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Stocks record high gdp big: 3.2% oil prices plunge economy surprise strength

https://i.imgur.com/AAAJq3x.png

Quote:

The S&P 500 and Nasdaq Composite closed at record highs on Friday as better-than-expected economic data offset a mixed batch of corporate earnings.

The S&P 500 climbed 0.5% to 2,939.88, an all-time closing high. The tech-heavy Nasdaq ended the day up 0.3% at 8,146.40. The Dow Jones Industrial Average rose 81.25 points to 26,543.33 and closed 1.5% below its all-time high.

First-quarter gross domestic product was 3.2%, the Commerce Department said on Friday, topping the consensus economist estimate of 2.5%, according to Dow Jones. An increase in exports drove the better-than-expected number.

“The economic expansion will set new records for longevity in July and it looks like there is no stopping this economy,” said Chris Rupkey, chief financial economist at MUFG, in a note. “We had all but given up on the first quarter with the Federal government shutdown ending January 25, frigid winter weather conditions shutting down manufacturing production, and the fears of a world growth slowdown.”

“So far the fears are unfounded,” Rupkey said.

The major indexes hovered around the flatline for most of the session as companies like Exxon Mobil and Intel delivered quarterly reports that disappointed investors.

Dow member Exxon fell more than 2% after the company’s results were dragged down by poor performances in its refining and chemicals businesses. Intel, another Dow component, fell 9% after the company issued light revenue guidance for the year. The stock also posted its biggest one-day drop since 2016.

“The burden of proof is fairly high,” said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management. “Investors’ appetite for companies that either disappoint or offer lower guidance on a go-forward basis tends to be met with a pretty sharp reaction.”

Those results overshadowed stronger-than-expected numbers from companies like Amazon and Ford Motor.

Amazon shares closed 2.5% higher after results topped expectations on Thursday and Wall Street analysts trumpeted its announced push to one-day delivery for Prime members.

Ford Motor, meanwhile, jumped 10.7% — posting its biggest gain since 2009 — after issuing better-than-forecast quarterly numbers, which were driven by strong truck and SUV sales in North America.

Other companies that reported between Thursday afternoon and Friday morning include, Mattel, Starbucks and American Airlines.

The S&P 500 and Nasdaq posted solid gains this week after more than 140 companies released their quarterly reports. The two indexes gained 1.2% and 1.9%, respectively. The Dow, meanwhile, posted a slight weekly loss.

Michael Geraghty, equity strategist at Cornerstone Capital Group, said investors should keep riding stocks higher as downside risks are limited.

“I don’t think it’s a time to be making significant additions to equities, but at the same time there is not a lot of downside risk,” he said. “Net net, we’re advising our clients to stick with their equity positions and, if stock prices decline from current levels, that may be a buying opportunity.”

https://www.cnbc.com/2019/04/26/stoc...ll-street.html

Interesting about Ford.

I remember when trucks and SUVs were "dead." Pundits and their lack of understanding... well, most things.

Quote:

Originally Posted by Sly (Post 22459461)

Interesting about Ford.

I remember when trucks and SUVs were "dead." Pundits and their lack of understanding... well, most things.

https://i.imgur.com/roBVkVf.png
:thumbsup

Yup.

Bladewire read that and cried.

Oil prices plunge gas prices are up to $4 a gallon :winkwink:

People don't give a shit about the price of oil when their gas prices are going up.

Gas prices continue skyrocketing across the U.S. - CBS News

Oh and Trump sends out reports lying about our growth and then quietly adjusts the report a month later. He sends out a false report to get good press that he didn't earn. Scumbag asshole Trump

U.S. Economy Was Weaker Last Quarter Than Previously Reported | WSJ

"Economic growth was slower at the beginning of this year than the government previously reported, as consumers pulled back spending and the housing market weighed down output.

Gross domestic product, a broad measure of the goods and services produced across the U.S., expanded at a seasonally and inflation-adjusted annual rate of 2% in the first quarter, the Commerce Department reported Thursday. That was weaker than an earlier estimate of 2.2% growth reported."

Meanwhile Trump added $234 billion budget deficit last month, the biggest one-month deficit in history...

MAGA any day now...

Quote:

Originally Posted by RedFred (Post 22459480)

https://scontent.fapa1-1.fna.fbcdn.n...0f&oe=5D736EDE

:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh

@OP

anyway, record emperors new clothes and shit eh OP?

Quote:

Originally Posted by RedFred (Post 22459480)

https://scontent.fapa1-1.fna.fbcdn.n...0f&oe=5D736EDE

Really man?

Post your pic.

OP uses the term "record high" very very loosely :1orglaugh:1orglaugh:1orglaugh

https://www.tradingview.com/x/uDsx7BwF/

Quote:

Originally Posted by OneHungLo (Post 22459489)

Really man?

Post your pic.

How rude.

You're supposed to post your pic before asking another to do so, so I'll do it for you. Granted this is a five-year-old pic of you not current

https://i.imgur.com/ikJZgyr.jpg

Quote:

Originally Posted by crockett (Post 22459485)

Meanwhile Trump added $234 billion budget deficit last month, the biggest one-month deficit in history...

