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Old 08-05-2019, 01:51 PM  
Lex Luthor Lex Luthor is offline
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Trade Wars are good and easy to win. Dow drops 950 points.

Thanks Donald!

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Dow plunges more than 950 points after China devalues its currency

The Dow tumbled more than 950 points and global stocks were in disarray on Monday after China escalated the trade war with the United States.

The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the blow the United States has dealt China with its tariffs.

The weak yuan ignited fear on Wall Street that a currency war has begun or that the United States would respond with even higher tariffs, prolonging the standoff with China and potentially weakening the global economy. Investors are particularly concerned that the Trump administration could try to devalue the dollar, sparking a currency war that could weaken Americans' purchasing power.

"Risks of Trump intervening in foreign exchange markets have increased with China letting the yuan go," wrote Viraj Patel, FX and global macro strategist at Arkera, on Twitter. "If this was an all out currency war - the US would hands down lose. Beijing [is] far more advanced in playing the currency game [and has] bigger firepower."

President Donald Trump once again called China a currency manipulator on Monday, saying the yuan devaluation was a "major violation." Trump has long attacked China for its currency policy, even though the Treasury has refrained from officially labeling the country a currency manipulator.

China announced Monday its companies have halted purchases of American agricultural goods. That helped to drive stocks even deeper into the red.

US stocks were sharply lower, with the Dow (INDU) falling more than 950 points, sinking below 26,000 points for the first time since June. The Dow was on pace for its third-worst point drop in history.

The S&P 500 (SPX) traded 3.7% lower, and could post its worst day of 2019. The Nasdaq Composite (COMP) fell more than 4%, its biggest decline since October 24, 2018. If the Nasdaq closes lower Monday, it will have logged its longest losing streak since November 2016, when it fell for nine-consecutive days in the lead-up to the presidential election.

The S&P 500 is on track for six consecutive down days for the first time since October, while the Dow is on track for its longest losing streak since March. Last week, the S&P 500 and the Nasdaq Composite logged their worst week of the year last week.

Hit particularly hard were tech stocks. Apple (AAPL), Intel (INTC), Microsoft (MSFT), Nvidia (NVDA) and Advanced Micro Devices (AMD) were among the biggest losers on Monday.

The VIX (VIX) volatility index soared more than 30% to a seven-month high. The CNN Business Fear & Greed Index is indicating "Extreme Fear."
Asian markets all fell more than 1.6% Monday, and Hong Kong's Hang Seng closed down 2.9% as protests continue in the region. In Europe, London's FTSE 100 finished down 2.5%. Germany's DAX and France' Cac 40 closed 1.8% and 2.2% lower, respectively.

US government bonds rose and yields fell as traders looked for safe investments. The 10-year Treasury yield declined to 1.7413%. The yield curve — the difference between shorter and longer-term bond yields — grew the widest since April 2007. That inversion of the yield curve has predated every past recession.

Escalating the trade war

The yuan weakened sharply after the People's Bank of China set its daily reference rate for the currency at 6.9225, the lowest rate since December. The central bank said in a statement that Monday's weakness was mostly because of "trade protectionism and new tariffs on China." President Donald Trump threatened a new round of tariffs on the country last week.
Devaluing the yuan is one way China has of retaliating against the tariffs. A weaker currency helps Chinese manufacturers offset the costs of higher tariffs.

Analysts at Capital Economics said the move showed that Beijing has "all but abandoned" hopes for a trade deal with the United States.

In US economic data, the non-manufacturing index for July from the Institute of Supply Management undercut consensus expectations, which didn't help matters.
https://www.cnn.com/2019/08/05/inves...day/index.html
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Old 11-13-2019, 06:35 PM   #436
JohnnyHammersticks JohnnyHammersticks is offline
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Quote:
Originally Posted by Loneiguana View Post
You sound really triggered a market publication talked about Trump's flat day. That's okay, it's just something stupid people do.
If you call almost laughing myself to death "triggered", then I'm triggered alright!

Let me help you out Warren Buffoon. A flat day just means the DJIA (that's those big numbers that you hear people talk about on your TV) ended at the same price it started. It was down, then it was up, but it finished exactly where it started. Unusual for that to happen in the same way the lottery numbers matching your telephone number would be unusual - or like you counting to 15 without taking off your shoes would be unusual. I'm going to give you some free financial advise because I'm so nice.... first, delete your CP account. Then, stick to your Ranger Ricks because it's painfully obvious to those of us over 12 that market publications are way out of your league.
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Old 11-13-2019, 08:19 PM   #437
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Can somebody please post again where Obama did so well economically for this country when he inherited a market and economy that could literally only go up?

And it recovered at a historically slow pace to boot.

morons.
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Old 11-13-2019, 08:19 PM   #438
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Holy shit now they are celebrating flat "days" as a victory? You cant be ****ing serious?
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Old 11-13-2019, 08:52 PM   #439
Lex Luthor Lex Luthor is offline
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Quote:
Originally Posted by theoldcoach View Post
What the hell does any of this have to do with the ignorance of your post about the market closing flat day before yesterday??

