The Stock Market
We all know the market is one of Trump's favorite indicators of his impact...
"Stock Market Tanks as Trump Unveils Nightmare Cabinet Picks".
Donald Trump’s controversial picks for his upcoming Cabinet have rattled right past the American public and on to damaging Wall Street.
In the wake of Trump’s decision to tap vaccine foe Robert F. Kennedy Jr. to run the Department of Health and Human Services, stocks linked to some of the biggest pharmaceutical companies—including Moderna, Pfizer, and Novavax—plummeted to some of their lowest points of the year.
But that’s not the only impact that Trump’s policies are having on the stock market. Now that the initial rush surrounding Trump’s pro–big business agenda is quieting down, investors are waking up to the staggering costs of some of his plans. For the second day in a row, the S&P 500 dropped, with tech stocks at the forefront of the decline, according to Bloomberg.
“[Trump’s plans] will come at the expense of potentially larger budget deficits, potentially larger debt and there is also the inflation dimension,” Charles-Henry Monchau, chief investment officer at Banque Syz & Co, told the business publication. “There’s been a realization that there is a price to pay for this.”
Trump has floated several tariff ideas—including one impossibly high hike on imported goods of between 200 and 2,000 percent—that experts believe would drastically spike inflation. Businesses across the country have balked at his numbers, arguing that it will be Americans, not foreign countries, who pay the price. Readying themselves for a potential second Trump administration, companies whose business models rely on foreign suppliers, from the auto industry to some of the nation’s most popular clothing lines, are planning to introduce price hikes on their products.
Is this how Trump "fixes" everything? By nominating spectacularly unqualified people so as to shake the confidence of the market?
To be fair, Musk did tell us that "hardships" are coming for us regular folk...
The idiocracy has taken hold. This cast of characters is really the best that America has to offer?
https://newrepublic.com/post/188492/sto … mp-cabinetThanks for the article Willow, here is another from the New Republic that is a forewarning of the danger that awaits in a 2nd Trump term.
https://newrepublic.com/article/188467/ … corruption
Out of curiosity, I wanted to know why and in what way did Musk mean "hardships coming for regular folks"?Thanks Credence. During a telephone town hall before Musk's appointment, he said his commission’s work would “necessarily involve some temporary hardship.”.
Days later, he suggested that this budget cutting , combined with Trump’s mass deportation plan, would cause a market-crashing economic “storm.”
An X user posted the following...
"If Trump succeeds in forcing through mass deportations, combined with Elon hacking away at the government, firing people and reducing the deficit - there will be an initial severe overreaction in the economy…Market will tumble. But when the storm passes and everyone realizes we are on sounder footing, there will be a rapid recovery to a healthier, sustainable economy.”
Musk responded... "sounds about right".
This is a terrifying position that our fellow Americans have put us in. That they're willing to take this sort of risk. We didn't buy the ticket but we're on the ride...Oh, you bought the ticket all right. Decades of giveaway programs (and increasing taxes) coupled with constantly increasing regulation have driven our mainstay business away in droves. That you don't want to pay the price to get them back doesn't mean we didn't drive them off, doesn't mean we don't need them back, doesn't mean it is to our benefit to GET them back.
All it means is you want your cake and eat it too.I've been promised nothing but peace and prosperity by trump.
I am expecting that to be delivered day one. No excuses. No ifs ands or buts.... Promises made promises kept. Slashing grocery prices, energy prices dropping 50%, reduced insurance prices, affordable homes, cheap gas and an end to all wars around the world. Basically an embarrassment of riches raining down... Have I missed anything? Trump promised a lot of giveaways... And I'm here for them. Hardship wasn't part of the deal. You should probably think again if you believe a majority of Americans are going to quietly accept even a minuscule amount of hardship.... People out here are still whining that their quiche cost them 70 cents more to make..Don't you ever get tired Of your standard giveaway schtick as if you are THE icon of rugged American individualism and self reliance? Half the country is mooching according to your vile statistical sources. We all pay taxes and not just to fuel your endless rightwing fantasies. So, what are YOU getting for free or is it, as many conservatives admit, that only they are deserving and "the others" are not.
