Stock Market 😡
- Thread starter goldmom
- Start date
Still, even after a bad day the Dow is over 40k. I'm not complaining.
The Dow dropped to somewhere around 28k points during the pandemic. Look at it since. Was at 41k earlier this week. Made a shit-ton of money so far this year alone, so I'm pleased with it's performance.
Moved to correction territory this AM.
I have enjoyed an appreciating market like all of us but as a retiree you can’t help but get nervous about protecting the pot you’ve managed to accumulate over the years.
I have enjoyed an appreciating market like all of us but as a retiree you can’t help but get nervous about protecting the pot you’ve managed to accumulate over the years.
As one who can see the retirement light at the end of the tunnel, I definitely am checking on my accounts more and more regularly.
I just finished looking at my accounts and I’m not bleeding out as much as I feared. 🤑
It's definitely been a yo-yo this week. The good thing is, even with the early week losses, the market is marginally up for the month and well up for the year.
It closed back over 40,000 again today. Mostly due to inflation coming down again, under 3% for the first time in 3 years.
The market is anticipating 1-2 interest rates cuts. Rate cuts generally move money from bonds to stocks, which makes the stock market go up.
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The Dow is up 1.5% for the month and 18.5% for the year. The S&P is up 2% for the month and 28% for the year. The NASDAQ is up 1% for the month and 34.5% for the year. All of this after one very bad beginning of a week when there were gloom and doom predictions everywhere.
Pretty good all in all.
Pretty good all in all.
On the last day of the month, the Dow set another record high finishing up 4.6% for the month and 19.3% for the year.
The oil companies are keeping the gas prices up but hopefully, we'll see a big decline in prices at the pump after Labor Day. Unleaded gas closed on the Nymex at 209.32 which should result in a price of around $2.75 when you're filling up.
The oil companies are keeping the gas prices up but hopefully, we'll see a big decline in prices at the pump after Labor Day. Unleaded gas closed on the Nymex at 209.32 which should result in a price of around $2.75 when you're filling up.
I don't think that I will see a price of $2.75 when I am filling up again in my lifetime.
$5.59/gallon at the last stop. To your bigger point, though, my retirement and investment accounts have had a fantastic year, generally. I got very lucky to buy the dip this time.Supply and demand are "keeping the gas prices up." Drill more, prices go down. Would be even more helpful if the government allowed more refineries.
Where did you get the correlation between spot and market price? And you know spot prices are a reflection of incremental demand, right? "Unleaded gas closed on the Nymex at 209.32 which should result in a price of around $2.75 when you're filling up."
Drilling more will do nothing for the pump price if it can't be refined. Prices are moving down because the inventory is already high.
The U.S. capacity to meet this growing demand is limited. Refineries cost billions to build or retrofit for expansion. In the current high gas price environment, they are cash cows. Yet when gasoline prices are low, as was the case just two years ago, they run on razor-thin profit margins.
A rule of thumb is the pump price is around $.65-$.70 above the market price to account for shipping costs and profits. It's obviously not exact but close.
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It is showing up under $3 around us now and we average the highest prices in the state.
Oil production in the US is at an all time high. Plenty of it is exported.
3$ and change where I am. Thinking about finding a circa 1995 hummer.
I got into a National Guard Hummer just after they were deployed in our area during the Blizzard of ‘93. (Multiple of them got stuck and performance was laughed at in deep snow conditions.)
That always seemed to a strange choice to own. Bling, I guess. Whatever.
That always seemed to a strange choice to own. Bling, I guess. Whatever.
