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Dow Jones Closes At Record High As Economy Grinds To A Halt
The Russell 2000 tumbled to its worst month since May 2012. 30 Year bond yield had the 2nd best month in a year (with the entire bond complex lower and curve flatter for 5th month in a row). Gold rallied for the month as high-yield credit spreads widened for the 2nd month in a row. US economic growth collapsed. But what really matters... what is key for the headline-makers, story-tellers, and asset-gatherers... is that the Dow Jones Industrial touched new record highs. On the day, early equity weakness gave way to exuberant buying as the Fed admitted its forecast for Q1 was shit but everything it says about the future is spot on - stocks urged, the Dow hit new all-time-highs (and green for the year) but once that level was hit, stocks began to fade but were rescued by the always-happy-to-help 330 Ramp which closed us at record highs and green year-to-date. By the close, the day saw Stocks Up, Bonds Up, Gold Unch, USD Down
Quite a divergence today...
And on the day, Trannies spiked at the open as everything else dropped... the post Chicago PMI rip stalled as Europe closed, then the Fed provided absolutely fucking nothing to juystify stocks rallying...
As VIX was banged lower...
But Year-to-Date, Gold remains the winner...
Year-to-date, the Dow managed to close green YTD
April left the Russell the big loser - worst month since May 2012
Here's April for the S&P Sectors...
April was a very different month for credit markets with HY notably wider and not at all excitd about the most recent pop in stocks... this is absolutely not sustainable - you can't keep levering firms to do buybacks if the credit market for highly levered firms begins to get saturated and costs of capital surge... where have seen this before?
Treasuries were mixed with notable flattening across the complex in April...
The Treasury curve flattened for the 5th month in a row
Commodities were mixed on the month with gold closing in the green
Charts: Bloomberg
Bonus Chart: What was the market discounting a year ago?
Bonus Bonus Chart: Seems like Treasuries are on to something with the macro fundamentals... and stocks ramp on hope and dump on reality...
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DOW all time high for CNBC 25 years anniversary. UNRIGGED!
Remember this is an unrigged market.
Orwellian - Pavlov training. You will be made to believe this is not rigged.
Oh, as long as the DOW is good then that's all anyone cares. I love seeing those GREEN numbers filling up my TV screen when watching my favorite show Closing Bell! It's all just fucking wonderful!
Just think about how high the DOW will be when we start having negative GDP growth!
pods
You mean next month after this is revised down?
for the hopiums, might imply double down printing, almost makes sense to me.
Yep, the Fed will dutifully introduce NIRP to prevent stockholders seeing the canyon yawning below the feet of the real economy. For a little longer.
all hail central planning... well, at least on paper everything looks fantastic. so what if you must suspend common sense, outlaw basic human behavior, cause starvation war and suffering... on paper this is working. until people have to burn the paper to keep warm anyway.
You've gotta wonder. With this CNBC25 celebration and the whole staff waving goodbye on the closing bell, could that be an ironic omen for what's to come starting May 1st in the market? Is that the absolute top for the next few years? Could we all be waving goodbye to CNBC soon?
I was thinking the same thing. God does have a sense of humor. It smacks of that "permanently high plateau" talk we heard on another such occasion...
Me thinks God does have a great sence of Humor... and it is end of month "must be green" day
I'm bored and thats never a good sign
This market has reached it's peak.
The divergence from fundamentals is caused by one final Wall Street pump, designed to lure the last hapless buyers in, so the trading houses can offload their hideously overvalued stocks.
If you're stupid enough to buy in at these levels, you simply deserve to lose your money.
And if your fund manager was stupid enough to plow your retirement savings into the stockmarket at these levels - my condolences.....
"Could we all be waving goodbye to CNBC soon?"
From your lips to God's ears...
Spains GDP today 0.4% and they are totally fucked. The USA today was 0.1% and as we know completly false due to Obamacare and inflation lies. SO if Spain can do 0.4% then the USA must be really down the toilet. Perfect excuse for another braindead all time high in full retard stocks
There is no contradiction between a very cold yet short winter and a production boom in North America...especially when it comes to food and energy.
From my trip cross country simply put "the grass is green, the nutrients were locked in the ground and there is no problem with industrial scale irrigation.