Well, let's see. No child credit. No section 8. No WIC, no food stamps. No school lunches, no bus tickets. No tax credit, although I bought a car that qualified for a $7500 one and would buy solar cells for my roof if Uncle Sam would give me the same he is giving others. No one pays my electric bill for me and I don't get disability of any kind. I paid for my own college education, without asking anyone else to foot the bill. No one ever paid for my childcare costs (except me),
I DO get a meager return on my FICA payments of the last 40 years; a tiny portion of what it would have been with actual management rather than Congress robbing all the income for pork barrel spending. I once got some meat, when in college, from the local food bank when someone brought in a road kill elk and they had no way to store it.
So...No, I've never received charity from Uncle Sam and I'm not now. And I'm a little proud of that; I've paid my own way through life without demanding that some stranger 2,000 miles away give me what I need. I know that isn't popular now - that it is more common to be proud of how you have hoodwinked the "safety net" into giving far more than is actually needed - but there you have it. I'm proud of providing for myself.
How about you, Cred - did you or are you being supported by government charity, from taxes paid by a stranger you will never meet, or are you proud enough to do what is necessary to provide for your needs yourself? Are you too "disabled" to provide for your needs, or do you dig in and do what needs done to have a roof and food?Alright, Wilderness, let's compare notes.
No child credit, no Section 8, no WIC, No school lunches, no tax credits.
As for your car and roof, WHY is Uncle Sam not giving you the same credits as others?
My wife is disabled but neither her nor I get any benefits in that regard.
No one pays my electric bill.
My folks, summer jobs, university work study programs and my taking out a student loan paid for my college education, and I have many years ago paid that back, so no give away there.
You know, for having a meager Social Security income, you have spoken in one forum or antother about lavish trips to Europe, where does that money come from?
I live on a federal employee pension, that is more generous than social security. It required me, and it was mandatory, to submit to an 8 percent paycheck deduction in my salary over the last 35 years, prior to 2010. So, after all that time receiving my return is hardly a giveaway. My advantage is at the time I signed up in the late 1970s, the program was structured like military retirements, as there was never any market risk. You reached the miminum age with years of service and you get your check. That has all changed now.
I have always opted for security over risk as in 1990s, there was quite a demand for contract negotiators and administrators in the private sector. But I wanted security after I no longer wanted nor was able to work. No one could beat Civil Service retirements.
I still have to maintain the house that I have a mortgage on and acquired with no money down based on my VA benefits, not exactly a giveaway, is it? And with our medical expenses, we cannot afford lavish European junkets.
As it is that nobody gives me anything, how is it that we are so different?
Do I qualify as a self reliant rugged American citizen type?
Willow, it is funny that even Trump's government efficiency expert has said that hard times are going to come, well aware that Trump's economic policies will impose the hardship. This, from a man who is not a qualified economist only one with a gift of lining his own pockets. Why should I believe either him or Trump against the word of Nobel laureate economists?
How does Musk know that the hardship would only be temporary?
Like you, I am going to hold Republicans feet to the fire and constantly remind the voters what they actually bought into.
Maybe go to a site that is one of the best known for covering the market. Not a left rag.
The Fed interrupted the stock market’s Trump rally. What comes next.
https://www.marketwatch.com/story/the-f … =home-page
"The U.S. stock market’s post-election rally hit a speed bump. It was probably due for a pullback after surging in the wake of Donald Trump’s Nov. 5 presidential election victory, the only question was what would be the catalyst.
Up stepped Federal Reserve Chair Jerome Powell in a Thursday appearance in Dallas.
