Dow Surges With Biggest Gains on News of Best Holiday Shopping Season…

…The Dow Jones Industrial Average rose 5%, or more than 1,000 points, and recorded the largest daily point gain in its history. Meanwhile, the S&P 500 climbed 4.9%…. (more)

(Via CNBC) Retail is having its best holiday shopping season in six years, according to early data tracking consumers’ purchases.

Sales in the U.S. from Nov. 1 through Christmas Eve were up 5.1 percent to more than $850 billion, according to Mastercard SpendingPulse, which monitors spending both in stores and online via all forms of payment. Mastercard also said online sales during that time frame were up 19.1 percent from a year ago, in line with earlier reports that showed robust growth in e-commerce this holiday season.

And this all comes amid the latest fluctuations in the stock market, worries on Wall Street about a potentially slowing economy and a partial government shutdown. Consumer confidence remains strong, translating into robust retail sales, said Steve Sadove, former CEO of Saks and currently advisor for Mastercard.  (read more)

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104 Responses to Dow Surges With Biggest Gains on News of Best Holiday Shopping Season…

  1. amwick says:

    Is Wall Street shaking hands with Main Street?
    asking for a friend.

    Liked by 20 people

    • fleporeblog says:

      It is starting! Wall Street realizes there is nothing they can do to stop 🛑 the Economic Train 🚂! They also realize that the remainder of the world will pay a severe price for their stupidity if they continue.

      I wrote this last night and will share it again today because we are seeing MAIN STREET destroying WALL STREET!

      It is absolutely amazing to see the disconnect at this point in time between Main Street versus Wall Street. The Economists and talking heads aren’t able to explain it because it is completely foreign to them. The data they are reading suggests we are headed for a major recession when the look solely at the Markets. The Global Economy is in far worse shape than ours. I have no doubt that Germany 🇩🇪 and France 🇫🇷 will be in a major recession in about 6 months. The same can be said for Canada 🇨🇦.

      Never forget the fact that 70% of our real GDP rate comes from Consumer Spending.

      Sundance is right that China 🇨🇳 front loaded a lot of their trinkets in the third quarter knowing that our 25% tariffs were going to begin on January 1st. Also keep in mind that China 🇨🇳 just recently began to buy our soybeans and pork. That will be felt in the 1st Quarter of 2019.

      The third and final estimate for the 3rd Quarter was released on Friday. The real GDP rate feel by 0.1% to 3.4%. A very solid number.

      You can find the report below:

      https://www.bea.gov/news/2018/gross-domestic-product-3rd-quarter-2018-third-estimate-corporate-profits-3rd-quarter-2018

      From the article linked above:

      The deceleration in real GDP growth in the third quarter primarily reflected a downturn in exports and decelerations in nonresidential fixed investment and in PCE. Imports increased in the third quarter after decreasing in the second. These movements were partly offset by an upturn in private inventory investment.

      PCS IS ANOTHER LOOK AT INFLATION USING A DIFFERENT LENSE THAN CPI

      The price index for gross domestic purchases increased 1.8 percent in the third quarter, compared with an increase of 2.4 percent in the second quarter (table 4). The PCE price index increased 1.6 percent, compared with an increase of 2.0 percent. Excluding food and energy prices, the PCE price index increased 1.6 percent, compared with an increase of 2.1 percent.

      Last year the 4th Quarter was initially released at 2.6%. The 2nd Estimate had it fall to 2.5% while the 3rd and final Estimate was 2.9%.

      The Atlanta Federal Reserve currently is predicting the following for the 4th Quarter:

      Bottom line is that our President in his second year is going to accomplish what BHO couldn’t do in 8 miserable years and that is to have an Annual real GDP rate > 3% for 2018.

      The MSM, Democrats etc. will be out in full force on January 30th when it is released. They realize the optics are terrible when it never happened under BHO and the last time was 2005. They will tell you it was a sugar high from the Tax Reform Bill and that it will not be reached again because the world economy is contracting. They will point to the Markets to try and paint a picture.

      It is ALL a lie because Main Street is WINNING again and they account for 70% of our real GDP rate. As more and more businesses come home, more and more products are made here. Shrinking our imports while our exports will continue to rise because of the trade deals.

      We haven’t seen anything yet! It is a year or two away!

      Liked by 30 people

      • fleporeblog says:

        Liked by 26 people

        • fleporeblog says:

          China 🇨🇳 realizes they have lost and are doing everything humanly possible to save face and their paper economy!

