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Markets down less than 1% now. 

Were the tax hikes on those making more than $1,000,000 a year in income already priced in?

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Invest in California Moving Vans!!!
It's california.....so does anyone make electric moving vans?

I think during the campaign Biden promised to raise capital gains taxes but did not give a specific number.

Papa B go ahead and use some of that extra income to pay my student loans kthnx

Markets down less than 1% now. 
Were the tax hikes on those making more than $1,000,000 a year in income already priced in?
Everything's priced in...tax hike, hedge funds collapsing, banks closing across the us in bulk...all factored in, keep throwing that money in
7 minutes ago, washparkhorn said:

Markets down less than 1% now. 

Were the tax hikes on those making more than $1,000,000 a year in income already priced in?

Possible that markets realized Presidents propose lots of shit, most of which doesn't become law. You think a single GOP or Manchin/Synema...etc. will agree to a 40+% tax rate?

Edited by Storm the Field

The market reaction is rather tame for a proposed 43.4% tax rate


Market pros are saying it would be down 2,000 if the market thought it would pass the Senate.

There’s you answer.


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1 minute ago, TxTower said:

Market pros are saying it would be down 2,000 if the market thought it would pass the Senate.

There’s you answer.

 

Thanks. Which market pros, if you can divulge?

This feels like a leaked trial balloon. 

Just now, washparkhorn said:

This feels like a leaked trial balloon. 

Bingo. It's the Washington 2 step. Leak. Ask for 45. Settle for 30. Call it a win. Blame the other party. Rinse. Repeat.

Bingo. It's the Washington 2 step. Leak. Ask for 45. Settle for 30. Call it a win. Blame the other party. Rinse. Repeat.

Yep


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This feels like a leaked trial balloon. 


That’s exactly what this is. “Reports” said Biden would raise CG rate.


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I don't see reporting on whether there (1) is a new rate for only people making over 1M or (2) are new rates across the board with the highest rate being 43.4

3 minutes ago, CDAK said:

I don't see reporting on whether there (1) is a new rate for only people making over 1M or (2) are new rates across the board with the highest rate being 43.4

That's because there is no proposal. It's a leak "sources close to the White House have suggested..."

Yeah, fair. I just thought the leaker would convey the entire rate sheet, rather than just the top line. 

2 hours ago, CDAK said:

Yeah, fair. I just thought the leaker would convey the entire rate sheet, rather than just the top line. 

Leaker just wanted to buy some stocks.

23 hours ago, Wally Fairway said:

never mind which, stocks only go up & there'll be a new record close next week

No matter FOMO and TINA still in the driver's seat

I'm not saying I was right, but I'm permitted away from being pretty fucking right. So I should sell before fate spites me, again.

Also, this talk of people selling billions in stocks with unrealized capital gains to post lower taxes is crazy, as those sale proceeds (net of taxes due) will go right back into the market. Creating another plunge & spike scenario.

Rinse, wash, repeat

 

 

Big day tomorrow for the markets with the Fed meeting. Stay frosty and good luck.

JPow needs to come out today and do his best Stevie Wonder and tell everybody - Don't you worry bout a thing, don't you worry bout a thing mama, Cause I'll be standing by your side 

Ohhh, ahhhh, brrrrrr, yeah baby cause I'll be waiting in the wings

 

No change by the Fed. Transitory inflation at present. No taper or purchases, yet. No interest change, yet.  Still work to do, but the US is well positioned with our vaccination efforts on COVID. 

  • 2 weeks later...

Disappointing April jobs report compared to expectations and previous two months gives the Fed some breathing room on rates.

But inflation is already in the system and it’s coming.


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Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.

All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.

https://www.bloomberg.com/news/articles/2021-05-06/asia-stocks-set-for-muted-start-after-u-s-gains-markets-wrap

Spoiler

Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.

Spoiler

The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.

Spoiler

“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”

And the brrr goes on . . .

Visit Bromo | Wisata Bromo | Bromo Tour | Paket Bromo: Protein Printer Goes Brrr

Edited by washparkhorn
Link added.

I think the interest rate concern is the main source. This gives feds some justification for leaving it.

On 5/7/2021 at 2:45 PM, washparkhorn said:

Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.

All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.

https://www.bloomberg.com/news/articles/2021-05-06/asia-stocks-set-for-muted-start-after-u-s-gains-markets-wrap

  Reveal hidden contents

Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.