Obviously energy production continues to soar and sheer scale of the ability to ship goods through and out of North America at de minimus cost is simply beyond imagination.
So far we enough inflation to keep equities bid...but once equities correct then I think we'll see the simple contradiction of a "growth recession" laid bare.
I would not be surprised if this Adminstration pushes very aggressively "outwardly" on the "three fronts" of "Ukraine", "North Africa" and East Asia.
Interestingly the only one of the three that would be outwardly aggressive would be North Africa.
Israel of course makes that aggression inevitable.
Dow Utilities hit a record high of 553.58 today, beating the old high of 550.06 set on 9 Jan 2008.
Perhaps bullish for bonds ... and indirectly for commodities, if real interest rates drift down.
CBNC (Creeps, Brokers, Nitwits and Clowns) is why I ditched my television. You watch, you lose!
(dup)
It's All Bullshit!!!
Jeffrey immelt was on this morning...how funny...Jobs Czar lmao...GE, cnbc, nbc, msnbc...dayaaaaam, The boy has some clout
We are going to really feel this when the whole system collapse.
YOU CANNOT MAKE THIS SHIT UP!!
@goldhedge
No you can't. Dollar down 30 basis points....gold/silver DOWN.
TY...you moronic, gaming turds. I buy ALL THE WAY DOWN.
i logged in just to upvote the 'buy all the way down'
GDP ALREADY PRICED IN!
BETTER THAN EXPECTED™ & THIS TIME IS DIFFERENT™
the thirdcoast - yes. well lack of actually.
Fun day! Excuse me...I need to go stick my face in a fan.
Josef Stalin would be jealous.
So would Joseph Goebbels
And so would Josef Fritzl
lol
obviously the DAX futures just leapt up to the HOD in sympathy, although the underlying market is obviously closed
Market ain't discounting shit, except more handouts from Ben and Janet. And taper or no taper, through Belgium, VIX slamming, or whatever, you can be sure the handouts are continuing.
Was that the lowest volume on an FOMC day ever? The 2014 normal seems to be either collapse or a comatose drift upwards.
especially as bank of america found only 4 billion of merrill lynch loses in the closest.
no taper wanted there. 4 billion was at one time, a lot of money. but - memories are short and it's different this time.
We should have winter every year! Who knew it'd be so great for 'markets'
Right, some kind of Game-of-Thrones-like endless winter would be endlessly bullish for the economy.
Crazy that we could print .1 percent annualized GDP number and close at record highs.
It was almost as if all the traders were tuned to CNBC, jerking off and pressing the buy button as they watched the orgasmic 25-yr-anniversary closing bell.
Silver getting absolutely clobbered
Gold the biggest winner (they gots some gold)
Silver always the biggest loser.
The maniacal hammering of silver leads me to believe it truly will be their Achille's heel someday, and maybe soon.
Man they hate the shiny.
Silver, Bitchezz.
Silver has amazing anti-bacterial properties that are not yet fuly understood. It can be incorporated into bandages, catheters, and surgical equipment. Imho al medical equipment should contain silver, and one day it very well could.
I know.
You can even eat it.
Good for ya.
Yea eat silver if you want to look like a fucking smurf
http://www.nydailynews.com/news/national/man-turned-blue-silver-dies-art...
Smurftastic!!
Well you can eat it but pigging out is never a good idea.
You can eat some, though.
I take it often. No blueman here.
Seems moderation was missing in that guys vocabulary.
Don't generate your own, and if you do, drop a bit of salt in it. If you see precipitation, you made silver ions, which will drop out when it hits a Cl- in your body.
This guy was drinking copious amounts of silver ions that he generated. No control on ion content or concentration.
Silver particles pass through your body rather quickly.
pods
How many people involved? Why he did this?
How about eating some KG of FRN's?
The widder should be able to reclaim a couple o'pounds of Ag there.
"We formed him into an ingot, ma'am."
CNBC celebrating like it's 1999. They'll be eating dumpster shitburgers when the dust settles.
i'd gladly pay you tomorrow for a dumpster shitburger today.
... with Dec 2015 call options.
You can't lose!
"Stay on your own side, there, buddy!"
"OK."
"Say- you used to work for CNBC!"
"Yep."
