Dow rises 5,000 points in a year for the first time ever

“The Dow Jones industrial average just did something it has never done in its 121-year history,” Fred Imbert reports for CNBC. “The 30-stock average is now up more than 5,000 points in a year, marking its biggest annual-points gain ever. This following a 200-point rally Monday which sent it to an all-time high.”

“The Dow was also on track Monday to post 70 record closes in a year for the first time,” Imbert reports. “To put that into perspective, about one of every four trading sessions this year has been a record close for the index.”

“The Dow, along with the S&P 500 and the Nasdaq composite, has had a banner year, rising 25.6 percent. The S&P 500 and Nasdaq are up 20.3 percent and 28.6 percent, respectively,” Imbert reports. “Wall Street is generally bullish on stocks heading into next year, but do not expect a repeat of this year. Strategists, on average, expect a 5 percent increase on the S&P 500.”

Read more in the full article here.

MacDailyNews Take: Strength in the markets, high employment, and strong consumer confidence bode very well for the economy in general and for makers of coveted goods, like Apple, in particular.

So, let’s light this candle, bring on the much-needed U.S. personal income and corporate tax reform and repatriation tax holiday!

U.S. economic optimism soars – December a8, 2017
U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 2017
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017


        1. Re; Jus’ Sayin’

          No. Everybody was happy in 1929 until they were not. They did not see it coming until it hit them right between the eyes.

          Do your homework and stop being a cheerleader- does not matter which side you think you are on. The large hedge fund managers are already planning their exits from the broad market into defensive positions- they will not pull the trigger until later but are planning all of their trades so that they can be executed swiftly when the time comes. You will be on the outside looking in if you are not prepared.

          The Fed, ECB and BoJ have been creating money out of thin air and handing it essentially for free to large banks fo almost a decade. A lot of the pumped up stock valuation is based upon this funny money. Further, when the central banks clear their spreadsheets of the assets they have been buying up there will be significantly more supply than demand and we all know what that means for pricing, right?

          There is money to be made this late in the cycle, but you do not want to be the kid without a chair when the music stops and all the pros have folding chairs in their hands. Where will you be?

          Me, I’m mostly liquid except for some star performers where I have long ago recovered my investment- like Apple. If my remaining stock went to zero I would still be money up from the purchase price- same for Amazon & Tesla.

          Not an advisor, but I wouldn’t be all in especially going forward.

      1. Here are five longtime Democrat empires (all days are consecutive and uninterrupted):
        1. St. Louis: only Democrat mayors; 90% Democrat City Council; 15,000 days.
        2. Baltimore: only Democrat mayors and only Democrat City Council; 18,000 days.
        3. Philadelphia: only Democrat mayors; 90% Democrat City Council; 20,000 days.
        4. Detroit: only Democrat mayors; 90% Democrat City Council; 22,000 days.
        5. And the great Democrat beacon on the hill, Chicago: only Democrat mayors; 90% Democrat City Council; 30,000 days.
        The Democrats have ruled Chicago for longer than Stalin ruled the USSR, the Castros in Cuba, and the Kims in North Korea, and for longer than slavery was legal in the U.S.

  1. I didn’t vote for Trump, but the economy and stock market is getting better and better. I am very happy. In fact, all Americans are HAPPY, we are in good spirits.
    Merry Christmas and Happy New Year to everyone.

    1. There is no known metric by which anywhere near even half Americans are happy with the economy, or in good spirits.

      Rich Americans certainly are. Others haven’t seen any fruits of the Dow at 21,000, or of the reduced regulation.

            1. “The Muslim call to prayer one of the prettiest sounds on earth.”

              – The Muslim Usurper, “Dreams Of I Don’t Know Who My Father Is.”

            2. “The future must not belong to those who slander the prophet of islam.”
              – The Muslim Usurper, Address to the UN, September 25, 2012.

            3. Oh, how fun it is to yank something out of its context and turn it into something else! And here is that context (from the US Government Archives):

              “The future must not belong to those who target Coptic Christians in Egypt — it must be claimed by those in Tahrir Square who chanted, “Muslims, Christians, we are one.” The future must not belong to those who bully women — it must be shaped by girls who go to school, and those who stand for a world where our daughters can live their dreams just like our sons. (Applause.)