  Reveal hidden contents

The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.

  Reveal hidden contents

“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”

And the brrr goes on . . .

Visit Bromo | Wisata Bromo | Bromo Tour | Paket Bromo: Protein Printer Goes Brrr

People are spending their dicks off.  Strolling down Michigan Avenue large groups are waiting in absurd lines to spend money wherever the hell they can.  Feels weird.  I still don’t think inflation becomes a huge problem.  But it does give me some pause...

38 minutes ago, ChiTownDoc said:

People are spending their dicks off.  Strolling down Michigan Avenue large groups are waiting in absurd lines to spend money wherever the hell they can.  Feels weird.  I still don’t think inflation becomes a huge problem.  But it does give me some pause...

Michigan Ave. is going to Michigan Ave. - as the fine people of Willmette and Winnetka need somewhere to flaunt. But we need spending to get the system functioning across all sectors. That was a deep ditch:

Chart of Real GDP: Percent change from preceding quarter

fucking markets still falling like whoa

1 hour ago, Parliament said:

So what wasn't priced in today? And why is the Brrrrrrr machine broke down?

some of the worst inflation data we've seen in 13 or 38 years, whichever you like.  

My account has been getting the NowThis treatment for the last 10 trading days.

1 hour ago, Parliament said:
3 hours ago, Cheeseweasel said:
Welcome back to the 70's. I hope the music is as good.

And the drugs

And musky beaver pelts

Sincerely, Brat

24 minutes ago, Wally Fairway said:

And musky beaver pelts

Sincerely, Brat

I think Brat is more Renaissance merkin kinda guy. Based on age.

2 hours ago, Wally Fairway said:

And musky beaver pelts

Sincerely, Brat

Yeah that would be 1870’s.  Literally trapping beavers, that guy...

Question for the crew, are we at a point of market stagnation? 

Has the economy/market snapped its long climb from the pit; and does this mean we are back to trying to pick individual stocks?

Or am I being optimistic, and we really are in for a market correction?

18 minutes ago, Wally Fairway said:

does this mean we are back to trying to pick individual stocks?

Whew. That seems risky without clear winners. 

I think we are in for a very volatile 6 -8 months. Corrections will come but are going to be impossible to predict as the world opens up.

I'm looking HARD at the international markets as a hedge against some of the correction. The US has been in a bear market for way too long but International has been bullish. 

3 minutes ago, Cheeseweasel said:

Whew. That seems risky without clear winners. 

I think we are in for a very volatile 6 -8 months. Corrections will come but are going to be impossible to predict as the world opens up.

I'm looking HARD at the international markets as a hedge against some of the correction. The US has been in a bear market for way too long but International has been bullish. 

So many countries are dealing with another wave of COVID right now. 

I think it’s time to pivot towards international developed stocks, and begin thinking about accumulating emerging market stocks. 
 

I’m playing on value stocks as a theme given that they may succeed more in an inflationary environment and tend to pay dividends. I’m in the accumulation phase of my life but for now I’m gonna start leaning on VYMI and DVYE with my biweekly purchase programs. 
 

one thing to be aware of when buying emerging market index funds like IEMG is the weighting they hold towards Chinese tech. It’s something like 20% China tech. Lately their government has not been playing nice with their tech companies so I am happy to stay away from that. 

25 minutes ago, Coelenterate Fuccboi said:

So many countries are dealing with another wave of COVID right now. 

Europe is opening up. That's the big area to look at.

Just now, Cheeseweasel said:

Europe is opening up. That's the big area to look at.

That is my international play this summer/fall. Just hope this Asian shitshow doesn’t spread to Europe.

2 hours ago, Wally Fairway said:

Question for the crew, are we at a point of market stagnation? 

Has the economy/market snapped its long climb from the pit; and does this mean we are back to trying to pick individual stocks?

Or am I being optimistic, and we really are in for a market correction?

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On 5/19/2021 at 7:16 AM, Cheeseweasel said:

he US has been in a bear market for way too long

Da fuq?  We were at all-time highs 18 days ago.

2 minutes ago, Fudge Nuggets said:

Da fuq?  We were at all-time highs 18 days ago.

Penny stock bear market

I was going to bail on some of my high risk names before the close, but I chicken out; as I don't really have any good ideas as to where to put the reinvestment.

And this is how I feel about it

You arrogant ass. You've killed *us*! - Andrei Bonovia - quickmeme

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