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from the how-are-they-doing-over-the-entire-year? dept.
"The Dow rose more than 1,080 points, or nearly five percent, marking the first time in history the exchange rose more than 1,000 points in a single day of trading. The S&P 500 climbed more than 100 points, or about five percent, while the tech-heavy Nasdaq Composite rose more than 360 points, or nearly six percent.
All three major exchanges posted their largest single-day point increase on record." foxbusiness.com/markets/stock-futures-trade-cautiously-on-political-concerns
Our Country is doing very well. Because we are finally putting America First.
A report at Bloomberg offers a less rosy perspective:
Just one of the S&P 500 members fell on Wednesday, when the Dow Jones Industrial Average jumped more than 1,050 points for its biggest-ever point gain. Consumer shares paced the rally, with Amazon.com Inc. jumping 9.5 percent on record holiday sales. Each member of the FAANG[*] cohort rallied at least 6.4 percent. Nike and Apple rose more than 7 percent.
Yet it's still a horrible month for U.S. stocks, with the S&P 500 down almost 11 percent. Japan's Topix is even worse, with a 14 percent slide. Emerging markets have done better, thanks to expectations of less aggressive tightening by the Fed. The Shanghai Composite is off less than 4 percent, for example. And China's yuan, along with most major Asian currencies, is up against the dollar this month.
[*] FAANG: "FAANG is an acronym for the market's five most popular and best-performing tech stocks, namely Facebook, Apple, Amazon, Netflix and Alphabet's Google."
(Score: 1, Insightful) by Anonymous Coward on Thursday December 27 2018, @10:01AM (21 children)
The entire market is controlled by what the fed does at this point. There needs to be a crash down to at least 2008/2000 bubble *highs*, if not lows, before things are normal again. For that to happen, all these unprofitable, low/negative free cash flow companies that have grown huge only via borrowing are going to blow up (eg, netflix, amazon).
If it doesnt happen we are going to see the last fed rate hike in the next few I years and a final blowoff bubble as people expect hyperinflation. I think we may even see stuff like people preferring to trade stocks against bitcoin because it will be perceived as more stable than the dollar or other fiat linked to it.
So, stock market can go extreme in either direction...
Also, the dow is retarded. What kind of index weights stocks based purely on the stock price, so a company with 1 share issued at $100 is 10x more important than one with 100 shares issued at $10?
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:04AM
Also, candidate Trump explained exactly what was going to happen: https://m.youtube.com/watch?v=4xn9jLy_TB4 [youtube.com]
So he knows whats going on.
(Score: 2) by The Mighty Buzzard on Thursday December 27 2018, @11:48AM (9 children)
Never. Gonna. Happen.
Bitcoin is more stable than warm nitroglycerine but only just barely.
My rights don't end where your fear begins.
(Score: 1, Interesting) by Anonymous Coward on Thursday December 27 2018, @12:13PM (4 children)
Most people would prefer gold but its too difficult to transfer online. Bitcoin is the solution. Major brokerages and exchanges in the US (fidelity/nasdaq) are working on adding bitcoin/fiat trading already. Once that is in place why not let people trade directly to stocks? Make crypto-dollar-stock transparent to the user...
https://www.ccn.com/breaking-fidelity-is-quietly-building-a-cryptocurrency-exchange/ [ccn.com]
https://www.nasdaq.com/article/fidelity-nasdaq-ventures-invest-in-cryptocurrency-exchange-erisx-20181204-00506 [nasdaq.com]
So Id even say my assessment about that happening was too pessimistic.
(Score: 2) by zocalo on Thursday December 27 2018, @12:25PM (3 children)
Some are, others have cooled on the idea, and time will tell how many actually deliver. Either way, they're not doing this because they love Bitcoin and want it to go to the moon, they're going it because when it comes to skimming off transaction fees volatility is good and BTC has that in spades. Just like they don't give a damn what the value of any given stock is, they don't give a damn what the value of BTC is either; as long as there is a high volume of trades for the resulting tranaction fees to make a decent profit, they're happy - and you can pretty much guarantee that those transaction fees will be collected in USD.
UNIX? They're not even circumcised! Savages!
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @12:36PM
Not that it matters (they are doing it to make money), but fidelity's CEO explicitly said she loves bitcoin:
https://www.coindesk.com/fidelity-ceo-talks-love-bitcoin-blockchain-will-change-markets [coindesk.com]
https://cointelegraph.com/news/i-love-bitcoin-ethereum-says-fidelity-ceo-as-company-finalizes-coinbase-integration [cointelegraph.com]
So, I think people here are out of touch regarding whats happening in this scene. There is still tons of unrealized potential and excitement.