          From the article linked above:

          China announced another round of tariff cuts, lowering import taxes on more than 700 goods from Jan. 1 as part of its efforts to open up the economy and lower costs for domestic consumers.

          There will also be cuts to some export tariffs, and temporary import tariff rates will be as low as zero for some goods, the Ministry of Finance said in a statement on Monday.

          The ‘temporary’ rates can be changed ad hoc and can be lower than the current Most-Favored Nations standard though they are also available to all World Trade Organization members.

          Key Insights

          This is the third round of tariff cuts announced this year, as China looks to cut costs for consumers and implement President Xi Jinping’s promises to open up further.

          U.S. exports will get the benefit of the reductions as well, although most products will still be subject to the retaliatory tariffs until there is a breakthrough in the ongoing talks.

          Liked by 15 people

          • starfcker says:

            Here’s something else, Fle. Every single person they have on TV is what we used to call a technical analyst. Nobody is what we used to call a fundamental analyst nobody’s looking at the companies and what they do oh, they’re just expecting inflation to lift their boat. In other words most these guys are clueless

            Liked by 9 people

            • fleporeblog says:

              The blind leading the blind!

              Liked by 3 people

              • Clarence Smith says:

                MSM Business news was so pi$$ed off today. They had to trash can all those prepared videos about the worst market collapse in US history. How the recession is around the corner. And how people’s 401ks have been erased. “Wait what? The biggest single day gain in history??? Dammit! Do we have any Trump is going to jail clips ready to go? Is Avenatti still around?”

                Liked by 8 people

        • MJ says:

          I agree with your analysis which is as usual logical and insightful. I would add that it seems quite obvious (to me and I am not prone to conspiracies) that the Fed as well as other parties are purposely trying to sink the USA economy. The problem the Fed faces is that soon their policy will become too transparent to the larger public because they are only being successful in slowing it. After the rates and government securities (quantitative easing) are normalized anything else that is done will be too glaringly obvious as harmful to the economy. It is amazing that the economy is strong enough to keep chugging along with all the drag that they are throwing at it.

          Liked by 14 people

        • Mark L. says:

          This is a new day in America. Energy independence, Low inflation, Low unemployment, wage growth, holly shit look out Wall Street.

          Liked by 4 people

      • According to the Dims it did happen under Obama, only it’s just showing up now- sort of a back to the future thingy.

        Liked by 7 people

      • amwick says:

        TY Fle, that is a lot to consider… I am thinking… hmmmmmmmmmmmmm

        Liked by 2 people

    • Dutchman says:

      Actually, no. IF I’m getting it right, in Sundances Maganomics 101, (struggling mighty to keep a “C”), there is the stock market, which includes stocks from ‘main street’ companies, and ‘wall street’ companies, and its like seperating the egg yolks and whites; we are still in the process.

      I’m assuming its gonna take awhile, and liable to be a rocky ride, but in order to seperate the yolks and whites, you got to break some eggs?

      Liked by 5 people

      • VoteAllIncumbantsOut says:

        For the love of God, the federal reserve was set up in 1913 properly, they were set to buy corporate paper. In 1914, when WW1 broke out Congress took them over instructing them to buy Government bonds and since then we have had nothing but socialism.

        The fed was trying to prevent this along with other previous shocks to the market, they also new that Marxism was creeping into our congress and so they created the Federal Reserve Act to expand capitalism and block Socialism. They don’t teach you this stuff in schools for a reason.

        That’s why we have 12 banks around the country to adjust interest rates according to locations but thanks to Congress, that is no longer available.

        Stop blaming the FED and blame Congress! We have a uni-party for a reason.

        Like

      • G. Combs says:

        Actually there are THREE markets!

        One is Main Street. Remember that over half the jobs are created by SMALL BUSINESS. Small businesses in many cases are self-financed. Therefore if you give small businesses tax relief, regulation relief AND relief from Obummercare, PLUS great sales, then they can plow the excess money earned back into the business.

        The second market is what most think of as ‘Wall Street’ You buy stock and that stock pays dividends. For example, AT&T back in the 1960s, 70s before it was broken up, was a really great stock for the small investor because it paid 10% dividends and you could have those dividends automatically re-invested. Other US ‘Blue Chip’ stocks were also good long term investments for people saving for retirement.

