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7/02/2016 7:53 am  #1


Dow, S&P 500 shake off Brexit, log best week of 2016

A local stock Harley-Davidson Inc up + 19.76%  A really quick rebound after all the doom and gloom talk from the clueless media.


 Dow, S&P 500 shake off Brexit, log best week of 2016

http://www.marketwatch.com/story/us-stocks-struggle-to-hold-on-after-3-day-rally-2016-07-01

U.S. stocks booked a fourth straight daily gain Friday, and the Dow and S&P 500 marked their best week this year as stocks clawed back some of the losses scored in the wake of the tumult that followed the U.K.’s decision last week to sever ties with the European Union.Better-than-expected manufacturing data combined with fading worries about the Brexit, or British exit from the EU, stoked appetite for equities.

Although marked by choppy trade, the Dow Jones Industrial Average DJIA, +0.11%  rose 19.38 points, or 0.1%, to finish at 17,949.37. Home Depot Inc. shares, up 1.5%, led blue-chip advancers. The Dow came within a whisker of its pre-Brexit close of 18,011 before retreating in the afternoon.Meanwhile, the S&P 500 index SPX, +0.19% recaptured the psychologically significant 2,100 level to close up 4.09 points, or 0.2%, at 2,102.95. A 0.9% rise in consumer-discretionary shares, led by a nearly 20% surge by Harley-Davidson Inc. HOG, +19.76% on buyout rumors, underpinned positive momentum for the broad-market benchmark.Both the S&P 500 and the Dow posted their best weekly gains, up 3.2%, since the week ended Nov. 20, according to FactSet data.Meanwhile, the Nasdaq Composite Index COMP, +0.41% rose 19.89 points, or 0.4%, to close at 4,862.57.

The Nasdaq gained 3.3% on the week for its best climb since the week ended May 27.Trading volume was lighter-than-usual ahead of the July Fourth holiday on Monday when U.S. markets will be closed. Light volume can lead to choppy trading.Over the past three trading sessions, the Dow has risen by nearly 800 points, while the S&P leapt about 5% over the last several sessions, as markets rebounded sharply from Brexit concerns.

That vote roiled markets last Friday and Monday.“Markets are coming to the determination that [Brexit] matters but it is not the catastrophic event people had feared,” said Jonathan Golub, chief U.S. equity strategist at RBC Capital Markets.On Friday, markets also were boosted by data that showed U.S. manufacturing activity grew in June at the fastest pace in 15 months. The Institute for Supply Management said its manufacturing index jumped to 53.2% in June from 51.3% in May, marking an uptrend after a bout of extended weakness.


 “We hold these truths to be self-evident,”  former vice president Biden said during a campaign event in Texas on Monday. "All men and women created by — you know, you know, the thing.”

 
 

7/02/2016 8:01 am  #2


Re: Dow, S&P 500 shake off Brexit, log best week of 2016

Much of the analysis I have seen so far expects the Brexit to have a very minimal effect on the global economy and markets.

The effect on England is still uncertain.  The FTSE 100 market in England has rebounded, because it is mostly international companies.  The FTSE 250 might be effected more since it hasn't fully recovered yet and is made up of mostly companies that operate in England.

 

7/06/2016 8:27 am  #3


Re: Dow, S&P 500 shake off Brexit, log best week of 2016

A local stock Harley-Davidson Inc up + 19.76%  A really quick rebound after all the doom and gloom talk from the clueless media.

Speaking of clueless

Harley is down over $11 from it's 52 week high and down from it's most recent high of $70 since the 4th quarter of 2014.

The DOW was down over 100 points yesterday and the futures are pointing lower again today. 

Forgetting the Brexit for a second, stocks have been on a fairly consistent run up since 2009. We seemingly have terror attacks every two days lately. We have a very uncertain view of what the U.S. presidency holds, and frankly, the entire U.S. federal government. 

And yes, just two weeks ago, the country that holds the financial center of Europe decided it might want to tear up all of it's trade and financial agreements with its primary trading partners.

Whatever comes out of the Brexit, from an economic standpoint, is far from certain. But know that it's going to be a marathon, and not a sprint.


I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
 

7/06/2016 8:51 am  #4


Re: Dow, S&P 500 shake off Brexit, log best week of 2016

Guess I'm clueless as well, but I don't get what a couple days trading of Harley stock proves about Brexit, and the media's coverage of it. 


We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists. 
 

7/06/2016 9:24 am  #5


Re: Dow, S&P 500 shake off Brexit, log best week of 2016

Goose wrote:

Guess I'm clueless as well, but I don't get what a couple days trading of Harley stock proves about Brexit, and the media's coverage of it. 

This was a common talking point among the right late last week. Upon the couple of days of sever downturn in the markets post Brexit, people snapped up stocks on the cheap and it caused the market to rebound better than it did right after the vote.

Now, people are taking their profits and the market is going back down.

<Read from the bottom up>

Hell, I'm an idiot and even I wanted to buy stocks in the days after Brexit

http://i.imgur.com/dUbiTHH.png


I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
 

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