Dow Closes Up 10.9%, Nasdaq up 9.5%
forbes.com
forbes.com
So the question is, what good news drove this rally? I can't think of any. I think you sell stocks here.
The biggest risk is the Fed meeting tomorrow. The market is expecting a 50 basis point cut in the Fed Funds target rate (currently at 1.5%). If the Fed only goes 25bp, there will be a huge selloff. If the Fed goes 75bp, there's a moderate rally. 50bp, I think we see a moderate selloff.
Can someone put together an aggregator for this stuff?
Two weeks ago, October 13th, the DOW went up 11.1%, of course it gave that whole 11.1% and more back in the days that followed
The market is crazy right now.
Where do you think the cash from the crash went? You think Trump stuffed it in his matrass? It's all there somewhere, and they will put it back in the market - the question is just about where the money will be invested in.
Wake up sheeple :)
Those of us with a firm grasp of technology have figured out how to obtain this information without it being posted here. And discussing it after the fact is just hand waving and making up stories to tell ourselves. If you can call movements like that beforehand with any degree of accuracy, feel free to post, but otherwise, I hope we don't see a string of "dow up blah blah, dow down blah blah, nikei up blah blah", and so on and so forth.
I realize that this is pretty much his site, and he makes the rules, but does that mean that we should all be hitting that little up arrow next to his name out of gratitude? Honestly, I don't think that he probably checks on the number of upvotes we have given him when looking at yc applications. Although, he may have some sweet filter algorithm that automatically takes that into account...
Also, users of this community likely want to read pg's comments, and upvoting is the surest way to get them noticed.
My comment started out at -1, got voted up to 5ish or so, and after pg made his comment, got voted down again (not that I particularly care). He certainly does have a lot of influence, but that's not a bad thing - I think many of us arrived here because we like his writing and what he's done with this site.
However, I still hold out hope that some people might still have something interesting to say on days with interesting fluctuations in economic indicators- Their incredible unpredictability is conceptually interesting on many levels.
Prepare to hit the 7000's in the coming weeks as no one buys squat for xmas. Sorry little Timmy, due to fiscal irresponsibility there's no Christmas this year.
Bad downturns happen, and there is plenty of reason to expect that we can recover from them, yet I can't help but feel that these sorts of wild oscillations show some sort of deeper trouble in the system itself.
If you keep hearing about record-breaking percentage swings, well, that's a little more worrying.
( sleep(30); economy.fucked++ )?
It's just like capitalism, if your unhappy, don't buy the product.
Seriously, the not hacker news comment has been beaten to death on this site. All you have to do is not say anything and move on when you see something you think is off topic. Otherwise you just add to the noise.