STOCK MARKET WATCH -- Monday, 1 August 2022

[Tansy_Gold]

STOCK MARKET WATCH, Monday, 1 August 2022

Previous SMW:
SMW for 29 July 2022




AT THE CLOSING BELL ON 29 July 2022



Dow Jones 32,845.13 +315.50 (0.97%)
S&P 500 4,130.29 +57.86 (1.42%)
Nasdaq 12,390.69 +228.09 (1.88%)

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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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Quote for the Day:

There is one main lesson of those burning summer weeks that’s almost too obvious to put into words. It’s a truth we want to ignore, coupled to our instinctive unwillingness to admit that violence can have a positive effect. We should remember that it’s easier to destroy than to build, and it’s really easy to destroy something you have no stake in.

Cecilia Holland. Blood on the Tracks; Kindle Single (c) 2011

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.

[bucolic_frolic]

1. In my twisted mind markets are roaring because inflation is being allowed to run

Stocks are being revalued - reinflated - by all the money juicing through the investment world, which is totally distinct from the ordinary working man's economy. There is no idea at all that Powell's Fed will choke off inflation Volcker-style. If there were, the markets would be half what they are now. No, it's clear the Fed, unlike the Volcker-era Fed, has no arrows in its quiver. They will just raise rates and see what happens. A year from now they'll be touting their success because inflation is down to 6.5%, and they'll be easing again to create jobs and support markets.

Hedge funds and private equity run our economy. Publicly traded equities are so passe. Only a sucker would hitch their wagon to investments highly regulated by the SEC - which is why that is the total array of investment options available to working people - 401K and what index fund would you like?

[Warpy]

2. That's possible and an explanation for part of it

The other part is the robber barons who sold just before Ukraine was invaded and sanctions seemed destined to cause a steep rise in oil prices. They've decided the market has fallen about as much as it was going to since oil prices have started to decline, so it's time to pump again, the dump coming next fall when energy prices go up again.

The SEC has been turned into a paper tiger by Republicans.

What is desperately needed is a transaction tax. We also desperately need a way to cut these ridiculous personal fortunes down to size, wealthy men always managing to be the enemies of democracy since they think money confers superior wisdom.

Some wages will rise in a tight labor market. We need Federal help to make sure all of them rise.

And some day we might even see a return to the progressive income tax.

[Tansy_Gold]

3. nutshell

"We also desperately need a way to cut these ridiculous personal fortunes down to size, wealthy men always managing to be the enemies of democracy since they think money confers superior wisdom. "

No effing sh*t.