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I mean that's the point, no? The dow having a record day while tens millions are suddenly no longer employed demonstrates a disconnect between the two. Tens of
by derg 6y ago
I mean that's the point, no? The dow having a record day while tens millions are suddenly no longer employed demonstrates a disconnect between the two. Tens of millions out of work should spell disaster for companies, should it not?
- nightski 6y agoFirst of all, you are ignoring the fact that the Dow dropped ~37% earlier in the year in response to what was happening. The market has never dropped that much so fast. Second, a great day means nothing if you look at how volatile the market has been lately. We are seeing large swings up and down on a regular basis. Third, there is no indication that tens of millions unemployed (which we are still figuring out how much of that is actually temporary vs. permanent) would necessarily immediately affect the large cap stocks in the Dow. These are companies like 3M, Apple, Caterpillar, etc... Lastly, just because the Dow is up significantly on a single day does not mean all the stocks in the Dow are doing great. We've been seeing handfuls of stocks carry indices upwards even though they also contain poor performers.
- derg 6y agoYou can "well akshually" me all you want, it still doesn't discount what I said. It's the juxtaposition of people celebrating the "best day since [x]" while tens of millions are losing jobs.
- nightski 6y agoI'm just trying to say that a CNBC headline does not equal "people celebrating". If you watch it for a few days you'll see what I mean. Lately it feels like it has been "Best day since the great depression" followed by "Worst day since the great depression" every other day. They are very sensationalist.