(Score: 0) by Anonymous Coward on Friday December 28 2018, @04:11AM (1 child)
If you think Bitcoin is in trouble now, just wait until Wall Street gets in on the game.
The big movers (or whales, or whatever they call) would be smart to get out of Bitcoin as soon as the pros get in.
(Score: 0) by Anonymous Coward on Friday December 28 2018, @03:17PM
Why is that?
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @01:38PM (3 children)
Stability of Bitcoin, much like the dollar, has to do with the fact that very few own majority of it.
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @02:09PM (2 children)
Whose fault is that? People only have themselves to blame when it comes to bitcoin. Even still it is cheap as hell compared to what is coming when the ETF/etc come out.
People will always whine about the distribution no matter what chances you give them. Most follow the herd instinct rather than be an early adopter, so they will always tend to sell low and buy high, ie 'miss out'. This is also exactly why bitcoin had the most fair distribution, and gov coins will never take off (endless commitees will discuss what is 'fair').
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @07:50PM (1 child)
Bitcoin is a failure based purely on the energy it wastes and the ability to manipulate the market if you get majority hashing power. I don't keep up on the crypto markets, what "coin" has better attributes?
(Score: 1, Funny) by Anonymous Coward on Thursday December 27 2018, @10:18PM
Bitcoin doesnt waste any energy. The energy it uses is less than the current banking system, is around what gets wasted by reddits recent telemetry update, is a rounding error on what gets wasted due to power plant and grid inefficiencies, and is totally insignificant compared to what gets wasted due to having an inflationary reserve currency.
(Score: 5, Touché) by DeathMonkey on Thursday December 27 2018, @04:26PM (8 children)
low/negative free cash flow companies that have grown huge only via borrowing are going to blow up (eg, netflix, amazon).
Amazon profit tops $2 billion for the first time [cnn.com]
Netflix is growing at a stunning rate — and so is its profit ($358 million per quarter) [marketwatch.com]
If you can't get basic facts correct why should we trust your analysis?
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @04:35PM (2 children)
Fake news bro, you gotta stop with it:
https://www.quora.com/Is-Amazon-profitable [quora.com]
https://seekingalpha.com/article/4212185-netflix-great-growth-cash-flow-questions-linger [seekingalpha.com]
(Score: 5, Informative) by DeathMonkey on Thursday December 27 2018, @04:46PM (1 child)
That's one hell of a rebuttal!
Is Amazon Profitable:
So, uh, yeah.....they've only been profitable for the last 17 years. What losers!
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @04:53PM
Amazon itself is not going to be the "losers". They have played this perfectly, but looks like the fed has decided their fun is over.
(Score: 5, Insightful) by edIII on Thursday December 27 2018, @08:55PM (4 children)
Not to mention the utter bullshit in the first place. It's easy to have huge gains when you wipe out 10 years of growth overnight. We're not going to discuss this intelligently, like a range of 1 year, but 24 hours of correction attributed to Fearless Leader of course.
Whole article and submission is complete fucking crap, as if those huge gains were on top of a stable market already doing well. The fact they're posting the largest gains ever, after some of the biggest losses ever, tells me there is weakness, confusion, and panic, not reasons to celebrate.
The trade wars are still just beginning, and we all know Orange Anus is going to dig his heels in just as the Democrats will, and the government shutdown is going to continue. Might even continue all the way up the point he is forced to leave office whining like a toddler who needs a nap.
Technically, lunchtime is at any moment. It's just a wave function.
(Score: 5, Funny) by Azuma Hazuki on Thursday December 27 2018, @09:23PM (3 children)
Begun, the Trade Wars have. Easy to win, they are not. Fucked, we are.
I am "that girl" your mother warned you about...
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:26PM (2 children)
The trade war has been going on for a long time, the only the that changed is Trump brought it to your attention:
http://www.gata.org/files/USEmbassyBeijingCable-02-08-2010.txt [gata.org]
Get off that fake news...
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:30PM (1 child)
Those are more disputes, the skirmishes leading up to the Big Aggression.
(Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:59PM
It is the ongoing trade war that people have been talking about for decades. The only new thing is Trump is forcing the fake news to talk about it.
(Score: 0) by Anonymous Coward on Friday December 28 2018, @04:36AM
This neatly shows the shit that is happening:
https://imgur.com/gallery/yXScmpi [imgur.com]
It truly looks like the fed is intentionally crashing our economy. It wasn't "overheated". That is only the case with mindless speculation that isn't backed by real changes in productivity. Productivity actually has gone up, mainly due to ripping out lots of regulations. You can see it clearly in the unemployment numbers and in the recent growth of factory jobs. Even steel production is up again.