A number of stock market watchers warned about a major drop in the stock market if Donald Trump wins the election, reminds Grumpy Editor.
So what happened?
The Dow Jones industrial average jumps 1424 points in the month since elections on Nov. 8.
The Dow starts today at 19756.85, with only about 243 points more to reach the 20000 level.
Investors placing their funds into companies that will benefit from stronger economic growth and fiscal stimulus fed the month-long rally.
Traders see this week’s meeting of the Federal Reserve, last of the year, to end with an interest rate increase, something that is expected to be received well by financial stocks.
Talk that Trump plans to lower income tax rates, giving consumers more disposable income, coupled with a hike in fiscal spending could continue to give the stock market a boost.
Lower corporate tax rates will lead to higher earnings, lifting stock prices.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
Although anything related to global warming gets heavy coverage these days, unusual cold late last week saw 80 percent of the nation experiencing below-freezing temperatures. Thermometers dropped 20 to 30 degrees below average in the region from Montana to deep in the heart of southern Texas. Also on the “warming” front, CBS News claims “a warming planet could make coffee harder to find.”
With 2017 just around the corner, which are the best cities to welcome the New Year? WalletHub analysts put Orlando in top spot, followed by San Francisco, Atlanta, Denver and Buffalo (Buffalo? Yep). Worst city: North Las Vegas --- and it’s only four miles from The Strip in Las Vegas (ranked No.10 among the top locations)…Tucker Carlson, now with an hour program on Fox News, left his editor-in-chief position at The Daily Caller but will maintain his ownership stake in the publication…Time magazine names president-elect Donald Trump its Person of the Year…Along with footage of orange flames of fires, TV news directors love to report earthquakes --- even though in last week’s 6.5-magnitude shaker, nothing happened. The rocker occurs 97 miles out in the ocean west of Ferndale in Northern California. No reports of damage or injuries. End of story (and forgotten the next day).
What’s going on? After reading that nearly 240,000 tons of blueberries a year are produced in the U.S., with 10 states (Michigan, Oregon, Washington, Georgia, New Jersey, California, North Carolina, Florida, Mississippi and Indiana) accounting for more than 98 percent of the U.S. crop, Grumpy Editor buys two containers of blueberries. Half way through munching them, tiny print (requiring a magnifying glass to read the label) reveals the tiny berries come from --- Lima, Peru.
Name of Rebel Yell, the University of Nevada, Las Vegas student newspaper since 1955, next semester will appear as the mouthful The Scarlet & Gray Free Press.
What triggered the change?
Complaints that the 61-year-old masthead reflected a Confederate Army battle cry.