Dow closes at record high after blow-out jobs report The U.S. added 254,000 jobs in September, far more than forecast by economists. Oct. 4, 2024, 3:39 PM CDT By Alex Harring, CNBC and Lisa Kailai Han, CNBC Stocks advanced on Friday after an expectation-defying jobs report gave investors confidence around the health of the economy. The S&P 500 rose 0.9% to 5,751.07, while the Nasdaq Composite jumped 1.22% to 18,137.85. The Dow Jones Industrial Average added 341.16 points, or 0.81%, to notch an all-time closing high of 42,352.75. Stocks rallied after data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%. “After a summer of weak labor data readings, this is a reassuring reading that the U.S. economy remains resilient, supported by a healthy labor market,” said Michelle Cluver, head of ETF model portfolios at Global X. “We remain in an environment where good economic news is good news for the equity market as it increases the potential for a soft landing.” Tesla, Amazon and Netflix were among the megacap tech names climbing on Friday, which can help explain the Nasdaq’s outperformance. Financials were the top sector in the S&P 500 during the session, surging 1.6% and closing at a record. JPMorgan Chase and Wells Fargo jumped more than 3% each. On the other end of the spectrum, small cap stocks also rallied, with the Russell 2000 up 1.5%. Friday’s bounce erased losses seen in recent days. Mounting geopolitical tensions in the Middle East gave way to a shaky start in October for stocks, a turn after the market posted an unusually strong first nine months of the year. The S&P 500 finished up 0.22% on the week, while the Dow inched higher by 0.09%. The Nasdaq added 0.1% for the week. Crude oil prices rose again on Friday, bringing the week-to-date gain close to 9%. Oil has been pushed higher as a result of intensifying conflict in the Middle East after Iran launched a missile attack on Israel. Energy stocks have jumped this week as oil rallied, with the S&P 500 sector up 7%. That marked the group’s best week since October 2022. https://www.nbcnews.com/business/markets/httpswwwcnbccom20241003stock-market-today-live-updates
Hmmm. LinkedIn keeps telling me I am the perfect fit for a Netflix position with a very high salary… Think they still have all their DVDs?
I respect your opinion but I really hope you’re wrong. I do think there are a LOT of ‘hidden’ voters for both sides. My hope is the female rights hidden D vote wins out over the hidden R loyalist vote that is ashamed to admit they are voting Trump. I’m also hoping the poll numbers skewing towards older conservative voters is wider than previously thought. What person under 35 answers the phone or returns a political text? No one I know, including my 18yo.
Honestly, I don't see Trump winning at all. Young voters, Black voters, Asian voters, and women will give Harris the edge. Trump just has his old MAGA minority, and it wasn't enough in 2020 to beat Biden. Many Republicans support Harris now, and Trump has been behind her in the polls for months. People are sick and tired of Trump, and with all his cognitive slips these past few months it's obvious he isn't all there. They aren't gonna decide last minute to switch parties to vote for a psychopathic racist felon almost 80 years old.
I think that’s a rational assumption based on good observations and experience. But Trump won in 2016, which was a shock to me, and it’s certainly not a slam dunk in polling - which is why I posted my thoughts about it above. I just don’t feel comfortable with where it’s at. It’s like a close sports game and @Nook nailed it, some big swing in the final days could mean a lot. Side comment- electoral college is the biggest voting scam the US has in voting If we eliminated the electoral college, the entire landscape of politics in the US would shift left.
The scumbag Trump is suing to stop the V.A. from being able to have voters register at the V.A. https://www.cnn.com/2024/10/04/politics/trump-campaign-ground-game/index.html
A lot has changed since 2016. He's much older, and it shows when he speaks and starts confusing people, cities, past events and stuff. He's also a convicted felon now, more blatantly racist than ever before, and desperate for power and immunity from prosecution. He's also now surrounded by a bunch of right wing nut jobs, conspiracy theorists, white supremacists, and neo-nazis now, and that's not the types the majority of Americans identify with or want put into positions of authority by Trump. I think most Americans are sick of his doom and gloom rhetoric, his obnoxious ego, and his calling America's future without him leading it as a hellhole 3rd world country. I also think most Americans are sick and tired of his ignorant lying vulgar mouth, and think he's unfit to serve.
And yet he’s the R nominee for president and will get tens of millions of votes merely because he’s on the ticket. It’s important to be aware that there are many voters out there who don’t participate in polls on both sides. I’m not counting any chickens in this one. It’s not looking like a landslide for Harris. Voters need to stay on point and get out and vote. Read up at FiveThirtyEight - lots of articles on how polling works, which demographics are under polled, etc.
This is a very close election and agree that it could tip either ways the last few weeks I’ve been cautiously optimistic about a Harris win. Here are my reasons. 1. I take all of the polls with a more than just a grain of salt. What we’ve been seeing the last month though as been a Consistent trend in nearly all the polls that Harris is up even in the swing states. While her lead varies and most have her in margin of error the trend line shows her keeping a consistent lead. 2. Since 2016 the polls tend to show Democrats doing better in most elections than Republicans. This was especially true in 2022 where most polls had predicted a red wave but then the last week some started breaking towards democrats. The Democrats still did better than predicted. In 2020 Trump did do a bit better in some swing states like WI and PA but Biden did much better than polling showed in Az and GA. 3. Even though many issues and events should Favor Trump we don’t see that translating into increased support for trump. 4. While Trump has made inroads among Black and hispanic voters and will likely do much better than other republicans he faces a record gender gap and them support he’s picking up from black and Hispanic voters looks like his support from white males but he is doing very poorly among women in those groups. 5. Trump is running a novel campaign to get the Bro Vote by appealing to Logan Paul MMA crowd. This is generally not a very politically involved block. The only candidate I can think of that successfully got out enough of the vote to win was Jesse Ventura. Not sure how much this block is reliable but more worrying for Trump is that the more he appeals to that block the more he alienates women. 6. The Democrats have built up both a significant fundraising advantage and a get out the vote. I’m sure I like other are sick of all the text and emails from Democrats but this shows how active their outreach program is. At the same time even Republicans are admitting that democrats are outspending them in national And targeted ads. 7. Unlike the Hillary Clinton campaign which took it for granted they were going to win the Harris campaign is continuing to campaign in battleground states. Rather than try to run up the score nationally. Even with an advantage in funds and organization they seem to understand that a 50 state strategy isn’t going to win but focus on the 7 battleground. 8. While the economy has been strong in employment and stocks we are Seeing gas and food prices come down. Perception of the economy always lags behind reality but there are indicators that consumer confidence is coming around and the perception of the economy might not be as bad as Republicans make it out to be.
How will MAGA ever escape the cage of misery that Trump has built? They are conditioned to believe: - education is woke - everything is bad - minorities have stolen their future - they should be angry all the time - there is no such thing as the truth - science and medicine is fake The reality they face: - AI and automation will continue to eliminate millions of jobs - they lack education to build careers and reach the middle class - red states and rural areas are bottom of the nation in education, and their Republican leaders seek to further erode education
Also as we’ve seen with a lot of rural communities and small towns like Springfield, OH the population drain on them makes it difficult to sustain local economies particularly in industries like meat packing. This is why many rural areas in the Midwest have growing immigrant populations because they need the labor. Demonizing immigrants will hurt them in the long term and guarantee that the demographic imbalance between rural urban America just gets worse.
That's the hard truth. They care more about pleasing their billionaire oil supporters and the NRA who line their pockets and campaigns with millions. Greed is an ugly thing with politicians.
