STOCK MARKET WATCH -- Wednesday, 26 April 2023

[Tansy_Gold]

STOCK MARKET WATCH, Wednesday, 26 April 2023

Previous SMW:
SMW for 25 April 2023




AT THE CLOSING BELL ON 25 April 2023


Dow Jones 33,530.83 -344.57 (1.02%)
S&P 500 4,071.63 -65.41 (1.58%)
Nasdaq 11,799.16 -238.05 (1.98%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

Finally, there is the overwhelming importance of staging the daily bit of news for the nightly television programs of the networks. Candidates know they will be on these programs every night; but doing and saying what? In order to seize control of the situation, they stage little dramas: an announcement in front of the Statue of Liberty or in the midst of a picturesque slum; visits to a series of ethnic shops, delicatessens, farms, factories, and shopping centers. If the backdrop is right, the candidate thinks, the coverage may be too. Sometimes it is.

Nelson W. Polsby and Aaron Wildavsky. Presidential Elections: Strategies and Structures of American Politics. Tenth Edition. Chatham House. © 1996.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[Warpy]

1. Oh, yeah, the spectacle of big city, Ivy League lawyers

in small town diners and at county fairs showing they're reg'lar folks and fooling no one, while missing that poor rural folks who would move to a city in a heartbeat if they had a way to support themselves and city folks who are living on ramen for a week before the rent's due would love to move out to fresh air if they had a way to support themselves all think they're utter twits. And they're right. Plus, they push the fiction that rural, small town America is the only part that counts in a country where 80% live in cities and burbs.

Then again, I can't see them working a Knicks crowd in NYC or a Bruins crowd in Boston, they'd get chewed up and spit out fast.

However, I'd love to see them ditch the diners and the county fairs and I think the people in the diners and county fairs are most likely sick of being used as political props every election season.

And even if they feel compelled to visit a county fair, no more corn dogs, I beg of them. Please.

[Tansy_Gold]

3. This was one textbook for a class I took . . .

. . . in the middle of the 2000 election. I told the professor I thought it was the stupidest, most biased text of the three or four we had to read and he was aghast that anyone would challenge Polsby & Wildavsky, who were supposed to be unbiased, neutral "experts" on the subject.

I told him, "Anyone who puts 'picturesque slum' in print is NOT unbiased."

I've long suspected that the ~40% of eligible voters who don't vote do so out of disgust with the candidates as well as with the other voters. 2000 was a farce of corruption that paved the way for 2016. Anyone who believed non-rich voters chose 💩 out of "economic insecurity" was out of their mind. And any country that allows itself to be governed by the minority is a failed state, neither a democracy nor a "democratic republic." And it's only going to get worse, as states like TX take away even the appearance of an election. Why go to the trouble to cast a ballot when you KNOW it won't be counted?

[progree]

4. The phrase "picturesque slum" struck me too when I first read it, as I've never seen

a "picturesque slum" either in person, a picture, on TV, whatever. I was trying to imagine what one would look like.

[Warpy]

5. Artfully arranged rubble, empties, and syringes?

Usually it's a vacant lot where something burned down years ago and was never properly cleared. Blank walls of adjacent buildings are there and across the alley might be a building people still live in, cracked windows and fire escapes.

It is picturesque because it makes a great backdrop of dismal desperation but devoid of the people who could tell Mr. Candidate why it's dismal and desperate. The slumlord who owns the whole block and contributes handsomely to his campaign won't tell him.

Funny, they never show the vacant lots that were turned into urban gardens. That might give voters the wrong idea, that poor people aren't idle trash, after all. They're poor because they're not paid enough to be anything else, real class mobility ending when the New Deal did. Thanks, Ronnie.

[DemReadingDU]

6. 'picturesque slum'

An odd paring of words that I never heard before either

[bucolic_frolic]

2. That large DJIA red candle is a problem, and so are banks

NASDAQ will rally ferociously today and tomorrow, then we return to red ink.