Hitting 40,000 at Birthday

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According to On this Day in 1792 24 merchants formed the New York Stock Exchange at 70 Wall Street.

Just the day before 232 years later:

The Dow Jones hits 40,000 points for the first time ever : NPR

The Dow Jones Industrial Average surpassed 40,000 points on Thursday for the first time ever, signaling a strong endorsement of the health of the U.S. economy.

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32 thoughts on “Hitting 40,000 at Birthday”

  6. Don’t dance too hard over the Dow hitting 40000. Dow Jones futures point to a decline, but how long it will last? Pay your money and take your chances. 

  9. patd, yes, that’s kinda like it.  In the past 7 1/2 years the market has gone from 20,000 to 40,000 with roughly half of the increase under the Dumbass and Biden administrations.  It was at 20K when Dumbass took office and at 30K when Biden was sworn in.  Oddly enough, after hitting a peak it took dives during each back to the level or below of the Dow at beginning of the administration then recoveries to the high point. As you might expect, the swings under Dumbass were wilder and more abrupt than during Biden’s term.  The Dow dropped from 29.3K to 19.1K  in 5 weeks (erasing the gains of the previous 3 years) then recovered over the next 10 months in Dumbass’ last year in office. It rose from 29.9K to 36.3K in Biden’s first 11 months then dropped to 28.7K over the next 9 months, and has risen from there to 40K over the past 20 months, with one relatively small hiccup along the way.  Its the kind of thing that keeps CFPs on the edge of their seats and away from windows.

  11. Biden’s Gaza aid pier is really cool, sad that human behavior necessitates such innovation, but kudos to Biden and all the servicepeople for getting it done so quickly!

  12. Btw, i spoke to some conservatives yesterday and none of them have heard any of the senile shit trump says at his rallies- not the Gettysburg stuff, not the absolutely insane “Hannibal Lecter” babblings, none of it
     
    MSM in the tank for the fascists for the funsies (and ratings)

    So, now i have to find the clips to send to them 😑

    ok that’s all for now, have the best day ever 🇺🇸

  13. Nice to see John Eastman arraignment in AZ today, trial set for October.

    Starting a list of indicted Trump lawyers, probably missing a few:

    Cohen

    Manafort

    Flynn

    Stone

    Guiliani

    Gates

    Navarro

    Bannon

    Powell

    Papadopoulos 

    Weisselberg

    Chesebro

    Clark

    Eastman 

    Meadows

  15. Scary thought.  I remember the day it first hit 1000 in 1972.  Here’s to all the wealthy folk who picked a tech stock and left it alone for the past 52 years.  

    On November 14, 1972, the Dow Jones Industrial Average (DJIA) crossed the 1,000-point mark, 21,652 days after its inception on October 7, 1896. The index had topped 100 in 1906, 300 in 1928, 500 in 1956, 700 in 1961 and 900 in 1965.

  17. https://time.com/6977026/democrats-biden-executive-authority-grocery-prices/
    “A group of Democratic lawmakers are calling on President Joe Biden to investigate grocery store chains for price manipulation, writing in a letter sent Monday morning that he should use executive authority to take additional enforcement action to address rising food prices without the help of Congress.”
     
    “The letter, shared exclusively with TIME, comes after a report from the Federal Trade Commission (FTC) found that major grocery chains seemed to take advantage of supply chain disruptions during the pandemic to hike up prices to increase their profits.”
     
    Finally.  Only a few years too late.   Now, do rent! 

  18. https://casten.house.gov/media/in-the-news/theres-a-reason-why-stock-buybacks-used-to-be-illegal#:~:text=For%20most%20of%20the%2020th,the%20C%2DSuite%20tool%20shed.
     
    “For most of the 20th century, stock buybacks were deemed illegal because they were thought to be a form of stock market manipulation. But since 1982, when they were essentially legalized by the SEC, buybacks have become perhaps the most popular financial engineering tool in the C-Suite tool shed.”

    “And it’s obvious why Wall Street loves them: Buying back company stock can inflate a company’s share price and boost its earnings per share?—?metrics that often guide lucrative executive bonuses. As Reuters wrote recently, “Stock buybacks enrich the bosses even when business sags.”
     

    It’s not those who now make above the ridiculous, federal minimum wage who are responsible for price increases and product downsizing.

  19. ” Here’s to all the wealthy folk who picked a tech stock and left it alone for the past 52 years.  “

    jamie, yeah, in early nineties, I provided a friend’s kid his first foray into the market (a framed with his name on it one stock of Apple).  he’s now a well-off psychiatrist who works mostly via telemedicine appointments.  I feel like I helped create a monster of some sort.

    p.s. wish I had bought one for myself.

  20. making the big news today in KY.  kinda like the favorite at the Derby stumbling just before the finish line.