        The third market is the casino market of derivatives.

        Liked by 2 people

  2. Monticello says:

    Drill baby drill!

    Liked by 8 people

  3. sundance says:

    Liked by 19 people

  4. FofBW says:

    Oooops!

    Now what will the dems use to claim PT and the shutdown will destroy the economy??!

    Liked by 11 people

  5. Dutchman says:

    So POTUS reccomends people buy the dip. Some do, and profit.
    Insider trading by proxie?
    I’m sure Mueller is on it, already.

    Liked by 7 people

  6. Dee Paul Deje says:

    “The Dow Jones Industrial Average rose 5%, or more than 1,000 points, and recorded the largest daily point gain in its history. Dammit.” MSM

    Liked by 10 people

  7. sundance says:

    “Miraculous”??

    Liked by 10 people

  8. MAGAbear says:

    Years ago I argued with someone who suggested that playing the lottery is just as moral as playing the stock market. I disagreed with them back then, but in retrospect they were right. The market manipulators tank the market before Christmas and then it magically goes up the day after Christmas. Just a coincidence I’m sure.

    Liked by 3 people

    • The excuse in the Commodity Markets for wild swings during this ‘ week’ was always “thin trading because all the traders were on vacation”. I don’t think so anymore. Gasoline up almost 10 cents in one day. Today. Wow.

      Liked by 3 people

    • Steve Herman says:

      Shutdown the hedge funds, no more shorts or longs. No more derivatives. All hedge funds do is drive up VIX thereby turning the stock market into a casino.

      Day traders can’t be stopped so easily, but can be taken out by simple trading rule changes. ie 40% tax on any profits from stocks held less than 5 business days. These profits or losses have to be reported monthly and taxes paid in 5 business days.

      Return to the days of companies’ stock prices being based upon their valuation and future prospects.

      I’m willing to deal with volatility due to our economy moving from Wall Street to Main Street, but hedge fund managers and day trader induced volatility is unnecessary.

      Liked by 1 person

      • CirclinTheDrain says:

        No more shorts or longs ?? Without both, there is no market. You may want to learn more before you post more about the market.

        Like

        • lemmus1 says:

          …yes and no …without longs there would be no market

          …but shorts have been banned many times in markets and the markets remained …they’ve always been brought back though, with additional restrictions, because of the ‘players’ demand for a less restrictive market with more investment vehicles …whether that is good or bad depends on your perspective

          …just because the market without shorts won’t be recognizable to a large portion of the ‘players’ doesn’t mean it won’t exist or that we will be necessarily worse off as a result …there are economists on both sides of the question …aren’t there always?

          …hedge funds, which is what was actually being addressed imnsho, are another story

          Like

      • lemmus1 says:

        ^^^^^^THIS!^^^^^^
        …unnecessary and dangerous
        …re-implement the Glass–Steagall legislation separating commercial and investment banking …make the hedge funds play with their money instead of ours …shut the global casino down

        Like

  9. mikeyboo says:

    People may have lost faith in the stock market BUT they have not lost faith in this President-hence Christmas shopping and huge rally. As Sherlock would have said: Elementary Watson!

    Liked by 8 people

    • Dutchman says:

      The only shock here, is that evrryone is shocked.
      Tax cuts putting more $ in deplorables pockets.
      JOBS, good paying manufacturing jobs, not no 3 part time minimum wage obama jobs; 250,000 manu, 2 MILLION all told, ‘created’in last year, putting more $ in deplorables pockets.

      WHAT did they THINK we were going to do, with all that ‘extra’ income, especially after 8 years of obama grinch
      ‘Hollidays’?

      Spend, baby spend!

      Liked by 11 people

  10. Abster says:

    Wow, what a roller coaster. I’ve been afraid to look at my accounts!

    Liked by 3 people

    • Dutchman says:

      Just remember PAPER profits/ PAPER losses.

      Liked by 5 people

    • rashomon says:

      Best advice I ever from a seasoned investor: don’t look. If you’ve invested in the right companies, they are well experienced in these chaotic markets that only benefit the traders and the bankers who fund them. Slow. Steady. Stable.

      Aren’t the “experts” and “pundits” having fun raising money off this chaos. If PDJT brings stability to the U.S. economy, their casino dies off. They’ll have to find a REAL job. So sad.

      Liked by 4 people

  11. Anonymous says:

    MAGA!

