Rupar: the Dow is crashing close to another all time high today, and rate cuts are coming next week

[progree]

34. The Dow all-time closing high was 41,563 on 8/30/24 with intraday high of 41,585

Last edited Sat Sep 14, 2024, 11:19 AM - Edit history (1)

a value (as I type this) of 41,399.57, which I think is an all-time high.

There's an easy way to find out. Myself I go to https://finance.yahoo.com and at the top are a lot of financial markets tickers including the Dow, S&P 500, and Nasdaq --

Dow: https://finance.yahoo.com/quote/%5EDJI/

(I check out the chart and then click on Historic Data to confirm).

I just don't see how one can look at the OP and think it's not sarcasm.

Because some message board rando at DU *MIGHT* think the market was crashing a few days ago (I'd love to see a link to that, I acknowledge it could very well have happened), does not mean that everyone thinks that way, not when they show a triumphant Dark Brandon picture and write "the Dow is crashing close to another all time high today, and rate cuts are coming next week" (emphasis mine).

A few days ago someone (not sure if it was you or someone else) also said the market is crashing

Edited to add Somebody in this thread pointed out that on Wednesday, 9/11, the Dow did fall 700 points at the outset, and someone may have concluded that "the market is crashing", there is certainly lots of that kind of hyperbole around here. (Putting it in perspective, a 700 point drop is about a 1.7% drop, hardly a "Black Wednesday" history-making plunge) /END EDIT

Aaron Rupar is a long time independent journalist with progressive leanings. https://www.linkedin.com/in/aaron-rupar-0b560715/ . He's not just some Twitter rando, and I see no evidence that he's an obtuse ring-ring-ring-a-ding-dong.

I do acknowledge that unfortunately on DU there are plenty who think the economy is the worst it has been in generations, that we're really in a recession or that think a recession and a market crash are about to happen any day now, and that inflation is sky-high (I saw a post yesterday where someone complained of $5 a QUART for milk, it happens, sigh.

(my last milk purchase in Minneapolis was $2.99 a GALLON on September 3, which comes to 75 cents/quart but then I suppose that I benefited from a "high volume bulk purchase" that only fancy-pants elitists can afford to make, LOL ).