Powell reminded investors that the Fed wasn’t in a rush to deliver the next interest rate cut in the face of a resilient economy, singing much the same tune he warbled after the Fed’s Nov. 7 rate cut — a 25 basis point reduction that followed October’s 50 basis point cut.
But it seemed to land differently on the ears of investors, absent the immediate postelection euphoria, raising concerns about the pace of future Fed rate cuts and the path ahead for market interest rates. Those considerations and how they intersect with Trump’s economic plans are likely to call the tune for markets in the weeks ahead."
"Stocks opened higher Thursday following the latest inflation data but didn't stay there for long. A late-afternoon speech from Federal Reserve Chair Jerome Powell failed to reignite sentiment, with all three main benchmarks closing the day in the red."
Second source -- https://www.kiplinger.com/investing/sto … -rate-cuts
The market will more than likely correct this week. And yes, investors will be making decisions that will consider the new administration coming in Jan 2025. This down turn has experts pointing at Powell.
Barron"s "The stock market slipped again on Thursday after Wall Street dialed back rate-cut expectations in the wake of the latest inflation data and comments from Fed Chair Jerome Powell."Meaningless if it doesn't come from an appropriate and approved source.
CNN... MSNBC... NewRepublic... something reliable and trustworthy.What's the appropriate source Ken? Can you name off a few acceptable sources for stock / financial information?
I'm more than happy to use right wing sourcesDoes Kiplinger work?
"Tech stocks led the path lower, with Nvidia (NVDA) plummeting 3.3% ahead of next week's earnings report. But the chipmaker was hardly the worst Dow Jones stock today.
Rather, that title went to Amgen (AMGN), which tumbled 4.2% to tie Amazon.com (AMZN, -4.2%). Healthcare stocks fell across the board in reaction to President-elect Donald Trump's nomination of Robert F. Kennedy, Jr., to head the Department of Health and Human Services."
https://www.kiplinger.com/investing/sto … party-ends"Stock Market Tanks as Trump Unveils Nightmare Cabinet Picks".
This is not actually what the street is reporting. It's all on J. Powell.
Why are you discussing a couple of stocks?
The market isn't just about individual stocks—it’s a complex system influenced by a wide range of factors, including different sectors, economic indicators, and global events. Discussing it by quoting a couple of stocks can give an incomplete picture, as the market moves in diverse ways, with some stocks rising while others fall. For someone not well-versed in these nuances, it's important to avoid oversimplifying the market, as such broad discussions can be misleading and fail to capture the full picture of market dynamics. Would you like a few stocked that did well after Powell's announcement?
On Thursday, despite the overall market decline, a few popular stocks stood out. For example, Meta Platforms (META) saw a strong performance, rising by 4.4% after reporting impressive earnings that exceeded expectations.
Yes, Kiplingers works well as a source
Home Investing Stocks
Stock Market Today: Stocks Slip After Powell Talks Rate Cuts
The main indexes closed lower Thursday after Fed Chair Powell said there's no rush to cut rates.
https://www.kiplinger.com/investing/sto … -rate-cuts
The market was skittish due to concerns about interest rates and inflation that have persisted. It is volatile, but could very well rebound this week.Yes... And Kiplinger...
"Healthcare stocks fell across the board in reaction to President-elect Donald Trump's nomination of Robert F. Kennedy, Jr., to head the Department of Health and Human Services."Relative to the health industry stocks, I have to butt in because I think I can authentically offer an 'Average Joe's' first thought when he saw that headline/blurb:
"Maybe that's a good thing. Maybe they are worried about reform?"
Big Pharma is a real thing. You guys (generic) have been taking them to court for decades. The RFK Jr. message seems clear. Shouldn't they be a bit worried? Isn't that a good thing instead of a ding?
GAThe problem here, is it that we have folks acting like RFK Jr is a legitimate nomination. Why are we ignoring all the outlandish conspiracies he's floated? His anti-science rhetoric? On top of that, the man doesn't have any experience in running managing anything! He is a lawyer. He is an activist who has spread spread medical disinformation and conspiracy theories,
"Maybe that's a good thing. Maybe they are worried about reform?"
