Dow surges 120+ points, hits new all-time high as tech stocks bounce

“U.S. stocks traded higher on Monday as technology stocks recovered from a wobbly performance last week,” Fred Imbert reports for CNBC. “The Dow Jones industrial average rose 121 points and hit a record, surpassing a previous all-time high of 21,391.97, which was set last week.”

“The S&P 500 gained 0.8 percent to also reach a record, with information technology rising 1.6 percent to lead advancers. The Nasdaq composite outperformed, rising 1.4 percent.,” Imbert reports. “Large-cap technology stocks like Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all traded higher. Amazon also hit an all-time high at the open.”

Imbert reports, “Several tech CEOs, including Amazon’s Jeff Bezos and Apple’s Tim Cook were slated to meet with President Donald Trump as the administration sets its sights on dramatic spending cuts.”

Read more in the full article here.

MacDailyNews Take: AAPL remains spectacularly undervalued, as usual.

Apple leads Dow in tech stocks recovery – June 19, 2017


    1. So we’re using stock market movement to gauge presidential performance? A) That’s ridiculous, and B) in that case I suggest you look at where the Dow was when Obama took office versus when he left.

    1. That is good! They can buy cars from me, allowing my wife and I to buy some furniture from the commissions. That company will also profit, and everyone will be happy!

      1. David: “trickle down” often gets slammed, but you exemplify it in prime action. It a natural effect of basic and healthy economics. I can only conclude that those that slam it are believers in the “auto-share” mindset I mentioned below?

        1. No, that’s completely bogus.

          The big tax breaks for the 1% don’t do anything for the rest. It isn’t like the 1% was unable to afford that car, and with this tax break, they suddenly caught a $50,000 windfall that enabled them to buy a car (or furniture, or take a vacation). These tax breaks that go to people whose disposable income is significantly greater than their discretionary spending only help fatten their accounts and portfolios. That money never reaches the middle class. Same thing goes for the big investment gains. While the few in the middle class that own stocks may catch some windfall from them, they are the ones that get to pay full tax on it and cannot hide behind LLCs or other tax havens. The rich have multitude of perfectly legal ways to reduce the real tax burden on those capital gains, further reducing any meaningful windfall that middle class may get from this.

          The whole ‘trickle-down’ theory has been debunked far too many times to be seriously considered by anyone with a functioning brain.

    2. When the rich get richer, more jobs are created b/c the Bad rich invest (take risk), which always means opportunity for those “in the path.” Now, if one believes there should be an “auto-share” rule set-up entitling others to the rich’s income, then there’s no good explanation. I’ve never been able to comprehend the mindset that I should have a part of what another earns…as a right. That thinking is a cultural blight, imo. Steve was a multi-millionaire in his early 20’s. Was that a bad thing? He enabled many others “in his path” to live well and some to become evil-rich.

    3. If you are rich and not getting richer, you’re either not smart, you don’t care, or you are on a beach somewhere enjoying it. I bet 100K you’d like to have enough coin in the bank to do what you want (be rich). Why the bitterness Pre?

      1. Here’s why. The game is currently rigged so that the rich can find themselves plenty of simple and perfectly legal loopholes (things such as LLCs, etc) that allow them to significantly reduce the effective tax rate on their income; loopholes that are simply unavailable to middle class. In addition, as I mentioned above, their disposable income tends to be much greater than their discretionary spending. Thus, any surplus windfall (capital gains, tax breaks) never makes its way into the middle class. In other words, extra money they get ends up either overseas (hidden from the IRS), or in various securities, none of which makes it back into the national economy. To put it simply, when you give a tax break to a middle class person who makes $100k per year, almost every single dollar of that tax break will be spent on something (a new car, a vacation, new furniture, kitchen remodeling), pumping that money straight back into the economy, helping others in middle class earn a living. The money given to the rich is parked away and practically permanently leaves the economy.

  1. This is stock bubble quickly in the making and ready to burst, perhaps in late 2017/early 2018. Economic data doesn’t support this false optimism. Federal Reserve/Yellen is flat-out lying when talking about economic strength.

    1. Yep CBuono: the stock market is not the measure for a healthy economy…nor is the silly consumer confidence index. Having pride in DT’s influence on the market is quite premature and has little to do with the fundamentals…we are in a massive hole. “First”, your “your welcome” is absurd and sophomoric. Sometimes I think your a bot that auto-responds with canned & campaign-like messages. Don is a big spender and he’s following the path of the last two drunken spenders.

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