STOCK MARKET WATCH - Thursday, 3 September 2020

[Tansy_Gold]

STOCK MARKET WATCH, Thursday, 3 September 2020

Previous SMW:
SMW for 2 September 2020




AT THE CLOSING BELL ON: 2 September 2020


Dow Jones 29,100.50 +454.84 (1.59%)
S&P 500 3,580.84 +54.19 (1.54%)
Nasdaq 12,056.44 +116.78 (0.98%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:











Gold & Silver:





Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not

be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[Hugin]

1. Well, it looks like the RNC convention is over and the big boys are 'profit taking' today.

Thursday’s Trading:

Dow -564.70
28,535.80 -1.94%

Nasdaq -478.35
11,578.09 -3.97%

S&P -91.52
3,489.32 -2.56%

As of 11:16 ET.

Time to take down the Potemkin Village.



Sayonara suckers!

[progree]

2. I suspect they'll figure a way to keep it going through Nov. 3. /nt

[Hugin]

3. Maybe.

Or they could be going to use the proceeds of this big pull-out for another market bang in the days leading up to Nov 3.

Right now, I'm speculating, they figure nobody is really paying attention and will forget before the week is out... or the day... or maybe even by the closing bell.

Must conserve those resources.

[progree]

4. U made me look. Dow down 792 (-2.72%), S&P 500 down 124 (-3.46%) (down 1007 pts in Dow equivalent

points) at 246p ET

If Dow was down 3.46% like the S&P 500 is, it would be down 1007 points

[Hugin]

5. What leaves me curious, progree.

Is if you look at the gainers during one of these events.

Right now it's Carnival Cruise Lines (CCL) @ 17.64 +5.57% 1,956,494.

Definitely, not a COVID hard stock.

Why is it so far up on today of all days?

It's been like this since March. A big fall, money dumped into an unlikely bin. Sometimes it's the cruise lines, others it's the airlines, or oil service companies.

Do you have any insights? Is it because of a potential vaccine? I find that hard to believe.

[progree]

6. I have no idea. But saw an interesting article yesterday

https://www.cnn.com/2020/09/02/investing/joe-biden-stock-market-donald-trump/index.html

The stock market thinks Joe Biden is going to beat Donald Trump, CNN, 9/2/20
It turns out a basket of stocks that could fare well in a Biden presidency (("blue stocks" )) have been outperforming the overall market — as well as a portfolio of stocks that might benefit from a second Trump term (("red stocks" )).

Another reason given in the article is that Biden is more likely to keep Jerome Powell as Fed Chair than Trump would be in a 2nd term.

I don't agree or disagree with any of the article, just throwing it out there -- he went into details on the "red" stocks and the "blue" stocks.

Slight improvement in the market, 340p ET: Dow down 922 and S&P 500 down 1102 in Dow equivalent points.