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Current Events > Stock futures are exploding. Dow up 5% (7:30est)

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whitelytning
11/09/20 7:29:38 AM
#1:


Woke up to a shock when I saw futures were killing it. Dow up 1500+ pts right now.

Two things, first Biden winning and second there is a Covid vaccine from pfizer that is supposedly 90% effective.

Remember when people were saying wall street hates Biden? Maybe not...

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#2
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SamusGlory
11/09/20 7:30:49 AM
#3:


im so excited and my portfolio has been down under 10 percent lol

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whitelytning
11/09/20 7:31:46 AM
#4:


Buy last week lol.

I picked up a few calls on Friday in clean energy and weed thinking it would get a little pump from a Biden announcement. Didn't think this kind of pump would happen.

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John_Galt
11/09/20 7:32:32 AM
#5:


Strap in, boys

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#6
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#7
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Solid Snake07
11/09/20 7:57:45 AM
#8:


Wallstreet likes that the senate wont be going blue more than they care about Biden tbh

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#9
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DJquackquack
11/09/20 8:07:13 AM
#10:


jeffhardyb0yz posted...
So buy buy buy? Hmm
You sell when stocks are up. You buy when theyre down.
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Cornhuskers
11/09/20 8:21:22 AM
#11:


Time to short the FANGs?
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Know someone who might vote for Biden but unsure?
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Jagr_68
11/09/20 8:23:58 AM
#12:


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SK8T3R215
11/09/20 8:53:25 AM
#13:


whitelytning posted...
Two things, first Biden winning and second there is a Covid vaccine from pfizer that is supposedly 90% effective.

Remember when people were saying wall street hates Biden?

Uh this is because of the vaccine.

It was up a lot last week because of the split government which stops Democrats from implementing most of their policies.

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Dat_Cracka_Jax
11/09/20 8:54:35 AM
#14:


SamusGlory posted...
im so excited and my portfolio has been down under 10 percent lol
Lol how?

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Dat_Cracka_Jax
11/09/20 8:55:07 AM
#15:


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#16
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The Trent
11/09/20 8:58:00 AM
#17:


Dat_Cracka_Jax posted...
Lol how?

seriously how

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AlCalavicci
11/09/20 8:59:15 AM
#18:


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The Trent
11/09/20 9:01:17 AM
#19:


found the answer to the "where money" question bros
just invest in march during a pandemic and watch money grow 50%

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davyheinz
11/09/20 9:06:52 AM
#20:


Biden fucking did it. What a madman!

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Tyranthraxus
11/09/20 9:09:24 AM
#21:


It's like a straight line lmao



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kingdrake2
11/09/20 9:09:39 AM
#22:


trump trying to claim credit on stock. the fucker tanked it several times.
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NightMarishPie
11/09/20 9:14:40 AM
#23:


what buy

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Solid Snake07
11/09/20 9:18:27 AM
#24:


Tyranthraxus posted...
It's like a straight line lmao



Lol......market is up over 4%

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BlueTigerLion
11/09/20 9:23:49 AM
#25:


Its not up because Biden won. Its up because they think Republicans will control the Senate which would mean Biden can't undo Trump tax stuff.

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CableZL
11/09/20 9:27:22 AM
#26:


BlueTigerLion posted...
Its not up because Biden won. Its up because they think Republicans will control the Senate which would mean Biden can't undo Trump tax stuff.

If the Trump tax stuff can't be undone, then our taxes are set to increase next year.

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John_Galt
11/09/20 9:27:25 AM
#27:


BlueTigerLion posted...
Its not up because Biden won. Its up because they think Republicans will control the Senate which would mean Biden can't undo Trump tax stuff.
Its all about the vaccine news this morning, dude

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Solid Snake07
11/09/20 9:28:14 AM
#28:


CableZL posted...
If the Trump tax stuff can't be undone, then our taxes are set to increase next year.