MAGA any day now...

Part of those costs were bailing out farmers and other corps due to tariffs during our trade war. Trade war is almost up libs / anti-Americans. Dow30k on deck. Record breaking S&P and Nasdaq. Record unemployment. Great GDP numbers.

Quote:

Originally Posted by Bladewire (Post 22459493)

How rude.

You're supposed to post your pic before asking another to do so, so I'll do it for you. Granted this is a five-year-old pic of you not current

https://i.imgur.com/ikJZgyr.jpg

Dude i'm much more handsome.

Quote:

Originally Posted by crucifissio (Post 22459491)

OP uses the term "record high" very very loosely :1orglaugh:1orglaugh:1orglaugh

https://www.tradingview.com/x/uDsx7BwF/

Ever hear of the nasdaq or S&P wanna be guru?

And why are you posting one company? Talk about cherry picking.

Quote:

Originally Posted by OneHungLo (Post 22459489)

Really man?

Post your pic.

Oh I'm sorry, didn't mean to insult your lyin' woman. You love her, that's cool.

Quote:

Originally Posted by OneHungLo (Post 22459496)

Ever hear of the nasdaq or S&P wanna be guru?

triple top DOW...

Quote:

Originally Posted by crucifissio (Post 22459501)

triple top DOW...

Want to make a little bet?

How about $100.

That the dow hits 30k before or on Tuesday, November 3, 2020.

Quote:

Originally Posted by OneHungLo (Post 22459495)

Dude i'm much more handsome.

Wow! I think he's cute. I like the rugged manly fixer upper types.

Post your pic if that's not you then :thumbsup

Quote:

Originally Posted by OneHungLo (Post 22459502)

Want to make a little bet?

How about $100.

That the dow hits 30k before or on Tuesday, November 3, 2020.

the only bet I accept is that I say it will be below 30K and you say it will be above 30K...if your shit does not grow a pissant 3000 points in 18 months you admit trump is shit...a spike does not count...it must be over 30K on nov3 2020 for you to win...deal?

Quote:

Originally Posted by crucifissio (Post 22459505)

hahah oh wait I thought Trump is tanking the country? Too funny..

Its great the American exports are up, certainly seems some country out there is doing very well and buying more from you, as they have been from Australia, we had this discussion a few days ago.

Behold the rising of the dragon.

Also.. What's this mean? from the GDP report.

Disposable personal income increased $116.0 billion, or 3.0 percent, in the first quarter, compared with an increase of $222.9 billion, or 5.8 percent, in the fourth quarter. Real disposable personal income increased 2.4 percent, compared with an increase of 4.3 percent.

Quote:

Originally Posted by OneHungLo (Post 22459509)

hahah oh wait I thought Trump is tanking the country? Too funny..

Deal or no deal? Why the puss? I say it will be under 30K at that date...

Quote:

Originally Posted by crucifissio (Post 22459568)

Deal or no deal? Why the puss? I say it will be under 30K at that date...

if the DJI hits 30k before the 2020 election you owe me $100 usd if it doesn't I owe you $100usd.

Dude this should be a LOCK for you since according to you and all your pink hat buddies Trump is destroying the economy.

UnHungHo said he was going to post his pic.

Where waiting :disgust

And yet the GDP was STILL higher under Obama. Go figure.

Quote:

Originally Posted by RedFred (Post 22459480)

https://scontent.fapa1-1.fna.fbcdn.n...0f&oe=5D736EDE

^^ Fred's only response is to body-shame a Trump employee unrelated to stock & oil prices.

Clueless libs are full of hate and are literally clueless.

Quote:

Originally Posted by crockett (Post 22459485)

Meanwhile Trump added $234 billion budget deficit last month, the biggest one-month deficit in history...

MAGA any day now...

Because of too much spending by Congress. Nothing to do with Trump.

Clueless libs lose again

:action-sm

Quote:

Originally Posted by Rochard (Post 22459583)

And yet the GDP was STILL higher under Obama. Go figure.

Yes rochard but Obama wasn't in a massive trade war with china and he didn't have 8 rate hikes...actually he didn't have a single fed rate hike in his whole presidency.

Quote:

Originally Posted by crucifissio (Post 22459505)

Actually i will take you up on that bet let me know :thumbsup

Quote:

Originally Posted by OneHungLo (Post 22459589)

Yes rochard but Obama wasn't in a massive trade war with china and he didn't have 8 rate hikes...actually he didn't have a single fed rate hike in his whole presidency.

This is the biggest people seem to forget rate hikes kill everything :thumbsup

Quote:

Originally Posted by Rochard (Post 22459583)

And yet the GDP was STILL higher under Obama. Go figure.

The truth is like Kryptonite to Trump supporters 💎

Quote:

Originally Posted by Bladewire (Post 22459472)

Oil prices plunge gas prices are up to $4 a gallon :winkwink:

Where?

https://i.imgur.com/Hv5KRc9.png

OH that's in cali where they tax the living hell out of your gas to pay for all your illegals.

https://i.imgur.com/kja1Fq0.png