"Well, just stay on your side of the dumpster."
more Lies- Man!
memories are too short for that. the average american doesn't have much of an attention span, thanks to cnbc. they've been taught (brain washed) into it. whatever happens next, just respond to it. there is no such thing as thinking ahead or planning for the future. how many of these idiots can't walk down the street of nyc without having to instantly reply to any email or blog or post or phone call, until taking 10 seconds and crossing the street safely.
no my friend - that's our hope. but there is no more humble pie. when there is no shame, there is no pride.
I wish people would stop perpetuating the idea that news, earnings, currency pairs or 100 other things affect this market at all. It's simple - large financial institutions have been given billions of dollars to play with risk free. They could lose all $55 billion this month and still get $45 billion next month. That money can then be levered to infinity. They are a criminal cartel that colludes to set stock prices each day at levels to maximize the extraction of wealth from Mom and Pop. Until they are no longer given risk free money this market will not go down other than to lure in shorts to add fuel to the fire
bbut they keep telling us it's not rigged.
Well I believed Moe Shapiro yesterday.
pods
spot on except the last sentence mentions something called a "short".
sooner find bigfoot, locknessie, or yellen's hot twin sister than a stock market short.
buying puts isn't a short.
Utopia is here!
It's all part of the game, kids!!
The higher it goes, the harder the fall. The system must be appropriately prepped for the cataclysm that will follow.
If everything is so great, then silver should be rising because of industrial demand, the FED shouold have backed off completely on QE and increased the interest rate, the real unemployment rate should have decreased to at least 5.5%, if not lower, gold should have fallen to 600 dollars, the dollar index should have increased to .85 or more, housing starts should have increased, GDP should have been at 3-4%, SNAP cards should have been cut, because everything is good again....we all know it's fucked beyond repair....only a matter of time before the stock market can't take it anymore.....
How dare you crash the party with logic and facts.
I hear the Maldives are increasing their UST purchases by $10bn a month starting this May.
That up from the current $2.50 per month.
I've got a limited supply of one-size-fits-all Dow 10k hats left for sale .
On the day the BLS reports 1 in 5 American households have no jobs and the GDP took a big steamy shit the Dow hits all time highs. There is nothing more to be said really. The market has finally completely passed through the matrix to some other unintelligible world. Listening to the pundits today there is absolutely no fucking events that could be portrayed as negative or a headwind to the market. Not zero growth. Not zero jobs. Not a WWFUCKINGIII. NOFUCKINGTHING. And with that it's time to layer on those shorts.
Who needs jobs. Just go on disability and the Federal Reserve can just print money and buy up all the debt.
Want that Obama phone from China? Yellen and the Federal Reserve can just print up some dollars and pay for it. Who in the US needs to work anymore or produce anything.
Its time to layer on guns, ammo, and grub in my opinion. This fraud is brilliant until it's not.
I love Ponzi. He was my favorite Happy Days character.
He saw more ass than a toilet seat.
pods
I think John mouth Kerry and President Remus should open the markets tomorrow morning???
Maybe we can call the christening moment a perfect prelude to the United States starting another war they will most definitely lose!
they've killed a lot of people since vietnam - but i'm not sure they've'won' any of these wars. i may be wrong and hope i am.
I have to admit, pretty speechless right now. Beginning of the end it seems. We will never verbally enter a recession again until this period of political upheaval is over. Who knows when that will be. Price fixing is already here, shortages soon to follow. Empty houses all over the place, many homeowners living mortgage free, and zombie drug addicts walking around down town every day. Thanks USSA, my families life is ridiculously difficult and things are only getting worse.
Here is to only having one day off with my wife and kids because I can't afford to send them to daycare 5 days a week. Let's hear it for not being able to pay the full sum of my student loan, or my wife's for that matter. A debt we will likely owe untill we are dead. Nope no downturn here. Im about ready to just say fuck it and buy a 400k house and get a brand new car. Seems to be the thing to do in this country when you have more debt than savings.
They want you to crack up so they can put you in the privatized prison system. Write your congressman with your concerns. It is hard to have eyes and a shred of sense in the former USA. One piece at a time we can get America back. There is a new economy growing inside the festering carcass you're smelling now. Figure out what you do well. Try to work that, part time at first. Don't take the indebtedness pill, brother. Plant a garden if you can. Make saving money an avocation, look at Craigslist for any crap you need. Rotten garbage, shit, and dead stuff makes compost from which beautiful new plants grow, flower, and reproduce. I'll pray for you and your kids.