    Scottie Scheffler: golf’s straight man grabs attention in most unexpected way | US PGA | The Guardian

    For 27 years, 10 months, and 26 days the most interesting thing about Scottie Scheffler was his golf. And given that’s what he’s paid for, you might think it ought to be enough. But the truth is that ever since Scheffler rose to the top of the world rankings in March 2022 the game has wanted more from him. Trouble is, besides his faith, his family, and his attachment to a beaten-up old 2012 GMC Yukon, he does not have much else to give. Whisper it, but the truth is that a lot of people in the game worry that Scheffler, who many reckon is the best player of his generation, is just a little bit too boring to carry the sport.
    And then he decided to take a detour into the westbound lane on his way through the gates to Valhalla on Friday morning. Last month Scheffler explained that he believed his victory at the Masters was meant to be because God had laid out “today’s plans many years ago, and I could do nothing to mess them up”. Well, either the Lord also takes his marching orders from Kentucky traffic cops, or this is more proof, if we needed it, that he moves in mysterious ways.
    […]
    The shame of it is that his golf is utterly irresistible. The man hasn’t shot a single round over par all year. He has only just won the Masters, and people are already talking about whether or not he has a real shot at winning the calendar grand slam.
    He’s been playing so well that people are even comparing him to Tiger Woods, although their game is about the only thing they have in common. Or it was, anyway. Because Woods, of course, has been involved in a couple of traffic incidents himself in his time, most memorably when his ex-wife chased him out of the house and smashed the back window of his SUV with a golf club before he totalled it by crashing into a tree.
    At the time of writing, while one of the charges was noted as a felony, the fallout from Scheffler’s set-to with the police according to the official report seems to be that he has done irreparable damage to the $80 trousers worn by the officer who was trying to stop him from making the turn. Which speaks to the difference between them.

     

    Scottie Scheffler receives support during PGA Championship 2nd round (courier-journal.com)

    Scottie Scheffler, the world’s No. 1 golfer, was arrested and charged by the Louisville Metro Police Department before the second round of the PGA Championship for a traffic incident Friday at Valhalla Golf Club.
    In a separate-but-related incident, a vendor at the PGA Championship died after being struck by a bus near the course. That earlier incident caused traffic to back up around the course.
    Scheffler was booked at 7:28 a.m. at Metro Corrections on charges of second-degree assault, third-degree criminal mischief, reckless driving and disregarding signals from an officer directing traffic.
    He was released from custody on his own recognizance and returned to Valhalla about an hour before his scheduled 10:08 a.m. tee time.
    Scheffler received support from fans as he made his way through the course, with some chanting “Free Scottie.”
    Others wore T-shirts that read “Free Scottie,” and some wore orange jumpsuits. Another fan wore a T-shirt with Scheffler’s mug shot.

    earlier from What charges is Scottie Scheffler facing? See possible fines, sentence (courier-journal.com)

    “This morning, I was proceeding as directed by police officers. It was a very chaotic situation, understandably so considering the tragic accident that had occurred earlier, and there was a big misunderstanding of what I thought I was being asked to do,” he said in a statement on X, formerly Twitter. “I never intended to disregard any of the instructions. I’m hopeful to put this to the side and focus on golf today.
    “Of course, all of us involved in the tournament express our deepest sympathies to the family of the man who passed away in the earlier accident this morning. It truly puts everything in perspective.”

  21. scottjshapiro
    Supreme Court rules 6-3 that it’s their spouse’s fault.

    Scott Shapiro
    Sam Alito clarifies that his wife wrote Dobbs

    @KeithOlbermann
    School was remote. No kids at bus stops. The whole thing is another Alito

  22. BeschlossDC
    Jefferson Davis wants you to know that he had nothing to do with trying to destroy the United States — he says it should all be blamed on his wife.

  23. scottjshapiro

    ·
    4h

     

    “I accepted undisclosed luxury gifts from GOP donors because a neighbor had a ‘F—K TRUMP’ sign on their lawn.”

  28. Well, that’s the first HS graduation he’s attended for any of his kids.  He didn’t really want to go.
    He wanted to be able to whine about having court today (for a hush money/campaign finance crime stemming from him sleeping with a porn star while his wife was home with his infant son who graduated from HS today), but he was forced to go since he made such a to-do about it.

  29. Artery of the Day
    John Nichols
    THE MILAGRO BEAN FIELD WAR

    Tony Hillerman
    DANCE HALL OF THE DEAD
    And many more.
    Anthony Grove Hillerman (May 27, 1925 – October 26, 2008[3]) was an American author of detective novels and nonfiction works, best known for his mystery novels featuring Navajo Nation Police officers Joe Leaphorn and Jim Chee. Several of his works have been adapted for film and television.

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