    Liked by 6 people

  12. Dora says:

    Amazing!

    Liked by 11 people

  13. snailmailtrucker says:

    “Dow Jones Soars 1,086 — BIGGEST POINT GAIN EVER!”

    AND BOY ARE THE DEMOCRATS PIZZED !

    Liked by 3 people

  14. Reality says:

    What concerns me is the fragility of markets when confronted with a tiny rise in interest rates.
    Does this indicate massive gearing everywhere in markets and existing derivatives? I think so.
    Does a 1% interest rate rise collapse Main St, of course not. Any business that is that close to the edge will fail due to any number of other existing reasons.
    Interest rates are way below some sort of normal number because of Keynesian QE economic rubbish that will eventually fail under the weight of its money printing.
    Nice sugar shot, then we get diabetes.
    Margin bets on margin bets totalling 10,000 x the value of the underlying commodity must eventually collapse.
    Nothing expands exponentially forever, yet the Masters of the Universe demand this must happen.
    Sorry fellows.

    Liked by 3 people

    • lurker2 says:

      IMO there’s a huge problem with computerized trading. Those programs are only as good as the people who came up with the algorithms, and it seems mistakes and bad decisions are grossly magnified, as are over-reactions.

      Liked by 3 people

  15. visage13 says:

    Does this gain wipe out the losses from last week?

    Liked by 2 people

  16. V.I.G. says:

    1000 point gains, dont happen in Bull markets.

    This was the mandated dumping of 64billion in pensions, from stocks, to bonds.

    1000 points in one day, is ridiculous and not in a good way. A bunch of pensioners, are about to be hoodwinked, out of a lot of money.

    Like

  17. rustybritches says:

    Over the last several months My little trust lost all of the money it made in 2017 and I still believe that during this time of drastic drops is when Wall street was up set that one of the Trump admins advisors told them to keep their nose out of the China trade deal and if they didn’t they would be in big trouble that’s when I begin to see the major drops along with what the Fed was doing in raising rates. one of the Dems on Fox this after noon was talking about how good the down turn in the market was going to be for the Dems when they started running They would hang this around Trumps neck so he said but now today he was not sure if that would be possible and the only thing the jerk anchoring the show could say was that Obama never picked on Yellen but he did. He just flat out told her not to raise rates and that was final.. but when ever the president just says he that is not happy about something the Media makes it sound Like he is going crazy and will start firing everyone in his sight and please forgive me but sometimes I wish he would do just that

    Liked by 5 people

  18. joeknuckles says:

    This was after starting 200 points down. I still will never buy stocks. Most people buy them, then wait for the price to drop, then sell. How idiotic.

    If anybody ever figures out a way to buy stocks with other people’s money and rent them out for a profit while paying the loan down, let me know. In the meantime, I’ll stick with real estate.

    Liked by 3 people

  19. uptothere says:

    Obvious the short sellers got caught “short” on this huge rally. I only hope Soros and others lost their behinds for pushing this bear market just to hurt Trump.

    Liked by 3 people

  20. joeknuckles says:

    The drive-by top of the hour news on the radio is claiming the surge is because Hasset stated that Powell’s job was 100% safe. Yes, that is actually the story they are pushing. It’s not because of the strong retail sales report or the strong economy, it’s because they like the jackass that keeps raising rates and want him to stay and raise them more. Unbeleivable.

    I guess it was the only spin they could come up with that would make Trump look bad to the idiots dumb enough to beleive the fake news.

    Like

    • Spectre says:

      At 10:20 AM today, market had given up 200 points and was slightly down. Hasset said Powell and Mnuicin were 100% safe and rally ensued, driven higher by ALGOs. That’s what happened.

      Last night when WSJ story hit about record Xmas sales, futures bumped up slightly and then were down 200 most of the night.

      Like

    • Spectre says:

      To be fair, Joe, to the point you’re making – I think there’s also been a sense building in market that the FED will not be raising rates anymore in 2019. An influential investor today was saying that it might even be possible that the FED will cut rates. So there were a lot of things going on, including a lot of shorts that were caught off sides as Uptothere mentions above.

      Wasn’t trying to. counter what you were saying. CNBC and others in financial media have been trying hard to talk down the market. One of their major fake news memes has been that Powell and Mnuicin were about to be fired.

      Merry Xmas.

      Like

      • joeknuckles says:

        Ok. Like I said, I’ll stick with real estate. I assume anything I hear on the fake news is BS.

