STOCK MARKET WATCH -- Tuesday, 2 May 2023

[Tansy_Gold]

STOCK MARKET WATCH, Tuesday, 2 May 2023

Previous SMW:
SMW for 1 May 2023




AT THE CLOSING BELL ON 1 May 2023


Dow Jones 34,051.70 -46.46 (0.14%)
S&P 500 4,167.87 -1.61 (0.039%)
Nasdaq 12,212.60 -13.99 (0.11%)

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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:

The real reason for the reversal of the pendulum had to do with power. As income and wealth became concentrated in fewer hands, politics reverted to what Marriner Eccles described in the 1920s when people "with great economic power had an undue influence in making the rules of the economic game." With hefty campaign contributions, and platoons of lobbyists and public relations flacks, the rich helped push through legal changes that enabled them to accumulate even more income and wealth – including tacit permission to bust unions, slash corporate payrolls, and reduce benefits; lower taxes for themselves; and deregulate Wall Street. With so much of their wealth depending on the performance of the stock market, they especially wanted to free up the Street to put greater pressure on companies to perform – for example, by making it easier for investors to mount "leveraged buyouts," pay with high-risk (junk) bonds, pump up the profits by firing workers, and then dump the company back on the market at a higher price. The plan worked.

Robert B. Reich. After-Shock: The Next Economy and America's Future. Alfred A. Knopf. © 2010.

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.

[Fiendish Thingy]

1. Yellen just announced X Date for default is June 1

Look out below!

[Shermann]

2. Let the brinksmanship...BEGIN!!! nt

[Tansy_Gold]

3. It's gonna get . . . .

. . . interesting.

[Warpy]

4. The Republicans have blinked in the past

and I sincerely hope they do it again. Maybe they will if they sit that ideologically driven, power mad nutcase McCarthy down and explain very quietly and simply what is going to happen to HIM if he doesn't listen to more sensible people.

If they do this suicidal thing, I hope it finally finishes them off. It should, it will slaughter a lot of their favorite billionaires.

[bucolic_frolic]

5. Multiple

Guru's that I follow agree a reckoning is nigh. Not sure if the bet's off if the Fed suddenly pauses, pivots. Bank failures, inflation, Federal budget crisis, bond yields, yield curve. I have an inverse S&P ETF, underwater, but holding.

I think we will default. Rethugs think they're on a roll and nothing is too extreme, they think trying to damage Biden helps them, and Donnie is holding their feet to the fire. Some pundits even think money market funds are in peril. We live in fragile times.