Dow 30,000

NW-Bound said:
The P has regained to its prior value, but the E has yet to be updated to reflect the current economic condition.

I looked and found this chart showing things were going great, i.e. the E was climbing, until this horrible virus hit.

PS. OOPS! The chart is old. Lemme go find a more current one.

The following chart was published in Nov 2019, and it showed what the expectation was for 2020 before the pandemic.


saupload_forecasts-SP500-ttm-eps-201409-thru-202012.png
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Didn't know that about the E. Wonder what the true Cape 10 is.
 
MuirWannabe said:
Not even a W2R Wheee can slow this market down. Covid, riots, hurricanes, asteroids, space aliens first contact, sun ceasing to shine, black hole swallowing earth, taking the red pill and realizing we’re in the matrix, or discovering Sandra Bullock has a mad crush on me. Nothing. Literally nothing can seemingly stop this market.
Click to expand...

Wait a minute. That one might cause me to pause:D
 
MuirWannabe said:
Not even a W2R Wheee can slow this market down. Covid, riots, hurricanes, asteroids, space aliens first contact, sun ceasing to shine, black hole swallowing earth, taking the red pill and realizing we’re in the matrix, or discovering Sandra Bullock has a mad crush on me. Nothing. Literally nothing can seemingly stop this market.
Click to expand...
At least you are realistic and listed the possible events in the order of the likelihood of them happening... :LOL:
 
No chart found yet, but I saw on Yardeni.com the following info.

Actual S&P earnings for the entire year of 2019: $163.

Estimated S&P earnings for 2020: $120

Projected S&P earnings for 2021: $150

Projected S&P earnings for 2022: $170


PS. The drop of earnings from $163 to $120 is a loss of 26%. This jibes with a recent report that the US GDP shrunk by 1/3 due to COVID-19.
 
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Wow, Exxon Mobil, Pfizer, and Raytheon are being dropped from the Dow.... Not sure if that's good or bad for the Dow hitting 30k this year.
 
WOW! That was news to me. I see they added Amgen, Salesforce and Honeywell to join blue-chip index.
Those others out preformed the oil giant and tech seems to be the place that are having better numbers as the looks of it.
 
Looking at the reshuffling of the DOW, based on share price and not market cap makes the DOW meaningless. Now something like DOW 30,000 means nothing at all...might as well have the Fermion index (which, by the way, crossed 10,000 for the first time this week!
 
+1. The Dow Jones Industrial Average has zero utility for me but at least it gives the media something to fill air time with. “Today the Dow rose X (meaningless, since no one’s portfolio is the Dow) due to Y (there is no ‘why’ just millions of investors making unique decisions). It bugs me several times a day when they do that. Harrumph!
 
Fermion said:
Looking at the reshuffling of the DOW, based on share price and not market cap makes the DOW meaningless ...
Click to expand...
I don't know why you would suddenly conclude that. All indices are dynamic, with companies coming and going vs the index criteria and companies regularly getting merged or bankrupted out of existence. Probably the most dynamic point is the line between small-cap and mid-cap indices, with companies constantly moving across the line in both directions.

Probably no group of US index managers is more concerned with index continuity than the folks who manage the three Dow indices. The composition of DJI, which we're talking about here, has been constantly changing since its inception in 1896. (For the original list: https://www.investopedia.com/ask/an...w-jones-industrial-average-djia-companies.asp)

So the current events are nothing unusual and no reason to suddenly declare the DJI to be "meaningless." That doesn't say it wasn't "meaningless" for some people prior to today, but this change in composition really doesn't change anything.
 
Vinnyfrombrooklyn said:
I bet someone $100 that it would hit 30,000 by Sept 1st :(
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If it does, I'll be in 7th heaven! Today, once again, the sum of my portfolio and bank accounts is more than it has ever been before in my entire life, more than I ever dreamed possible. :D

BTW I am neither rich nor an investment guru. Just a conservative large index fund investor. But, my investments just keep plodding along, growing steadily week after week in this market, and I don't need to spend much to be happy now that I am retired.

I am SO GLAD that I bought my Dream Home back in 2015. I don't have to buy a whole lot else to be happy. My portfolio recovered from the expense of buying it and moving within about two years.
 
But how does it ever end? If the Fed can just generate a market like this whenever they want, why would they not just stimulate every year, even when not needed? Just send everyone a check each year for a few ten thousand and we will get to DOW 100,000 in a eye blink.
 
Fermion said:
But how does it ever end? If the Fed can just generate a market like this whenever they want, why would they not just stimulate every year, even when not needed? Just send everyone a check each year for a few ten thousand and we will get to DOW 100,000 in a eye blink.
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Who says it has to end? :) It simply does not have to end.

Perhaps we have discovered the gates to heaven, where everybody is a rich shareholder of stocks that just go up and up, and nobody has to work.

Hallelujah!
 
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SSSSSHHHHHH!!! Loose lips sink ships. I WANT those tens of millions of people going to work everyday, 24/7 in the 28,000 publicly-traded corporations all around the world that my index funds own shares or bonds in to support my hammock time! [emoji267]
 
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Yes, I want to see people working. Instead, I keep seeing headlines about corporations letting go of their workers: 18,000 workers from MGM, 3,000 pilots from United Airlines, 19,000 workers from American Airlines, etc... I tried to get total numbers of layoffs from large hotel chains, but have seen only regional numbers such as 6,000 hotel workers from Marriott in Arizona, 2,900 workers from Marriott in Nashville, etc... A few thousands here and there just from one employer, that soon adds up to 27 million currently receiving unemployment assistance for the entire US.

We need to print money faster to distribute to everybody so that they can still buy stocks while staying idle at home. Hopefully, some still have enough money to buy new EVs.

PS. Even Salesforce.com, a company I just learned about that is going to be added to the Dow 30 and who just released a wonderful quarterly report causing its share price to jump 25% in a day, just announced that they are firing 1000 workers.
 
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I think 30,000 is doable .. but hoping for 35,000 by January. And 50,000 next year.
 
30,000 is fine with me. I'll be happy as long as Dow doesn't dip down to 18,000s the way it did in March.
 
Blue531 said:
Am hoping the Dow Jones Industrial Average hits 30,000 by the end of 2020. The market has been going sideways for over a year and a half now. Can't wait to see it happen!
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I betting on it hitting 40k by the end of 2021 or 2022.
 
Not sure what the DOW # even means with its artificial & changing construct.
 
I want the Dow, and the market overall, to be the tortoise, not the hare. I would not be happy to see 40% in any year.
 
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