No they aren't

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CableZL
11/09/20 9:29:08 AM
#29:


Solid Snake07 posted...
No they aren't

Yes they are. There was a provision in Trump's tax cut bill that will make our taxes go up in 2021.

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CommonStar
11/09/20 9:29:56 AM
#30:


Wow, I'll be selling today. Gambled last week and bought a bunch of shares when it was down.
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Solid Snake07
11/09/20 9:33:03 AM
#31:


CableZL posted...
Yes they are. There was a provision in Trump's tax cut bill that will make our taxes go up in 2021.


No they won't. I don't know why I keep hearing this here. It's demonstrably false and public information that's easy to look up for yourself. Standard deductions will slightly increase and tax brackets are being raised. Rates are staying the same

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CableZL
11/09/20 9:35:46 AM
#32:


Solid Snake07 posted...
No they won't. I don't know why I keep hearing this here. It's demonstrably false and public information that's easy to look up for yourself. Standard deductions will slightly increasing and tax brackets are being raised. Rates are staying the same

https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017#By_income_level
  • During 2021, 2023, and 2025, income groups earning under $40,000 (about 43% of taxpayers) would contribute to deficit reduction, while income groups above $40,000 would contribute to deficit increases.
  • During 2027, income groups earning under $75,000 (about 76% of taxpayers) would contribute to deficit reduction, while income groups above $75,000 would contribute to deficit increases.[87][90]


"Contribute to deficit reduction" = pay more taxes

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twitterfriends
11/09/20 9:36:04 AM
#33:


Things are looking up. Give the first vaccines for the essential workers who been working this whole time

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Solid Snake07
11/09/20 9:40:00 AM
#34:


CableZL posted...
https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017#By_income_level
* During 2021, 2023, and 2025, income groups earning under $40,000 (about 43% of taxpayers) would contribute to deficit reduction, while income groups above $40,000 would contribute to deficit increases.
* During 2027, income groups earning under $75,000 (about 76% of taxpayers) would contribute to deficit reduction, while income groups above $75,000 would contribute to deficit increases.[87][90]

"Contributing to deficit reduction" = paying more taxes


No buddy, paying a higher tax rate means you're paying more in taxes. And unless you make more money in 2021 your rate isn't going up.

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CableZL
11/09/20 9:41:14 AM
#35:


Solid Snake07 posted...
No buddy, paying a higher tax rate means you're paying more in taxes. And unless you make more money in 2021 your rate isn't going up.

You seem to have trouble reading.

https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017#By_income_level

  • During 2019, income groups earning under $20,000 (about 23% of taxpayers) would contribute to deficit reduction (i.e., incur a cost), mainly by receiving fewer subsidies due to the repeal of the individual mandate of the Affordable Care Act. Other groups would contribute to deficit increases (i.e., receive a benefit), mainly due to tax cuts.
  • During 2021, 2023, and 2025, income groups earning under $40,000 (about 43% of taxpayers) would contribute to deficit reduction, while income groups above $40,000 would contribute to deficit increases.
  • During 2027, income groups earning under $75,000 (about 76% of taxpayers) would contribute to deficit reduction, while income groups above $75,000 would contribute to deficit increases.[87][90]


So yes, "contribute to deficit reduction" = paying more taxes. Conversely, "contribute to deficit increases" = paying less taxes.

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SK8T3R215
11/09/20 9:41:29 AM
#36:


Yeah this is the first site I found to show a easy-ish comparison of brackets between 2020 and 2021:

https://www.aarp.org/money/taxes/info-2020/income-tax-brackets.html

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CableZL
11/09/20 9:46:12 AM
#38:


Also, a lot of jobs typically give you more money in a following year due to annual raises, mine included. I'm also going to be making more money off of dividend income as the year goes on, so yeah, I'll be making more money in 2021 if everything goes according to plan.

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The Trent
11/09/20 9:47:43 AM
#39:


i like when i make more money and the government takes less money

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Solid Snake07
11/09/20 9:48:15 AM
#40:


CableZL posted...
You seem to have trouble reading.


