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Topic: Wall Street Surges Amid Fiscal Relief |
Wall Street Surges Amid Fiscal Relief
Fox Business, by Adam Samson
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Original Article
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Posted By:JoniTx, 1/2/2013 10:14:25 AM
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| The markets soared in the first trading session of the year as Wall Street traders breathed a collective sigh of relief that lawmakers finally passed legislation to avert the fiscal cliff. As of 9:32 a.m. ET, the Dow Jones Industrial Average surged 192 points, or 1.5%, to 13294, the S&P 500 soared 22.6 points, or 1.6%, to 1449 and the Nasdaq Composite rallied 75 points, or 2.5%, to 3095. After months of political sparring on Capitol Hill, lawmakers finally passed a budget bill Tuesday. The move came after essentially 24-straight hours of wrangling in both chambers of Congress
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Reply 1 - Posted by:
Country Boy, 1/2/2013 10:31:02 AM (No. 9094577)
Yes but ... rates on 10 year U.S. Treasuries are up 86 basis points this morning. That´s a massive 4.9% loss in principle.
In the longer term, bonds and stocks will move in the same direction. Today, one of them is going in the wrong direction.
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Reply 2 - Posted by:
BaseballFan, 1/2/2013 10:37:43 AM (No. 9094592)
The Dow spikes.... which means the rich are getting richer. Oh, the humanity!
/s off/
#1 - yes, there is a loss in "principle". I blame the D.C. cesspool.
But there´s also a loss in principal, financially speaking. *wink*
Can hyperinflation be far behind?
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Reply 3 - Posted by:
FL_Absentee_Voter, 1/2/2013 11:01:36 AM (No. 9094648)
Like a junkie scoring another hit of smack...
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Reply 4 - Posted by:
KTWO, 1/2/2013 11:34:17 AM (No. 9094734)
To be expected. Almost any government deal, even a bad one, produces a similar surge. Uncertainty and paralysis is what stocks hate.
And if your portfolio is somewhat balanced you will lose money on government bonds today. And everyday to inflation.
Nothing got fixed. But many are relieved that a worse deal wasn´t made.
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Reply 5 - Posted by:
Rotten In Denmark, 1/2/2013 11:46:56 AM (No. 9094760)
It is not too late to buy silver and take actual possession, no paper receipts, etc.
Buy either one troy oz. silver rounds or $1000 face value US Silver coins, easily purchased and a ready market to sell.
When folks start to think about inflation or how little the dollar buys it will be too late.
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Reply 6 - Posted by:
Rumblehog, 1/2/2013 12:27:02 PM (No. 9094830)
No, #5, it´s time to invest in steel and lead.
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Reply 7 - Posted by:
aposematic, 1/2/2013 2:18:39 PM (No. 9095023)
Hmmm... Now that the corruptocrats in DC have rushed us ever faster toward the real fiscal cliff--horrendous inflation, where else is a person to try and save what´s left of their shrinking savings. No, really, if anyone has a better place please share...
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Reply 8 - Posted by:
whyyeseyec, 1/2/2013 2:43:15 PM (No. 9095058)
A surging Wall Street means our 401(k)`s will take a larger hit when the big crash comes....
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Reply 9 - Posted by:
rocket scientist, 1/2/2013 6:48:58 PM (No. 9095498)
This stock surge is just as phony as most everything else in the news these days. I guess we Americans are supoosed to think, "Gee, I guess this fiscal cliff thing was a good idea! Look how high the market jumped the next day! "The market could just as well come down 300-600 points in the next week or two on "unexpected news".
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Reply 10 - Posted by:
Trigger2, 1/3/2013 6:59:05 AM (No. 9095993)
When reality hits the US market with all this tax and new spending and the economy slowly tanks, Wall Street will experience the same Black Friday as it did before the Depression. Mark my words.
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