Quote:The Dow leapt to its highest levels on record Friday after the University of Michigan’s latest survey showed an uptick in consumer confidence.

The Dow was up 361 points, or 0.9%, to 42,529.12. The S&P 500 was up just 0.3%, but both were on track for record closes.

Stock Market Today: Dow Edges Higher After Inflation Data

Quote:The University of Michigan consumer sentiment for the US was revised higher to 70.1 in September 2024, the highest in five month, from a preliminary reading of 69 and beating market expectations of 69.3. The current economic conditions gauge was revised higher to 63.3 from 62.9 and the expectations index was revised up to 74.4 from 73. Inflation expectations for the year-ahead fell to 2.7% from 2.8% while the five-year inflation outlook rose to 3.1% from 3%, both in line with earlier estimates.

United States Consumer Sentiment

Latest:
42,588.52
+413.41 (0.98%) today
Sep 27, 11:10 AM EDT

Good news assuming the numbers weren't massaged. Fed will assume we're close enough on inflation and will likely cut rates again in the near future.

If the September inflation number isn't below 2.5% YOY the FED is gonna be second guessing. The reason being is the Sept '23 number was 3.7% just like Aug '23. If that September number comes in higher than 2.5% there might be some problems.

(09-27-2024 10:22 AM)Eagleaidaholic Wrote:  If the September inflation number isn't below 2.5% YOY the FED is gonna be second guessing. The reason being is the Sept '23 number was 3.7% just like Aug '23. If that September number comes in higher than 2.5% there might be some problems.

Maybe.

I was sort of joking in the other thread about adjusting the target inflation for inflation, but is that maybe something that needs to happen? Is 2% inflation really a valid target any more? Should it be closer to 3% instead? Not my milieu, so kind of curious if anyone had insight on this.

Milk and eggs

(09-27-2024 10:26 AM)Redwingtom Wrote:  

(09-27-2024 10:22 AM)Eagleaidaholic Wrote:  If the September inflation number isn't below 2.5% YOY the FED is gonna be second guessing. The reason being is the Sept '23 number was 3.7% just like Aug '23. If that September number comes in higher than 2.5% there might be some problems.

Maybe.

I was sort of joking in the other thread about adjusting the target inflation for inflation, but is that maybe something that needs to happen? Is 2% inflation really a valid target any more? Should it be closer to 3% instead? Not my milieu, so kind of curious if anyone had insight on this.

as long as you are ok with completely wrecking retirees.......

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The whole point of working in America is to better yourself. If your wages NEVER overachiever the cost of living, what's the point? 2% should be the ceiling.

(09-27-2024 12:16 PM)stinkfist Wrote:  ,nhgdfiytkfliu;gh;8ighy'08iohy'0oih'ihj
p'iohju
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OK, I'm going to need a little help with this one.

(09-27-2024 12:21 PM)Redbanksdog Wrote:  

(09-27-2024 12:16 PM)stinkfist Wrote:  ,nhgdfiytkfliu;gh;8ighy'08iohy'0oih'ihj
p'iohju
pihj'oih'ouhg'
pkju
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OK, I'm going to need a little help with this one.

That's the point.

(09-27-2024 10:11 AM)Redwingtom Wrote:  

Quote:The Dow leapt to its highest levels on record Friday after the University of Michigan’s latest survey showed an uptick in consumer confidence.

The Dow was up 361 points, or 0.9%, to 42,529.12. The S&P 500 was up just 0.3%, but both were on track for record closes.

Stock Market Today: Dow Edges Higher After Inflation Data

Quote:The University of Michigan consumer sentiment for the US was revised higher to 70.1 in September 2024, the highest in five month, from a preliminary reading of 69 and beating market expectations of 69.3. The current economic conditions gauge was revised higher to 63.3 from 62.9 and the expectations index was revised up to 74.4 from 73. Inflation expectations for the year-ahead fell to 2.7% from 2.8% while the five-year inflation outlook rose to 3.1% from 3%, both in line with earlier estimates.

United States Consumer Sentiment

Latest:
42,588.52
+413.41 (0.98%) today
Sep 27, 11:10 AM EDT

Prices are all the average American cares about and they are 30-40% higher in the last 3 years.

This bull**** you posted means nothing to the average American.

He's too dumb to realize that.

Milk and eggs.

(09-27-2024 12:54 PM)Southaven Wrote:  

(09-27-2024 10:11 AM)Redwingtom Wrote:  

Quote:The Dow leapt to its highest levels on record Friday after the University of Michigan’s latest survey showed an uptick in consumer confidence.

The Dow was up 361 points, or 0.9%, to 42,529.12. The S&P 500 was up just 0.3%, but both were on track for record closes.

