Tag: Dow Jones

Four of the Dow Jones’ greatest single-day swings occurred in a one-week stretch in February. Was it an aberration, or the new normal in the Trump economy? John Cochrane, the Hoover Institution’s Jack and Rose-Marie Anderson Senior Fellow and purveyor of The Grumpy Economist blog, assesses the health of the financial markets and other economic bellwethers worth watching.

Jim Geraghty of National Review and Greg Corombos of Radio America cheer Interior Sec. Ryan Zinke for taking steps towards allowing energy exploration and development on more than 90 percent of the Outer Continental Shelf.  They also fume at President Trump for taking a week when he could be highlighting his support of Iranian protesters, the Dow crossing 25,000 and expanding American energy production and instead ranting about nuclear button sizes and trying to order a book publisher not to release a book critical of his presidency.  And they laugh at the liberals in the media and beyond who believed an online parody – about Trump being obsessed with the “Gorilla Channel” up to 17 hours at a time – was actually in that new book.

Jim Geraghty of National Review and Greg Corombos of Radio America enjoy three good martinis today.  First, they get a kick out of President Trump blasting former aide Steve Bannon over Bannon’s comments in a forthcoming book, with Trump saying Bannon has lost his mind.  They also celebrate the Dow Jones Industrial Average crossing the 25,000 barrier for the first time, and point out that businesses have some certainty that they’re not about to get blindsided buy tax hikes or burdensome regulations for at least another three years.  And they enjoy the news that the Republican candidate won the tiebreaker in a Virginia legislative race, giving control of the chamber to the GOP for the next two years.

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Are we having fun yet? This morning I spent time trying to get a sense of who thinks the new year financial route will turn around or, as some bears are calling for: “S&P could plunge 75% to 550”. The phone calls with clients and industry friends felt like that moment Roy Scheider said “we’re gonna need a […]

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