In your attempt to show a faltering economy under Trump, do you not even realize how stupid that post was?

It might be the single dumbest post that I have ever seen on this board. And that takes in a lot of dumb posts!
When did I post anything about the market closing flat?

Answer: I didn't. You confused me with another poster.

Is this the same level of critical thinking and attention to detail you used when you decided that Trump is the most awesome President ever?
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"If you're going to give Trump all of the credit every time the stock market sets record highs, then you need to give him all of the blame every time the national debt sets record highs." - Lex Luthor, 11/30/19
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Old 11-13-2019, 09:00 PM   #440
theoldcoach theoldcoach is offline
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You are right. I typed lex and I thought I had changed it to “you” (directed to lone).

Obviously I didn’t get it changed. Sorry about that.

Now would you like to admit that you have never seen me post one time that I think that Donald Trump is the most awesome President ever? Or do you want to just continue to be dishonest about that?

I probably know the answer.
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Old 11-13-2019, 09:12 PM   #441
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Quote:
Originally Posted by Lex Luthor View Post
When did I post anything about the market closing flat?

Answer: I didn't. You confused me with another poster.

Is this the same level of critical thinking and attention to detail you used when you decided that Trump is the most awesome President ever?
Brainiac mocking someone about critical thinking in this thread he started.
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Old 11-13-2019, 09:14 PM   #442
Lex Luthor Lex Luthor is offline
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Quote:
Originally Posted by theoldcoach View Post
You are right. I typed lex and I thought I had changed it to “you” (directed to lone).

Obviously I didn’t get it changed. Sorry about that.

Now would you like to admit that you have never seen me post one time that I think that Donald Trump is the most awesome President ever? Or do you want to just continue to be dishonest about that?

I probably know the answer.
Your posts imply it all the time. However, if that's not what you think, this is your opportunity to clear that up once and for all.

Do you think Trump is an awesome President?
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"If you're going to give Trump all of the credit every time the stock market sets record highs, then you need to give him all of the blame every time the national debt sets record highs." - Lex Luthor, 11/30/19
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Old 11-13-2019, 09:19 PM   #443
theoldcoach theoldcoach is offline
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Quote:
Originally Posted by Lex Luthor View Post
Your posts imply it all the time. However, if that's not what you think, this is your opportunity to clear that up once and for all.

Do you think Trump is an awesome President?
Yes. I do. But I don’t think he is the most awesome ever. Which is what you said.

I don’t think he is the most awesome ever.................YET.
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Old 11-13-2019, 10:51 PM   #444
IowaHawkeyeChief IowaHawkeyeChief is offline
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Quote:
Originally Posted by Lex Luthor View Post
When did I post anything about the market closing flat?

Answer: I didn't. You confused me with another poster.

Is this the same level of critical thinking and attention to detail you used when you decided that Trump is the most awesome President ever?
Just got to my hotel... still don’t see the link showing Obama tripled the market...
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Old 11-13-2019, 11:00 PM   #445
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Quote:
Originally Posted by Lex Luthor View Post
Do you think Trump is an awesome President?
Yep ! He is awesome at "punking you Lefties" and beating you at your own Alinsky games !! "Hey do you still have your rock superstar Avenatti poster hanging on your bedroom wall?
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Old 11-14-2019, 01:25 AM   #446
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Lex.












































































You ignorant slut
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Old 11-14-2019, 02:03 AM   #447
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I can't wait to read Lex and the rest of the Useless Alinsky **** Society blather on about the "sanctity of the Constitution" in the coming days.
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Old 11-15-2019, 08:19 AM   #448
JohnnyHammersticks JohnnyHammersticks is offline
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How's the DJIA look today, anyone know?

Dow Futures Suggest Fresh Record Highs as Trade Optimism Sweeps Global Stocks

Wall Street looks poised to test another series of fresh record highs Friday as global investors react to bullish comments on U.S.-China trade talks from a key White House adviser and continue to push equities higher in major markets around the world.

The Friday Market Minute

Global stocks extend gains on fresh U.S.-China trade deal hopes, pushing markets back near multi-year highs.
White House economic adviser Larry Kudlow says "good progress" has been made in ending the sixteen month trade dispute, but offers little detail in terms of how key issues will be bridged.
A.P. Moller-Maersk, the world's biggest container shipper, sees improving 2020 traffic growth as trade picks up modestly and global manufacturing rebounds.
US equity futures suggest modest opening bell declines on Wall Street that could take all three benchmarks t fresh record highs ahead of October retail sales data at 8:30 am Eastern Time.

Market Snapshot

Wall Street looks poised to test another series of fresh record highs Friday as global investors react to bullish comments on U.S.-China trade talks from a key White House adviser and continue to push equities higher in major markets around the world.

More
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Old 11-15-2019, 10:39 AM   #449
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Lex the Eternally Sad and Incorrect.
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Old 11-15-2019, 11:03 AM   #450
Marcellus Marcellus is offline
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Whats amazing is this has only been the first 2.75 years. What could the market hit by 2024? 50,000?
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