Previous SMW:
SMW for 1 May 2023




AT THE CLOSING BELL ON 1 May 2023


Dow Jones 34,051.70 -46.46 (0.14%)
S&P 500 4,167.87 -1.61 (0.039%)
Nasdaq 12,212.60 -13.99 (0.11%)

Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

Currencies:













Gold & Silver:






Petroleum:

DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

Quote for the Day:

The real reason for the reversal of the pendulum had to do with power. As income and wealth became concentrated in fewer hands, politics reverted to what Marriner Eccles described in the 1920s when people "with great economic power had an undue influence in making the rules of the economic game." With hefty campaign contributions, and platoons of lobbyists and public relations flacks, the rich helped push through legal changes that enabled them to accumulate even more income and wealth – including tacit permission to bust unions, slash corporate payrolls, and reduce benefits; lower taxes for themselves; and deregulate Wall Street. With so much of their wealth depending on the performance of the stock market, they especially wanted to free up the Street to put greater pressure on companies to perform – for example, by making it easier for investors to mount "leveraged buyouts," pay with high-risk (junk) bonds, pump up the profits by firing workers, and then dump the company back on the market at a higher price. The plan worked.

Robert B. Reich. After-Shock: The Next Economy and America's Future. Alfred A. Knopf. © 2010.