Dow rises 100 points, opens at record high on strong earnings

"Stocks opened higher on Wednesday on the back of stronger-than-expected quarterly earnings results.

The Dow Jones industrial average rose 100 points at the open, hitting a record high. The S&P 500 also reached an all-time high, climbing 0.2 percent. The Nasdaq composite also gained 0.2 percent and hit a record.



Equities have kicked off 2018 with strong gains. The major indexes are up at least 6 percent year to date as strong earnings and a lower corporate tax rate help maintain optimism in the economy.

J.P. Morgan Chase CEO Jamie Dimon told CNBC on Wednesday the lower corporate tax rate will lead to higher wages and spark an economic boom."

https://www.cnbc.com/2018/01/24/us-stocks-dow-record-earnings.html

This is close to the 80th time that the DJI has broken its own record since Trump was elected. When we hit 25,000 a couple weeks ago, Trump said the next goal is 30,000 and it's well on its way there. A strong economy brings a strong stock market... This fantastic news continues, even amid all the fabrications against Trump. Keep making America greater.

 

Time to buy!

 

Confidence has never been this high. I've found myself saying that quite a bit since Trump's election victory.

 

I bought more as the Dow started up but then I thought this has to top out soon so I'll hold tight. Wish I bought more now and I'm thinking the top may be far off so I may invest some more very soon.

 

I can't afford any shares, but I can definitely enjoy the booming economy... And a 2019 Ram 1500 Laramie when they release later this year

 

To paraphrase a quote from the great depression:

"You know it's time to sell when shoeshine boys (i.e. random internet posters) give you stock tips. This bull market is over."

 

And now it's dropped 76 from last close......

Edit : And now it's down 100......

 

And you really know it's time to bail when people who can't even afford to buy stocks try to time the market ... crazy town.
By the way OP - DOW's now down 90 ...

 

LOL! I was going to post the same thing. One of the above posters thought it was a good idea to buy after the market opened 100 point up, so he should probably think it would be a good idea to now sell, since the market is 10s of points down. The follies of market timing....

What do you think we are not going to hear from him again in this thread?

 

It may have just begun. Time will tell. I keep thinking by it's over and it just keeps going up. Wish I had invested more than I did but that's 20-20 hindsight.

 

Something tells me you are more of a gambler than an informed investor in the market. If so, you'll do well to stay away.

 

Why? At the time you posted that it was time to buy, the Dow Jones was higher than now which means you have lost out. So, you're better off buying now - are you going to?

 

You go boy. I bought a Ram 1500 Tradesman for Christmas and I love it.

PS. Dow's back up. It's raining "progressive" tears again...

 

I've been saying that since March 2009. Yes, we have a recent spike but if we look at the big picture those of us with interest in the stock market have been smiling for a long time.

 

I think the markets going to continue to go up this year so yeah I'm a buy

 

You'd be wrong on that. I'm an informed investor but at my age it's not too wise to overinvest in stocks so I've been conservative in how much of my retirement portfolio is tied to the Dow. I'm wishing I'd been less conservative now but I had no Crystal ball and didn't see this huge growth coming. Oh well.

 

Ouch. I'd say you're about nine years late on riding the wave. March '09 started a nice trend that's performed well. Certainly this past year has been a good spike.

 

I should have been more specific. Time to buy more.

 

You are still timing the market, since you have cash sitting on the sidelines, most likely because you didn't trust the economy under Obama.

The experienced investor would rebalance according to their preset asset allocation, meaning to convert stocks to bonds as the market goes higher.

In contrast, you buy stocks and sell bonds through rebalancing when the market declines.

 

I'm heavy in cash because I'm pushing 70 years old and I can't risk too high a percentage of my money but I think this markets not done going up so I may take some money out of a safer bucket and put it in the Dow. The trick at any age but my age especially is diversification of funds. I have stocks, bonds, cash, annuities, a rental and even some gold buried in the yard, LOL.

 

Ooh, is this the start? To buy or to sell, buy or sell, buy or sell..................questions, questions....

Dow Jones INDEX
26,107.90
-331.58
(-1.25%)

 

Well well, you bet that if the DJI was up +331.58, there would be already 5 threads on the forum praising trump for making us all prosperous. When the Dow goes down -- crickets chirping.

Of course, we all know that these are just regular market fluctuations and experienced investors won't buy or sell on daily ups and downs.

For Trump fans, on the other hand, I am not so sure whether they can see their market timing folly, getting now back into the market after almost a decade of sitting out because they though Obama was bad for bsness.

 

Most Trump supporters think the stock market is where their beef comes from...

 

Struggling with your comment as the vast majority of leftie/socialists refer to all republicans as "the rich that should pay their fair share" and they are the only ones that own stocks.

 

Who sat out the Obama market? It went up because everyone including myself had no place else to invest with interest rates being kept so low due to the bad economy. That went well for a while but in the last two years of Obama the Dow pretty much flatlined as everyone knew stocks were over valued. Then Trump was elected and it was off to the races.