Paradise Lost Financial

Episode 8: Market Insanity


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We are witnessing the biggest "reshuffling" of the DOW in almost 10 years:

Being Added:  

⦁ Salesforce (software/tech)

⦁ Amgen (biotech)

⦁ Honeywell (conglomerate that makes all sorts of products, you've probably seen them in retail stores like Target, WalMart, BestBuy)


Being removed from the DOW: 

⦁ Pfizer (pharmaceuticals)

⦁ Raytheon (military/industrial - US defense contractor)

⦁ Exxon (oil & energy) 

This is likely an indication that US commodity companies are in decline,  software & healthcare continue to gain some steam, at least in the eyes of investors


Also interesting to note that the DOW has trailed the other major indexes (S & P 500 and NASDAQ), but this "reshuffling" might allow it to catch up if these trends are to continue


Apple Market Cap $2 Trillion: https://www.nytimes.com/2020/08/19/technology/apple-2-trillion.html

Back in September, Apple's market cap was $1 trillion (has now doubled in size)



Stock market reaching all time highs (S & P 500 & NASDAQ): https://www.marketwatch.com/story/stock-index-futures-mostly-higher-dow-on-track-to-erase-2020-loss-2020-08-28



July's "official" unemployment data says unemployment rate is at 10.2%

https://www.statista.com/statistics/273909/seasonally-adjusted-monthly-unemployment-rate-in-the-us/


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Paradise Lost FinancialBy aColorfulCaucasian

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