I think we all have reason to worry. Folks have picked out a few kernels of normalcy and ignored the downright crazy and dangerous musings of Kennedy.
Shouldn't the person tapped to head HHS exhibit fidelity to science and scientific evidence? Kennedy has spent his entire career fomenting distrust in public health and undermining science at every step of the way.
The damage? If we have the head of HHS cherry picking, misconstruing data and ultimately releasing false or misleading information won't it will poison the well of public opinion and nobody will know who to trust? Will his vaccine mistrust be so influential as to usher in a new era of polio or other eradicated afflictions?
Reminds me of the nonsense Trump let those of questionable background push during covid related to the use of ivermectin and hydroxychloroquine.
You shouldn’t have somebody who’s a vaccine denier and science skeptic as head of the nation’s scientific agencies. He’s shown that, on a huge range of public health issues, he takes the position outside the scientific mainstream, that he peddles mis- and disinformation, and that he’s not to be trusted with the health and safety of Americans.
Someone compared Kennedy being considered for the role to “having somebody who doesn’t believe in gravity being the head of NASA.” Yep."Will his vaccine mistrust be so influential as to usher in a new era of polio or other eradicated afflictions? "
Measles comes to mind for me.Smallpox, and Diphtheria. Malaria and Yellow fever. Even Tetanus. There is absolutely zero doubt that vaccines have done far, far more good than harm.
Hopefully not, because we have both on the rise, after many decades of not seeing this kind of numbers. Migrants have given us a gift that won't stop giving. https://www.cdc.gov/measles/data-research/index.html
Also, rise in TB... No time to add a source, or the will to bother.
I don't think Kenndey has had much influence on other nations. CDC feels our problems are rising due to migrants coming in carrying the disease we have not had to previously worry about.Hey, just a side track. A subject that has not hit the fan as of yet. Don't feel you need to respond. Just wanted to enter the here and now, not continue with an "If come". I mean Kennedy has not been confirmed nor do we know what he would be truly offering.
Did you think I was defending RFK Jr.? You've sent me down enough rabbit holes with Gabbard; I'm not chasing Jr. too.
I want him to shake up the place. I'll wait and see if he's dangerous. We all will.
GAA "wait and see" approach in terms of health? Wait and see if someone will be a detriment when we have a plethora of their previous speech detailing a litany of lunacy? A history of rejecting science?
The maga vibe these days seems to be "just wait and see" if these folks do the things they've been telling us they're going to do. Let's just wait and see if these folks act on their documented fallacies. The implications are really huge in terms of health. If shaking up the place means we open the door up to things like measles or polio...that's a real danger and I'd rather not wait and see if these get let out of the bag.
The man is influential. He could potentially be put in a position of real influence. He'll have a megaphone for views that are contrary to science and many are just out right nonsense. Tin hat stuff
Americans willingness to turn away from science, education and expertise is alarming." a plethora?" Oh lordy, I didn't know it was that bad. ;-)
I have the impression that it was new scientific study that prompted Jr.'s fluoridation 'idiocy'. I also have the perception that the science of the Covid vaccine was initially wrong and updated scientific info showed the doubters to be more right than they were wrong.
Are those perceptions wrong?
GAI have no problem with the head of HHS looking at the latest research regarding fluoridation of water. You have plucked out one of the kernels of normalcy in Kennedy's repertoire. It's hard, for me, to set aside all of the outrageous things he has said in favor of a few kernels of sense.
The science of the covid vaccine was wrong? I am not sure what you mean? The MRNA technology?
Kennedy has been a part of dozens of lawsuits on the subject of vaccine safety. I don't think any have been successful.
