the FDIC for a moment. There is no way they can guarantee covering the funds of depositors in case of bank failures given what the FDIC has "in the bank" compared to what all of us have in our banks. But given this recent activity by the Fed, if they should even think to pull some kind of bail-in, then all Hades should break loose.
Posted by: Clem   2020-04-10 13:59  

#7  Rumor they are going to relax federal requirements for Banks to have capital to guarantee annuties..?

So much for those contracts if true.
Posted by: crazyhorse   2020-04-10 10:55  

#6  #5 A couple of years ago I would have said that you buy government paper for the credit quality. But today I hear tell that Johnson & Johnson and Microsoft actually have higher credit ratings than the US gummint (AAA vs. AA). Which tells you something about where all this deficit spending is going to take us.
Posted by: Matt   2020-04-10 10:18  

#5  Good point. Really, who in their right mind would buy CD's or even gov't bonds at or near zero (or, in Europe, negative rates)? Not like the old days when retired people relied on their 5% interest at their Savings & Loan.
Posted by: Clem   2020-04-10 09:40  

#4  A lot of companies are going to report first quarter earnings in the next couple of weeks, and those are going to make Rosie O'Donnell look like Ingrid Bergman. On the other hand, if CD rates are close to zero and Chevron's dividend is 6%, you have to think about it.
Posted by: Matt   2020-04-10 09:27  

#3  Some people thought the stock market was overvalued before the corona crisis, so imagine how overvalued it is now with earnings and revenue in the toilet with things shut down.
Posted by: Clem   2020-04-10 05:01  

#2  Eventually we'll realize it's all make-believe money, at least for the average person.
Posted by: Glenmore   2020-04-10 02:53  

#1  I drink in regret and I drink in self-satisfied congratulation.

So far, my liquor bill is holding steady.
Posted by: Anomalous Sources   2020-04-10 01:42  

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