              The future must not belong to those corrupt few who steal a country’s resources — it must be won by the students and entrepreneurs, the workers and business owners who seek a broader prosperity for all people. Those are the women and men that America stands with; theirs is the vision we will support.

              The future must not belong to those who slander the prophet of Islam. But to be credible, those who condemn that slander must also condemn the hate we see in the images of Jesus Christ that are desecrated, or churches that are destroyed, or the Holocaust that is denied.

              Whaddayaknow….? Not exactly the Muslim Usurper that you’d hope it would be?

            4. “Whatever we once were, we are no longer a Christian nation.”
              – The Muslim Usurper

              …and, thank God, this treasonous piece of shít is no longer president.

            5. The US never was a “Christian Nation” and a significant number of the founders were in fact Deists.
              From the Apple Dictionary:
              deism | ˈdēˌizəm, ˈdāˌizəm |
              belief in the existence of a supreme being, specifically of a creator who does not intervene in the universe. The term is used chiefly of an intellectual movement of the 17th and 18th centuries that accepted the existence of a creator on the basis of reason but rejected belief in a supernatural deity who interacts with humankind.

              Others were Unitarians who denied the deity of Jesus Christ, making them apostates in the eyes of any evangelical.

              Finally, if one looks at the Treaty of Tripoli, it says Art. 11. “As the Government of the United States of America is not, in any sense, founded on the Christian religion…” This was passed in the US Senate by unanimous consent and signed by President John Adams.The treaty was negotiated on the order of then President George Washington by David Humphreys.

              No, America was not founded as a Christian nation. It was founded as a Secular Democratic Republic. The intent was that the government recognize no faith and discriminate against no faith.

            6. “It is the duty of all Nations to acknowledge the providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to emplore His protection and favor.”
              – George Washington

              “It is impossible to rightly govern a nation without God and the Bible.”
              – George Washington

              “”I am a real Christian – that is to say, a disciple of the doctrines of Jesus Christ.”
              – Thomas Jefferson

              “Now I will avow, that I then believe, and now believe, that those general Principles of Christianity, are as eternal and immutable, as the Existence and Attributes of God; and that those Principles of Liberty, are as unalterable as human Nature and our terrestrial, mundane System.”
              – John Adams

              “I have carefully examined the evidences of the Christian religion, and if I was sitting as a juror upon its authenticity I would unhesitatingly give my verdict in its favor.”
              – Alexander Hamilton

              “It cannot be emphasized too strongly or too often that this great nation was founded, not by religionists, but by Christians; not on religions, but on the gospel of Jesus Christ. For this very reason peoples of other faiths have been afforded asylum, prosperity, and freedom of worship here.”
              – Patrick Henry

              “Resistance to tyranny becomes the Christian and social duty of each individual. … Continue steadfast and, with a proper sense of your dependence on God, nobly defend those rights which heaven gave, and no man ought to take from us.”
              – John Hancock

              ….the Founders of our great country disagree with the feeble, pusillanimous musings of DavGreg, libtard extraordinaire.

            7. Ill give you one quote from Thomas Jefferson to John Adams:
              “And the day will come when the mystical generation of Jesus, by the supreme being as his father in the womb of a virgin, will be classed with the fable of the generation of Minerva in the brain of Jupiter.”
              Game, Set, Match
              (mic drop)

            8. …your argument was that the United States was not founded as a Christian nation, you are incorrect. In the spirit of Christmas, I accept your apology.

            9. Your own “facts” refute your conclusion. You speak of a “creator who does not intervene in the universe”. So you are saying that the founders believed in a creator. Hmmm. But you are emphatic that they were definitely not Christian. Maybe you are confused?

              Here is a Christian story that is basic to our Republic. It fits the Christmas season: the star in the east — that foretells the birth of Jesus — first appeared to a shepherd — a lowly person — not to a King. Hmmm. Do you see a connection here to the American principal that people are created equal? This is basic to the founding of our Republic. Does someone need to draw you a picture?

