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Federal Reserve Announces Bond Buy Program to End in Oct. Stock Market Rises

Discussion in 'News & Current Events' started by InTheLight, Jul 9, 2014.

  1. InTheLight

    InTheLight Well-Known Member
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    The Federal Reserve will end its monthly asset purchase program in October, ten months after it began the tapering process.

    After the requisite warning that “the current asset purchase program is not on a preset course,” the account revealed that the committee agreed “it would be appropriate to complete asset purchases with a $15 billion reduction in the pace of purchases in order to avoid having the small, remaining level of purchases receive undue focus among investors. If the economy progresses about as the Committee expects, warranting reductions in the pace of purchases at each upcoming meeting, this final reduction would occur following the October meeting.”

    http://www.forbes.com/sites/samanth...ts-a-date-to-end-its-monthly-asset-purchases/
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    There are many people on BB that think the stock market has been propped up by the Fed buying program, in fact, many think it is the ONLY thing that has caused the longish bull market. So what did the stock market do today after the policy decision to stop the purchasing program reached the press? Dow gained 79 points (.47%), NASDAQ up 27 points (.63%) and S&P500 up 9 points (.46%).

    So knocking out the supports causes the stock market to rise? In fact, the past several times the Fed has tapered the buying program the stock market has risen. Interesting theory, there.

    Maybe it is earnings that drives the stock market? Huh....And we are at the beginning of the earnings reporting season for Q2. Let's see what happens.
     
  2. thisnumbersdisconnected

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    As of 9:47 a.m. today (July 10, 2014) the market is down over 116 points. :rolleyes:

    I'm sure by the end of the day however, government money will indirectly find its way into the market to balance that out. :BangHead:
     
  3. poncho

    poncho Well-Known Member

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  4. InTheLight

    InTheLight Well-Known Member
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    The market is reacting to some news from today, not news from 48 hours ago. (And is now down 43 points. Must be reacting to the news that new unemployment claim filings are down 11,000 from a week ago, and approaching the level of claimants per week not seen since before the recession started.)


    Yes, and we're still waiting, waiting, waiting, for you to explain how the government puts money directly into the stock market. You've added a new twist--immediacy, meaning you believe the government can put money into the market at a moment's notice. Explain.
     
    #4 InTheLight, Jul 10, 2014
    Last edited by a moderator: Jul 10, 2014
  5. poncho

    poncho Well-Known Member

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    Amid all the talk of recovery by politicians, economic officials and big business leaders, the fundamental numbers behind all the propaganda tell a starkly different story.

    Home sales have dropped to record lows, more people are out of the workforce than anytime in the last 50 years, and cash-strapped consumers have run out of money to fuel economic growth.

    By all meaningful measures the American boom times of old are gone.

    A recent report from the Department of Health and Human Services suggests that we may have already reached the tipping point and that things are only going to get worse going forward.

    According to the HHS, nearly half of all Americans are now dependent on some form of government benefit just to put food on the table. And of our population of 310 million, nearly one in four receive welfare benefits.

    That’s over 70 million people who, if the government safety nets broke down due to lack of funding or a monetary crisis, would be starving on our streets right now.

    The sheer magnitude of the numbers is shocking. What’s worse is that they are indicative of a continuing down-trend that won’t be improving any time soon.

    Read More At: http://www.shtfplan.com/headline-news/shock-report-the-collapse-is-now-70-million-people-would-be-starving-in-the-streets-without-government-welfare-programs_07092014

    Is the U.S. stock market rigged?

    Steve Kroft reports on a new book from Michael Lewis that reveals how some high-speed traders work the stock market to their advantage.

    The following script is from "Rigged" which aired on March 30, 2014. Steve Kroft is the correspondent. Draggan Mihailovich, producer.

    This month marks the fifth anniversary of the current bull market on Wall Street, making it one of the longest and strongest in history. Yet U.S. stock ownership is at a record low and less than half of Americans trust banks and financial services. And in the last two weeks, the New York attorney general and the Commodities Futures Trading Commission in Washington have both launched investigations into high-frequency computerized stock trading that now controls more than half the market.

    The probes were announced just ahead of a much anticipated book on the subject by best-selling author Michael Lewis called "Flash Boys." In it, Lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading. The story is told through an unlikely cast of characters who figured out what was going on and have devised a plan to correct it. It could have a huge impact on Wall Street. Tonight, Michael Lewis talks about it for the first time.

    Steve Kroft: What's the headline here?

    Michael Lewis: Stock market's rigged. The United States stock market, the most iconic market in global capitalism is rigged.

    Read More At: http://www.cbsnews.com/news/is-the-us-stock-market-rigged/
     
    #5 poncho, Jul 10, 2014
    Last edited by a moderator: Jul 10, 2014
  6. Crabtownboy

    Crabtownboy Well-Known Member
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    The market goes up the market goes down. One day does no make a trend.

    Here is the trend:

    [​IMG]


    See how it has bounced off the bull support line numerous times?

    As always be very careful and selective in your stock picks. On the best of days there are companies that decline and on the worst of days there are companies that go up.
     
    #6 Crabtownboy, Jul 10, 2014
    Last edited by a moderator: Jul 10, 2014
  7. poncho

    poncho Well-Known Member

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    [​IMG]

    Notice how much the currency has been devalued? Cui bono?
     
  8. Salty

    Salty 20,000 Posts Club
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    But the Poncher said........
     
  9. InTheLight

    InTheLight Well-Known Member
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    In Poncho's world that is called "rigging the market." LOL!
     
  10. thisnumbersdisconnected

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    I've explained it and explained it and explained it, and perhaps you'd better read the post again. :rolleyes:
     
  11. InTheLight

    InTheLight Well-Known Member
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    Just provide a link to your post explaining this and we can all read it.
     
  12. Crabtownboy

    Crabtownboy Well-Known Member
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    Actually you have given your opinion repeatedly, but as far as I remember you have never given a link backing up your assertion. I really believe you have no idea about how any of the markets work. The NYSE and the NASDAQ are quit different in how they operate. The DOW is a good indicator, but it is not the entire picture. There a number of DOW's. Most people are familiar or have at least head of the DOW Industrial Index, but taht is only one of the DOW indicators. :rolleyes:

     
    #12 Crabtownboy, Jul 11, 2014
    Last edited by a moderator: Jul 11, 2014
  13. Crabtownboy

    Crabtownboy Well-Known Member
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    Gee whiz, there you go asking for proof. Opinion is his proof, don't you realize he is infallible in his opinions?

    I really wonder if some on the BB ever read?
     
  14. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>
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    There's some here that sure enough can't spell.
     
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