The S&P 500 and Nasdaq dipped on Thursday as a slew of economic data showing a post-COVID-19 “V-shaped” recovery accelerated fears of rising inflation.
The S&P 500 dipped on Thursday as a raft of upbeat data fanned fears of rising inflation, eclipsing reports that President Joe Biden has offered to scrap his proposed corporate tax hike.
Major stock indexes pared losses, with the Dow rising 0.1% after reports of the major concession by the Democratic president. Biden’s offer came amid talks with Republicans on an infrastructure package, a source familiar with the matter said.
“The tax structure now has gone from headwind to a tailwind,” said Rob Sechan, managing partner and co-founder of NewEdge Wealth.
A measure of service sector activity increased to a record high, pointing to a robust economic rebound. The strong data could force the Federal Reserve to pare back its crisis support sooner than expected, despite central bank officials’ reassurances to the contrary.
Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet were among the biggest drags on the benchmark S&P 500 as the high-growth stocks, whose future cash flows are discounted when interest rates are higher, fell.
MacDailyNews Take: Again, if you know how, it’s best to get a handle on inflation, while you still can.
Inflation is repudiation. — Calvin Coolidge
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan
NOW THEY’RE WORRIED?
Followed you for many years on MacDailyNews. I’ve always enjoyed your insights.
Thanks you stupid libturds. You are too stupid to comprehend the damage you have done
Not ust liberals. Republicans did not prevent massive expenditures, Trump participated in the spending.
We’ve been breaking the bank since the 80’s…both R & Ds. The pandemic spending has put us in the highest historical bracket of debt to GDP since WWII…and spending in the name of stimulus, isn’t complete.
Investments in land, fine art and gold have been the top 3 sectors to preserve generational wealth for centuries. Many intelligent people think BTC will factor as a true “hard money” and store of value.
…and how is it best to handle inflation? Real Estate (what if they increase taxes on it)
Gold (what if everyone skips Gold in favor of Bitcoin?)
Bitcoin? (What if Bitcoin becomes more and more regulated by governments like China?)
Some inflation is a good thing. This will be temporary as competition will force lower prices. We have had low inflation by forcing people to work for below living wages. A worker shortage and public scrutiny is changing that, albeit too slowly. Trump spent like crazy transferring trillions to the upper class who did nothing to help the economy. His inept handling of the pandemic made it all the worse. At least now funds are flowing to everyday Americans. Biden’s infrastructure proposals are fully paid for, something Trump Republicans never considered.
Absolute rubbish…”fully paid for.”
2019_Highest Latino, African Am and Asian employment IN HISTORY. Median Black household incomes rose to their highest levels on record and pushed Black poverty rates down to their lowest levels. Yeah, these facts “did nothing to help the economy.”
Since the 80’s, we’ve had plenty of inflation…asset inflation. It benefitted “the haves.” This system was supported and designed by DC bureaucrats of all flavors. Asserting it’s one person’s lap is nothing but partisan blindness and economic ignorance.
“Some inflation is a good thing.”
You managed to hit all of the talking points. You must be young and stupid.
Yes, I was going to say, he must be satisfied with the allowance allotted by his parents.
Per inflation being good, he needs to poll those on the lower economic strata. They don’t have the cushion to absorb such a “good thing.”
Stupid response. Economists understand why the Fed target inflation rate is 2%. It provides a buffer against disastrous deflation. But by all means, out yourself as an argumentative ignorant assh0le.