"a plethora?" Oh lordy, I didn't know it was that bad. ;-)
Well, the rabbit hole awaits. LolYes, I did pick one kernel, but it was legitimate for the point. That point wasn't about setting aside any crazy stuff, it was about speaking to the crazy stuff, not just stuff you (again, generic) label as crazy.
The Covid science reference was to what the public was told: the vaccine will prevent getting covid, and the vaccine and mask will prevent spreading it. That was the accepted science. Both scientific facts were false. Both were the result of rushed bad science, at best, and purposeful deception at worst.
GA
Bidens lack of border control has us now dealing with diseases we have not had to worry about in decades. Measles, TB, Poliio... One only needs to check WHO, as well as CDC to see why we now have a growing problem with diseases that were all but eradicated. So, maybe worry about the now, and not something that we have no idea will come to fruition. Kennedy has nothing to do with the problems we are seeing right now in many states due to migrants bringing in diseases. This will not be under the carpet much longer, because we see TB now spreading at a faster clip.
"Bidens lack of border control has us now dealing with diseases we have not had to worry about in decades"
Do you mean Congress' inability to pass reform? That's water under the bridge now
What folks are failing to address though, are Kennedy's well documented views on vaccines and the potential impact. Shouldn't those be a focal point of his nomination?
You should consider stepping away from this topic, as it requires expertise—not just what you can find on Google. So far, your views haven't been particularly convincing, and anyone who truly understands the market knows this latest downturn was driven by Powell’s manipulation of interest rates. You're right that the market takes government actions into account, and investors certainly did when Trump was elected. But this downturn was all about Powell. Investors aren't concerned with who Trump is bringing to Washington right now. They’re focused on striking while the iron is hot, and that can change in an instant. It’s all about making money now, not months down the road.
"You should consider stepping away from this topic,
Lol thanks for the admonishment... I think I'll pass!
"Shares in vaccine makers and healthcare firms around the world slid sharply on Friday, as investors warned that Donald Trump's choice of Robert F Kennedy Jr as US Health Secretary could pose new challenges to the sector.
Kennedy is known as a vaccine sceptic and, if confirmed in the post, has vowed to use it to crack down on “Big Pharma”.
The news prompted a sell-off across the industry. In the US, shares in Pfizer sank more than 4% and Moderna about 7% while UK-listed firms AstraZeneca and GSK dropped more than 3%.
Russ Mould, investment director at AJ Bell, said the pick had “spooked” shareholders"Get back to you this week --- But again I would suggest you not get into discussing the market. This subject is over your head... Again I have asked many times -- how old are you?
Are you actually telling me what I can post about? And what is "over my head?"
Your opening post, the subject of our conversation --- I quote you...
"We all know the market is one of Trump's favorite indicators of his impact...
"Stock Market Tanks as Trump Unveils Nightmare Cabinet Picks".
Donald Trump’s controversial picks for his upcoming Cabinet have rattled right past the American public and on to damaging Wall Street."
First Note the word "suggest"— it’s clear that the stock market is a complicated subject, and your first post came across as a subjective view, which didn’t align with what many financial reporters were reporting. I offered you several links that provided insights into why the market had two down days. It had nothing to do with Trump, but J.Powell's decision-making.
"On Thursday, November 14, 2024, Federal Reserve Chair Jerome Powell made remarks that contributed to a notable market reaction. Powell stated that the economy was strong, with low unemployment, solid growth, and inflation still above the Fed's 2% target. Given these factors, he emphasized that there was no immediate need to rush into cutting interest rates. This approach suggested that the Fed may move more cautiously with future rate cuts, particularly with ongoing inflationary pressures.
The markets, which had been expecting aggressive rate cuts in 2025, reacted negatively to Powell's comments, as they anticipated fewer cuts than previously forecast. His remarks led to an increase in Treasury yields and a shift in traders' expectations, with the central bank potentially reducing rates at a slower pace moving into next year"
https://www.bworldonline.com/banking-fi … g-economy/
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