              Our Republic welcomes people who are different from one another. We know it is good and right to include people who are different from us because we learned it from the story of the good Samaritan. The Samaritan helped a man who had been robbed, stripped, beaten and left for dead. The Samaritan helped even though the beaten man was a Jew; Jews and Samaritans were different tribes who hated each other. Hmmm. From many tribes, we are one. E Pluribus Unum.

              A Deist — like Jefferson — could read and understand the principles of the Hebrew bible and the new testament, even if he did not think that God makes the sun rise and set.

            10. I have no dog in the fight as I am an agnostic. But the revisionists that would like to fabricate a tale that this country was founded upon the Bible are telling fairy tales.

              The time of the founders was a time today’s evangelicals would view as one of great apostasy- especially among the educated class.

              Many of the earliest arrivals off the boat were fleeing persecution from state religions in Europe and that stuck with many here. As science advanced the greater share of the professional people checked the faith they were taught as children at the door, as they should.

              After most of the founding generation had died, a plague of “Revival” swept America and has been hobbling it ever since. We now have athletes that actually act as if Jesus cares that you scored a goal or made a touchdown- as preposterous a thought as any hatched from the human imagination.

              It takes far more faith to believe in a sky god than peer reviewed science. Preachers and Evangelists are selling an invisible product and doing it tax free. The problem is that everybody worships the right one and all the other people are wrong unless you are a Universalist.

              As to the founding- all men were not created equal as only white, male, landowners not in unserviced debt were able to vote or hold elective office. Millions were held in slavery by people who worshipped the same Jesus you say loves everyone. Countless other children of god were slaughtered and their land was stolen despite the commandments to not kill or steal. Their children were sent to distant boarding schools to be denied the right to speak their own language, live with their families or worship according to their tradition.

              Does not sound like Jesus to me.

            11. Oh, what fun, again, to yank something out of context and shove it into another one, for one’s own gratification..! And here is the actual text:

              “Whatever we once were, we are no longer a Christian nation – at least, not just. We are also a Jewish nation, a Muslim nation, a Buddhist nation, and a Hindu nation, and a nation of nonbelievers.” (Press conference in Turkey)

            12. History spoke in the 2016 election. The verdict on Obama was that Americans wanted anything else (even Trump!). Wow his leadership really sucked!

            13. Had The Clot won, none of this corruption and filth that was the Muslim Usurper’s “legacy” would have come to light…it would have multiplied and continued unabated.

              a democrat will never occupy the White House again…


            14. Ha, ha, ha, ha…. Keep telling yourself that.

              As a reminder (to the senile few), I have no horse in your little political race (a foreign ex-pat, not a US voter), you are now counting down the final months (and few years) of the last Republican presidency in the US.

              Unless your republican party shifts its political platform on issues such as immigration, taxation and marriage equality, it will not win the presidency ever again after this. The reason is very simple: Trump was elected largely thanks to white people. Their share of the US population is rapidly shrinking (to the advantage of non-whites and immigrants), who overwhelmingly vote for democrats (people who don’t seem to actually hate them).

              Have fun while it lasts!

          1. “I want to start by thanking Harvey Weinstein for organizing this amazing day,” she said at the beginning of her remarks. “Harvey. This is possible because of Harvey. He is a wonderful human being, a good friend and just a powerhouse.”

            – Assquatch, the former First Yeti

      1. I’m not rich, but my 401k is up 26% this year. That makes your statement that only the rich are happy wrong and that makes you a liberal idiot who doesn’t know what company 401k,s are.

        1. You are rich, my friend. You may not feel it, but you are.

          Less than one third of Americans who work at companies that offer 401k are actually putting money into them (32%). And that only counts people who work at places that even offer 401k. It doesn’t include self-employed (“gig economy”) and hourly wage earners at the bottom of the scale.

          You represent a fairly small minority of the American population; the one that is now happy as a consequence of Trump’s actions (stock market growth caused by heavy deregulation).

      2. Over half the families in the US cannot handle an unexpected $400 expense without a trip to the Pawn Shop or Payday Loan Office. Half.

