Reuters: Wall Street sets records anew on trade deal boost
NEW YORK (Reuters) - Wall Street stocks notched record closing highs on Monday as cooling trade tensions between Washington and Beijing and upbeat economic data from China boosted investor sentiment.
The Dow surpassed its November closing high, while the S&P 500 and Nasdaq marked record closes for the third straight session.
Friday’s announcement of an interim trade deal between the world’s two biggest economies has lifted prospects for the global economy, several analysts said. Although growth in China is expected to continue moderating, the trade developments brightened the country’s economic outlook.
Adding to the optimism, data released early on Monday showed China’s industrial output and retail sales growth accelerated in November.
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Update: Dow gains 10,000th point since Trump's election (FOX News)
WNU Editor: With impeachment only two days away, the stock market is not paying any attention.
6 comments:
I think they are "paying attention." It's just that they've already factored impeachment in the House and acquittal in the Senate into the prices. I'm pretty sure they've already factored in Trump's reelection as well or, at the very least, they are factoring in the tax cuts and regulatory forms put into place under Trump will not be removed.
Are they right in their calculations? Time will tell. Suffice it to say they are "paying attention." They always "pay attention." It's simply that they've already factored in what they think the outcome is going to be and are acting accordingly. Wall Street generally has a very good record. We shall see if they get this one right as well.
Trump is certainly the man for the wealthy. The average and below average American not so much. For the upcoming election, if there was only a viable alternative on the horizon for people to vote for but sadly .....
The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
The top 50 percent of all taxpayers paid 97 percent of total individual income taxes. ...
In other words, the bottom 50 percent paid 3 percent.
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The people, who are mentally challenged and have a very low economic quotient, are focused on rates and not actual taxes paid or other parts of the tax code.
Some dolt like Slow Joe Biden will raise tax rates and the next time he talks to a foreign leader he will claim due to the increased cost of living in the US that the price of doing business is not 1 Burisma but 3 Burismas.
But the mentally challenged will be happy with an increased tax rate.
Interesting
"The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent)."
The second level, not mentioned in that sentence are the 9% who paid (32.2 percent)
However to establish relevance what should also be provided in such comparisons is the total income per grouping as well as the total income on which the tax was calculated. Therefore what is their effective tax rate.
An interesting question may well be, who is actually paying the wealthy top 10% all that income?
When are Democrat run cities and states going to stop offering tax free bonds for investors?
The other things is and that you did respond to or counter is the following. What if an upright, corrupt and virtuous liberal like Joe Biden has an effective tax rate the same as the top tax rate and yet lives like a king, because he tells some foreigner that the price of doing business is not 1 Burisma but 3 Burismas?
"Hello this is Congressman Jones (D). I pay the top tax rate as require and still make 20 times what the average comrade makes, but I can't afford the Mercedes yet. I need another make work or no show job. Thank you in advance!"
The thing I like about you Bob is that you argue like Dogbert without fail.
Anon
A non answer for certain.
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