Stock Market Today: Dow Edges Higher After Inflation Data

Quote:The University of Michigan consumer sentiment for the US was revised higher to 70.1 in September 2024, the highest in five month, from a preliminary reading of 69 and beating market expectations of 69.3. The current economic conditions gauge was revised higher to 63.3 from 62.9 and the expectations index was revised up to 74.4 from 73. Inflation expectations for the year-ahead fell to 2.7% from 2.8% while the five-year inflation outlook rose to 3.1% from 3%, both in line with earlier estimates.

United States Consumer Sentiment

Latest:
42,588.52
+413.41 (0.98%) today
Sep 27, 11:10 AM EDT

Prices are all the average American cares about and they are 30-40% higher in the last 3 years.

This bull**** you posted means nothing to the average American.

Facts, to you, are apparently bull****. Got it.

And yes I get it. the average American only sees what they pay. It's why trump still polls ahead of Harris on the economy when he's a complete moron on the topic. Economists all pan his tariff nonsense, his tax cut ballooned the debt, etc. The only reason his economy was decent is because he inherited a decent economy. He inherited low gas prices and inflation, etc. He basically had no policies that did anything to improve the economy and manufacturing was going into the toilet even before the pandemic. Then the pandemic hit and it all went to hell. And the high gas prices were mostly attributed to him with his horrific deal with SA.

I'll ask again. please cite one metric that shows that the trump term was better than the Biden term on the economy. Jobs, Unemployment, GDP, all worse under trump. And before you cite inflation, that was again a global problem and the US faired better than ANY other major nation.

(09-27-2024 10:22 AM)Eagleaidaholic Wrote:  If the September inflation number isn't below 2.5% YOY the FED is gonna be second guessing. The reason being is the Sept '23 number was 3.7% just like Aug '23. If that September number comes in higher than 2.5% there might be some problems.

Its just not what we're seeing in restaurants and grocery stores.

(09-27-2024 12:54 PM)Southaven Wrote:  

(09-27-2024 10:11 AM)Redwingtom Wrote:  

Quote:The Dow leapt to its highest levels on record Friday after the University of Michigan’s latest survey showed an uptick in consumer confidence.

The Dow was up 361 points, or 0.9%, to 42,529.12. The S&P 500 was up just 0.3%, but both were on track for record closes.

Stock Market Today: Dow Edges Higher After Inflation Data

Quote:The University of Michigan consumer sentiment for the US was revised higher to 70.1 in September 2024, the highest in five month, from a preliminary reading of 69 and beating market expectations of 69.3. The current economic conditions gauge was revised higher to 63.3 from 62.9 and the expectations index was revised up to 74.4 from 73. Inflation expectations for the year-ahead fell to 2.7% from 2.8% while the five-year inflation outlook rose to 3.1% from 3%, both in line with earlier estimates.

United States Consumer Sentiment

Latest:
42,588.52
+413.41 (0.98%) today
Sep 27, 11:10 AM EDT

Prices are all the average American cares about and they are 30-40% higher in the last 3 years.

This bull**** you posted means nothing to the average American.

Unfortunately the high prices we see currently will not drop significantly when you look at the economy as a whole. However, certain parts my drop - volatile items in particular. Even there, you'll see a floor that won't be crossed that will be higher than price floors for various goods seen pre COVID.

The only way to see prices drop across the board will happen by either 1) A depression or 2) major gains in productivity.

(09-27-2024 11:10 AM)UofMstateU Wrote:  

(09-27-2024 10:26 AM)Redwingtom Wrote:  

(09-27-2024 10:22 AM)Eagleaidaholic Wrote:  If the September inflation number isn't below 2.5% YOY the FED is gonna be second guessing. The reason being is the Sept '23 number was 3.7% just like Aug '23. If that September number comes in higher than 2.5% there might be some problems.

Maybe.

I was sort of joking in the other thread about adjusting the target inflation for inflation, but is that maybe something that needs to happen? Is 2% inflation really a valid target any more? Should it be closer to 3% instead? Not my milieu, so kind of curious if anyone had insight on this.

as long as you are ok with completely wrecking retirees.......

Inflation distorts everything. You want manageable, predictable prices. Small inflation doesn't hurt, but big inflation makes housing unaffordable, hurts retirees, stifles long term investment and just generally wreaks havoc.

(09-27-2024 12:20 PM)Eagleaidaholic Wrote:  The whole point of working in America is to better yourself. If your wages NEVER overachiever the cost of living, what's the point? 2% should be the ceiling.

Wages are currently outpacing inflation. Have been since February of 2023.
https://www.statista.com/statistics/1351...ry%202023.