        In an ever increasing number of communities working people with what are normally thought of as Middle Class jobs cannot afford housing anywhere near where they work. There are people commuting 100 miles daily each way because they cannot afford to live where their job is located.

        The amount of consumer debt being carried by the average American home is staggering and carries high interest rates that used to be considered usury. A couple of generations are saddled with student debt that they cannot pay off or discharge in bankruptcy.

        I am 56 and own my home, have 3 fully vested and fully funded Pensions as well as my 403B and Roth IRA accounts and a selection of stocks I hold (long term holds). The only installment debt I have is a car which I financed just to keep my credit rating and the interest is 1.9%- essentially free money and I am a year ahead of the payment schedule.

        The problem is that I am an exception and not the rule. Most Americans cannot afford to retire and most working adults are living on a thin veneer of prosperity with no cash reserve and a pile of debt. That is the economy away from the Casino of Wall Street.

  2. And with a 32% approval rating, very few Americans attribute their positive economic outlook to Donald Trump, a man who spends up to 8 hours a day watching TV while the rest of us have to work for a living.

      1. Apparently, there was an article quoting several people from Trump’s inner circle.

        While it was still just a newspaper article, it had dozens of separate, corroborating sources from within the White House. Couple with that the fact that nobody denied it (other than Trump himself), and we can say the article has a pretty high probability of truth.

          1. LMAO, “dozens of separate, corroborating sources”

            Funny, didn’t look to me that he was watching TV when he flew out to Dover AFB multiple times during the return of fallen soldiers.

            But, random “sources” seem to be the only “truth” SJW’s need. SMH

  3. Like the value of BitCoin this will drop once the corporations have drained the last drop out of ordinary citizens that are at or near there breaking point. Stagnate wages for 12 years and steady rising prices, with most companies scrapping any form of pension other than GOLDEN hand shakes for the few at the top that don’t need them but demand them anyway. Once the baby Boomers have used up their pensions and the next wave of “retirees” with no pension or income starts hitting the financial wall it will be game over. Sure we still have a few years before that happens but it is going to happen as long as the unbridled greed of the Executive class keep on course.

    1. Why is it always someone else’s responsibility for your well-being? It’s not any corporations responsibility to plan for you retirement for you. I didn’t expect Social Security would last till I retire and started my retirement planning when I was 21 (41 years ago). While I’ve take advantage of every possible retirement options offered by the corporations I’ve worked for, I never expected it to be their job.

      1. well, if you prefer to go back to the good old days of getting a gold watch upon retirement, before the new deal and he advent of social security and unions effective enough to negotiate retirement packages… be our guest, but i don’t suppose your quality of life will be one you would either look forward to, let alone enjoy.

        those things came into being for a reason and america became a great and powerful nation in part because the majority of its workers earned good enough wages to eat well, have a comfortable roof over their head, and not live in fear of dying in poverty in their senior years.

      2. So you are in the Boomers the last generation were corporations had some plan for you to take advantage of. Currently in corporate america I work and the company charges large fees for my work but they aren’t sharing the wealth the lions share goest to corporate leaders that did nothing more than me but get lucky enough or were jerky enough to get moved to the top. But there is no way they do 100 Times what I do to earn money for the corporation but they get compensated 100+ times what I do.

  4. As impressive as a 5,000-point rise is, it’s somewhat irrelevant. The far more important metric is the percentage increase: and a 25% increase is great performance, whatever you think of the current President, and however much of the increase is attributable to him vs. his predecessor.

  5. This is bad news its a bubble worse than the .com bubble, its going to end badly.

    Dont believe the mainstream media, they said everything was ok in 2007 even the Fed Chairman came on record to say the economy was fine then few months later the economy collapsed and the Banks needed a bailout.

    As Warren Buffet said:

    Be fearful when people are greedy and greedy when people are fearful

  6. Nice to see the trajectory of the Obama recovery continuing. Though jobs are growing at a bit slower rate of increase. What a difference eight years make. Obama had to act quickly to save the country from depression, while all Trump has to do is ride the wave.

    1. Bull****. Obama did everything he could do to ruin the USA economy in the ground. I don’t give that man any damn credit. He will go down in History as the worst president ever!!!!!!!!!!!!!

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