Nasdaq edged down. 26 , the star of the show was the Dow Jones Industrial average, which briefly crossed above 40,000. Hallelujah before pulling back a bit and closing down 39 points. Still, thats a huge leap from where we arrived at dow 30,000 back in november of 2020. So you know what . I think its worth exploring what stocks got us here and why. During this period weve constantly been told that tech is the market leader. But when i look at the top ten stocks up the most during dows trip from 30,000 to 40,000 very surprising group. Only two of them from tech. We also were told Interest Rates is all that matters but thats played a smaller role than expected too. Only the tenth stock really impacted. Instead its an odd grouping where the main thing these companies have in common is very strong exceptional management. Lets run them down so we can learn what the market really wants here. I need you to think about this even though we didnt close above 40,000, this is what matters. First i
The retailer sees some booming ecom sales. And of course buffetts big surprise, revealing a secret Minority Stake in one of the markets biggest insurers. S p closes above 5,300 first time and the dow does inch closer to 40,000, jim. You said this morning, overbought, but things can remain overbought for a while. When it gets this overbought, when theres so many different buyers, and we have had this a couple times, bill paul does the great work for the oscillator, you can actually have a sustained churn, flop and chop. It doesnt plummet if youre up at these levels. It kind of just marks time. Now, we did have one of these last year where we came in, the first couple days, nvidia got slammed, the big momentum guys got slammed. Then, they came right back. I know it sounds odd, but you can get to an exalted level like we are now and have some rotation internally, but its not like when were like plus 5, 6, really fast and then boom. I know i dont want to be complacent, but when you see a w
Art carden, who is a professor at samford, sam. 0rd university in birmingham, alabama. Professor carden, what do you teach down there . I teach economics at stanford university. So introductory macroeconomics, intermediate macroeconomics, history and philosophy of politics and econ do you have a philosophy . Economics. You have a philosophy about economics . So im a believer that theres only one kind of economics. Theres good economics. My hope is that i practice good economics. It is what the social universe made out of. So if the physical is made out of mass, then the social is made out of economics. Its people responding to incentives in response to their constraints all the way down. It is essential, i think, to understanding the world works is something that you write. Your newest book, strangers with candy observations from the ordinary business of life nostalgia. The good old days puzzles me because they were horrible. Yeah, the good old days were terrible life for our ancestors
Art carden, who is a professor at samford, sam. 0rd university in birmingham, alabama. Professor carden, what do you teach down there . I teach economics at stanford university. So introductory macroeconomics, intermediate macroeconomics, history and philosophy of politics and econ do you have a philosophy . Economics. You have a philosophy about economics . So im a believer that theres only one kind of economics. Theres good economics. My hope is that i practice good economics. It is what the social universe made out of. So if the physical is made out of mass, then the social is made out of economics. Its people responding to incentives in response to their constraints all the way down. It is essential, i think, to understanding the world works is something that you write. Your newest book, strangers with candy observations from the ordinary business of life nostalgia. The good old days puzzles me because they were horrible. Yeah, the good old days were terrible life for our ancestors
Ambulance sirens and screams of fear common events shattering the peace on a regular basis in new york. Washington, d. C. Strive to enforce the law while confronting safety challenges. A big deal. Dont know how to figure it out. They have to get on it. Dana is back on monday. Sandra k. Smith has the honors today. Sandra no better way to kick off my friday than with you, william. Good to be here, thanks for having me. Im sandra smith. The epidemic of Violent Crime raising serious questions about political priorities as d. C. Crime rates skyrocket. Everything from murder, carjackings to assaults, prob re and rampant shoplifting. Despite the City Council Chairman proclaiming earlier this year there is no crime crisis in the Nations Capital. At this cvs store in northwest d. C. Shelves are just empty. Not because of Supply Chain Problems or booming business, but because thieves are walking in and walking out with absolutely everything. Bill the mayor says the city is doing Everything Possi