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Source: (consider it) Thread: 22,000
Gramps49
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# 16378

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A magic number for the Dow Jones Industrials. Will likely be reached today.

Correction about to happen?

Posts: 1857 | From: Pullman WA | Registered: Apr 2011  |  IP: Logged
Sipech
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# 16870

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Possible. The dollar has been weakening in the last week (I wonder why [Roll Eyes] ) so those companies that have overseas revenues but a USD cost base will see their profits boosted by FX. We had similar in the UK after the value of the pound collapsed following the Brexit vote; the FTSE 100 gained. Not because of increased confidence, though some tried to spin it that way. It was purely a currency matter.

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I try to be self-deprecating; I'm just not very good at it.
Twitter: http://twitter.com/TheAlethiophile

Posts: 3592 | From: On the corporate ladder | Registered: Jan 2012  |  IP: Logged
Crœsos
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# 238

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quote:
Originally posted by Gramps49:
A magic number for the Dow Jones Industrials. Will likely be reached today.

Correction about to happen?

There's nothing particularly more "magic" about 22,000 than there is about 21,999 or 22,001. I suppose it could be considered a milestone for the base-ten numeral system.

As for a correction, if you're on an upward trend every day is a new record, until it's not. Still, I'm rather forcibly reminded of Glassman and Hassett's greatest hit.

So what's Kevin Hassett up to these days, I hear you not asking? Well . . .

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Humani nil a me alienum puto

Posts: 10225 | From: Sardis, Lydia | Registered: May 2001  |  IP: Logged
Crœsos
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# 238

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By interesting coincidence yesterday was the tenth anniversary of the start of the collapse of Bear Stearns and, with it, the start of the most recent recession.

quote:
Two Cayman Islands-based Bear Stearns hedge funds that ran into trouble over risky investments connected to subprime mortgage loans filed for bankruptcy protection late Tuesday [July 31, 2017].

The two hedge funds, Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. and Bear Stearns High Grade Structured Credit Strategies Enhanced Leveraged Master Fund Ltd, filed for Chapter 15 bankruptcy protection in the U.S. District Court for the Southern District of New York.



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Humani nil a me alienum puto

Posts: 10225 | From: Sardis, Lydia | Registered: May 2001  |  IP: Logged
Huia
Shipmate
# 3473

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Hmmm, maybe I should hold onto the American $10 note I have.

Huia - big time currency speculator [Big Grin]

[ 03. August 2017, 06:58: Message edited by: Huia ]

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Charity gives food from the table, Justice gives a place at the table.

Posts: 9845 | From: Te Wai Pounamu | Registered: Oct 2002  |  IP: Logged
Barnabas62
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# 9110

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Gramps49

Not sure what you wanted to discuss, could you clarify please?

Barnabas62
Purgatory Host

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Who is it that you seek? How then shall we live? How shall we sing the Lord's song in a strange land?

Posts: 20651 | From: Norfolk UK | Registered: Feb 2005  |  IP: Logged


 
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