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| Economy |
| Dow Jones hits another record high as weekly US unemployment claims drop |
| 2021-05-07 |
| [MAIL] The Dow Jones Industrial Average soared by 150 points to an all-time high of over 34,500 on Thursday as the US recorded its lowest number of unemployment claims since COVID-19 began. Thursday afternoon saw the Dow hit 34,521.15 - up from a close of 34,245.11 the day before, CNBC reported. The Dow Jones is an index which displays the values of stocks of 30 of the United States' most successful publicly-traded companies. They include Apple, Boeing, McDonald's and 3M, with a rise in their value seen as the bellwether of a healthy economy. But the other major US industrial averages - the S&P 500 and Nasdaq have both suffered losses in recent days, suggesting that further economic trouble could still be in store. The gains came on the heels of this morning's news that US unemployment claims fell from 590,000 to 498,000 last week, according to Labor Department figures released Thursday. That is the lowest number of unemployment claims since the pandemic sent the American economy into a tailspin last March. |
| Posted by:Besoeker |
| #4 NN2N1 there’s no inventory for houses here in metro ATL. My wife and I are getting offer daily for our little bungalow in Brookhaven. We are approaching $650k for 2 bed 1 1/2 bath 1300sq ft. And that’s so they can knock it down and build a McMansion |
| Posted by: Beavis 2021-05-07 16:33 |
| #3 The March 10 2000 Dot.com bubble and the USA housing sub-prime Great Recession from 2007 to 2009+ cost me and too many others dearly in our IRA's and Retirement accounts. So I'm not losing my A$$ a 3rd time. I honestly feel, we are looking at a Housing bubble with the 25%+ inflated housing prices, now along with DC Liberal spending quicker than the US Treasury/Federal Rev. can print it. So I feel we are looking at a serious correction and without the Federal money this time (TARP) to bail the US economy out. |
| Posted by: NN2N1 2021-05-07 16:00 |
| #2 I think people around the world are driving the market up because their banana republics are not working well. |
| Posted by: Blackbeard Barnsmell6454 2021-05-07 13:10 |
| #1 Lot of volatility in the market. Hard to make a buck in the market. One can lose their shirt in a NY minute. Is this a 1929 redux? |
| Posted by: JohnQC 2021-05-07 10:20 |