        Like

        • Steve Herman says:

          Joe, my brothers, who are small contractors, are the same way, they buy homes and rentals. But they also have several kids they can press into service to maintain the properties or prep for showing to new renters. I don’t have that luxury, in addition, I traveled and worked many weekends away. For me wrapping my head around the stock market and its nuances over the last 40 years were more in my wheelhouse.

          Like

          • joeknuckles says:

            Yeah, that’s what son-in-laws and brother-in-laws are for. Also, if you go into an affordable enough market (not here in the Bay Area) you can get enough cash-flow to let a PM handle all that stuff.

            Like

      • starfcker says:

        The FED won’t be cutting rates. You can take that to the bank

        Liked by 1 person

  21. kea says:

    YES!!!!

    Best part is MSM claims its because ‘Trump has not tweeted’ and ‘its not a sign of things to come’. LOL

    Like

  22. joeknuckles says:

    My pension fund that I spent 30 years building up during the time I had a real job got wiped out in the 2008 market crash and has been critical ever since. It won’t amount to much more than a pittance when I finally retire. On the other hand, if I play my cards right, my investment real estate will support me fairly comfortably for as long as I live no matter what the market does. I’ll also be able to leave it to my kids so they will be able to retire as well.

    Liked by 1 person

    • WES says:

      Joe: There is much to be said for investing in something you can see and understand such as real estate.

      As my Grandfather said if you are going to bet, it is better to bet on a grey hound than a horse. When betting on a grey hound race, you are only betting on the dog! When betting on horse races, you are betting on the horse and the jockey!

      The first and last time I ever bet on a race was ,a grey hound dog race. My dog bolted out of the gate a few feet and then stopped to go to the bathroom! LOL!

      Liked by 1 person

      • joeknuckles says:

        That sound like my pension fund. It took a dump, too. LOL

        Like

        • WES says:

          Joe : My life’s savings got pretty much wiped out by 2008 too. Zero interest rates then wiped out even more savings after 2008. So know what you have gone through. Unfortunately I am not young enough nor have health (going deaf & blind) to recover. Hope you succeed..

          Like

    • Skippy says:

      I have always felt that morally, the right step to take for the middle class in the 2008 market crash would have been to allow such loses to run present (i.e. 2008) and forward as federal tax deductions for total amount loss. Many of us got hurt badly in 2008 and beyond, while the wealthy, the banks, the market and the Feds made out like bandits and still are.

      Like

  23. Roger Scott says:

    The corrupt short-sellers – such as Soros and the leftist institutions, with the Fed – have panicked to cover their open positions/engineered crash – sending the Dow up a record 1086 points – in fear of Deplorables’ buying. Watch for another assault by the Fed and these thugs.

    Like

  24. Franklin says:

    It is great the stock rallied but this needs to be looked at in terms of the overall economy. There are too many mixed signals occurring in the US economic markets right now. The economic reporting has positive indicators and negative indicators. There are sectors that appear to be doing OK then there are other sectors which are not.
    The President is now signaling he supports Powell and Mnuchin. The Fed has not signalled that it will stop raising rates or cut rates.
    It would have been nice if the stock market established a support level and tested that level over the next month. This looks more like a “bear trap” then a rally. Rising interest are still a big drag on the economy.

    Like

  25. Gregory Jenkins says:

    Does anyone have any idea what the US Dollar is going to do in the near future and say over the next 2-3 years?

    Like

  26. Right to reply says:

    Some interesting facts from the Socialist UK.
    Tax Income in GBP 775.8 billion

    Education costs 42 billion
    Healthcare costs 200 billion
    Pensions and benefits 500 billion
    Housing 23 billion

    The UK is broke!

    Like

  27. Kevin Cowlishaw says:

    Chucky and Nance are not going to like that one little bit

    Like

  28. rightmover says:

    I wouldn’t celebrate this yet. Any time a market that has been really volatile has a huge up day, inevitably there is a big down day that follows sometime over the next few days. And believe me, I hope I’m wrong.

    Like

  29. mari says:

    So if the President was responsible for the fall in the Dow, is he responsible for the the giant increase too? Or is he only responsible for the dips. The Liberal incongurent dissonance has made them lose all credibility.

    Like

  30. DonL says:

    Once again, the market reacts (merely corrects itself) and doesn’t lead.

    Like

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