I remember the last 2 bubbles the Fed blew getting to this irritatingly obnoxious disconnect with reality prior to blowing up. Does anyone have a really large and sharp pin out there?
Sooooo while all seems well, think i will head to the bundy ranch and see whats goin on. Been kinda quiet lately with all this racist news
"G Beck Trashes Bundy Patriots"
A Jones: "Beck a Zionist Shill!"
What is so hard to understand? We have reached escape velocity through the sheer brilliance of the FED giving their shareholders trillions of dollars of your money. Now that america stronk again and we have reached a new paradigm they will continue to taper while waiting in the wings to buy any potential dips while still giving free money to their friends for the foreseeable future.
What this means is you need to buy everything before they do, not gold though; that piece of shit is worthless and going to zero.
All assets are about to be printed at zero.
The clowns running the show have set fire to the bigtent. Luckily for us we left before it got started.
Jobs?....Where we're going we don't need jobs.
That would be a very asethetic beginning of the crash: the big closing bell party on CNBC. I would love to see them all with a hangover tomorrow morning while the market plummets.
pure fantasy, the market will never again crash. Its not possible with all the circuit breakers and heavy government control. The worst that can happen is the market goes down a few percent and trading is halted for a bit till the FED comes out and says we got this followed by furious dip buying back to all time highs.
I know it's piss.
Don't even bother trying to convince me it's rain.
"USSA Economy Collapses!"
"Stocks hit All-Time High!"
What fucking dimension am i living in.... that is all.
The market is in a giant rollover topping process. Nasdaq peaked in March, S&P in April and now the Dow in May. If we don't see sell in May and indexes all make new highs instead, I guess it's party still on for a while. If the rollover continues it could be a very powerful May selling season. I think we'll know in short order if the rollover top had been put in.
imagine the all time highs when the economy rockets
Once More:
The "market" and all major indexes are being run on a computer in redundant sites in Utah and Colorado. HFT is chaff so you can't see the machine's movements.
You see, due to the actions of an imprudent president, surrounded by enemies of the state, we are in a COG defcon mode, fully expecting or planning a horrendous false flag. The economy must be made to APPEAR vital and alive.
listen i am am trades man i am not schooled in how to talk but have grown on the streets with highlights traveling up and down hwy 1 selling pot. my parents were poor. i learned all i know by reading after i knew i could at age 20
i dont need to go into what i have seen the past 40 yrs. But i need to tell all and i need to tell all over and over, Narco music, these shit head bankers, all who work for them, "them" who do work for them and thier families, the privileged, all of them need to be targets. they need to be made a hostage, and then let loose. the head of house hold needs to be vaporizedNot to worry. 'They' are on the list.....
Are you a Hollywood script writer?
High Dow doesn't matter when it is inflated. Looks like it will just be leading the way on higher inflation.
Were living in a new age where Cow shit smells good. 0.1% GDP and the market goes higher. WTF. And then we hear how this Fridays jobs report is looking bullish with 200 plus thousand jobs expected. WTF again, have we forgotten when 300 Thousand jobs a month was considered the norm? Unfuckinbelievable.
Hell yeah!
My house is 400% overpriced and my stocks at 88,000 PE.
It's friggin Miracle!
Today was more proof the economic recovery that the media and talking heads have been bantering around does not exist and is just a myth. A manipulated stock market distorted by recent economic policy hides and mask the real truth, in many ways it has become ground zero in the war to convince us all is well.
The American people and Main Street will tell you they are far from convinced that it is smooth sailing ahead. Huge weakness in the economy has been shown by numbers that barely get by even after record amounts of stimulus. Fact is if QE or the massive government deficit spending that props up our economy is removed it will fold like a cheap umbrella. More on this subject in the article below.
http://brucewilds.blogspot.com/2013/10/myth-of-economic-recovery.html
They have done everything they could to force money into the market... to spur growth, (so they say). Now, there's a bubble in the stock market, and an artificially low return on bonds. They've cornered themselves. Withdrawing support from the stock markets will pop the bubbles, crushing those in the stock markets and those holding bonds (as rates rise). Congratulations, everyone will now be a loser. Great job Ben-Yellen.