Subj : Stock Market
To   : Mike Powell
From : Mike Miller
Date : Wed Aug 07 2024 13:20:24


Hello Mike!

07 Aug 24 08:43, you wrote to all:

 MP> So did anyone else wonder if there was a direct connection between the
 MP> Democrats announcing that Harris is officially their presumptive
 MP> candidate and the stock market plunging earlier this week?

 Stock markets react in real time.  If it was a direct connection, this dip would have happened on July 22.  It didn't. It held fairly steady for the 2 weeks since Biden dropped out.

Last Wednesday, the Fed announced it was not going to be cutting rates this term.  (Next meeting is in September)  Investers seemed to expect that, so Thursday and Friday the market held.

Until the jobs report came out on Friday after the market closed.  Fewer jobs created than expected, with a slightly higher (but still incredibly low) unemployment rate caused a panic.  Hence the drop on Monday.


 MP> I do not believe it is a coincidence.

 You really want to blame anything you can on Biden, don't you?   My keg in my kegerator also ran empty on Monday, and I don't have anything ready to replace it with. Maybe we can blame that on him, too?

Although as I type this, Hulk Hogan is about a mile from my house hawking his new beer at a Wal-Mart.  Maybe Trump did it, and is trying to get me to buy The Hulkster's brew.
(Most reviews compare it to Miller/Bud/Coors/Busch Light beers and say it's surprisingly flavorful, but still pretty lackluster as a lager goes.  Yes, I'll likely pick some up at some point just to try it, even if the cans violate the US Flag Code. )






Mike


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