Stock Market… this isn’t good IMO

[SlugSlinger]

Still going up.


View attachment 288627

No end in sight.

Another 75 basis point increase today. Raising rates during a recession, what a stupid idea. The FED has created the perfect storm.

 

[emapples]

smh

 

[jakeman]

Markets loved the rate increase.

Futures up as well.

You can’t out guess the markets.

 

[jakeman]

No end in sight.
View attachment 289911
Another 75 basis point increase today. Raising rates during a recession, what a stupid idea. The FED has created the perfect storm.

Ham fisted when nuance is needed. Typical Fed behavior. Not surprising.

We’ll see how it shakes out over the next month.

 

[garytx]

Currently paying 1.40% for ordinary savings

 

[dennishoddy]

Pretty good rate for a savings account! To get 1.05apy at CFCU you’ve got to lock your money into a 4 year CD.

I have a HYSA with Cap1 and Discover and saw Discover is paying 1.1% as of this morning.

What's crazy is that during Carters administration with record inflation and $4 gas with 55mph mandatory speed limits on interstates and 18% interest on home loans, the CD's were paying 10% or better. Savings accounts at banks were paying 12% and you got toasters, blankets, etc if you deposited xxx amount of dollars into your savings account.
I fear we are heading back in that direction.

 

[SlugSlinger]

If this came out Wednesday, the FED likely would have increased the rate a full point.

Inflation figure that the Fed follows closely hits highest level since January 1982​

PUBLISHED FRI, JUL 29 20228:36 AM EDT

The personal consumption expenditures price index rose 6.8% from a year ago in June, the Bureau of Economic Analysis reported Friday.
This is breaking news. Please check back here for updates.

 

[OKRuss]

Markets loved the rate increase.

Futures up as well.

You can’t out guess the markets.

I'm far and away not the best at understanding the market but if costs to borrow increased with the rate hike and another likely coming in 2 months, why did the market go up? Is it just the big 5 having good results driving it up? Did Pelosi's husband make another big purchase?

With a recession here or right around the corner, last thing I thought was the market starting to heat back up so soon. I think there'll be another downturn or at least hoping since I still have a fair amount of $ on the sidelines.

 

[Aries]

I'm far and away not the best at understanding the market but if costs to borrow increased with the rate hike and another likely coming in 2 months, why did the market go up? Is it just the big 5 having good results driving it up? Did Pelosi's husband make another big purchase?

With a recession here or right around the corner, last thing I thought was the market starting to heat back up so soon. I think there'll be another downturn or at least hoping since I still have a fair amount of $ on the sidelines.

Yeah, the market doesn't always do what everyone expects, and it's entirely possible it will go up for a couple or three days, then start dropping again. That COULD be for reasons besides the fed raising rates, it's possible that enough people just saw some bargains.

A financial advisor told me a few days ago that the market can handle positive news, and it can handle negative news. The one thing the market absolutely hates is uncertainty. The little uptick could simply be that raising rates caused a little less uncertainty.

In other words... I have no idea.

 

[SlugSlinger]

View attachment 290287

Currently paying 1.40% for ordinary savings

Just make sure that the cd can be adjusted up. I know some institutions let you bump the rate up.

The rates are expected to increase another 12 times over the next 2 years. If thence is locked, your stuck at a lower than market rate.