I read just fine. The problem is you're writing nonsense. You're talking about distribution of tax revenues and framing that as "we're gonna be paying more in taxes". And you're wrong. The percentage that comes out of your paycheck is not going to increase unless you enter a higher bracket.

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Squall28
11/09/20 9:49:20 AM
#41:


I should've bought 2 weeks ago. Fuck!

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CableZL
11/09/20 9:49:51 AM
#42:


Solid Snake07 posted...
I read just fine. The problem is your writing nonsense. You're talking about distribution of tax revenues and framing that as "we're gonna be paying more in taxes". And you're wrong. The percentage that comes out of your paycheck is not going to increase unless you enter a higher bracket.

The text of the law Trump signed states higher costs for certain income levels, which means higher taxes. If the tax bracket comparison SK8T3R215 posted is correct, then I agree with you. However, I'm just going by what's in the text of the law.

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Solid Snake07
11/09/20 9:55:10 AM
#43:


CableZL posted...
The text of the law Trump signed states higher costs for certain income levels, which means higher taxes. If the tax bracket comparison SK8T3R215 posted is correct, then I agree with you. However, I'm just going by what's in the text of the law.


I'm just telling what you're saying is wrong.

What you're trying to say the collective tax burden is being slightly shifted from higher brackets to lower income earners. That does not mean your taxes are going up.

Your taxes as and individual filer are not going up, that's a lie

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CableZL
11/09/20 9:56:06 AM
#44:


Solid Snake07 posted...
I'm just telling what you're saying is wrong.

What you're trying to say the collective tax burden is being slightly shifted from higher brackets to lower income earners. That does not mean your taxes are going up.

Your taxes as and individual filer are not going up, that's a lie

I see. I agree that I am incorrect, in that case.

Edited because I don't think "relent" was the right word.

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creativerealms
11/09/20 10:14:21 AM
#45:


jeffhardyb0yz posted...
https://twitter.com/realdonaldtrump/status/1325778096151203843?s=21

TOO LATE BRAH. YOU LOST
He thinks this will help him win the election?

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The Trent
11/09/20 10:15:41 AM
#46:


CableZL posted...
I see. I agree that I am incorrect, in that case.

Edited because I don't think "relent" was the right word.

how do you feel about it now then?

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SquirtleSkwad
11/09/20 10:15:49 AM
#47:


SK8T3R215 posted...
It was up a lot last week because of the split government which stops Democrats from implementing most of their policies.
You really believe Republicans are the ones keeping D-day at bay by stonewalling democratic policies.

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CableZL
11/09/20 10:17:55 AM
#48:


The Trent posted...
how do you feel about it now then?

I still think the tax burden on lower incomes should be decreased by taxing higher income levels more. Our deficit skyrocketed in large part because of the tax bill Trump signed.

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The Trent
11/09/20 10:20:24 AM
#49:


CableZL posted...
I still think the tax burden on lower incomes should be decreased by taxing higher income levels more. Our deficit skyrocketed in large part because of the tax bill Trump signed.

so you'd personally like to pay more taxes to ease that burden on lower incomes?
this isn't judgment or leading to be clear just asking

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CableZL
11/09/20 10:21:24 AM
#50:


The Trent posted...
so you'd personally like to pay more taxes to ease that burden on lower incomes?
this isn't judgment or leading to be clear just asking

Yeah, if I'm paying more taxes, that still means I'm making more money than I would have otherwise. I wouldn't say that anyone likes paying taxes, but taxes are a necessary thing.

I'm not rich, but I'm doing pretty well for myself and can absorb a bigger tax bill more easily than someone with a lower income would.

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SK8T3R215
11/09/20 10:23:10 AM
#51:


SquirtleSkwad posted...
You really believe Republicans are the ones keeping D-day at bay by stonewalling democratic policies.

Uh that's literally why it was rallying last week, more moderate tax and regulation changes vs the expectation of a Democrat sweep. That's why the Nasdaq was up much more than the S&P and Dow last week...

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