STOCK MARKET WATCH -- Tuesday, 29 November 2022

[Tansy_Gold]

STOCK MARKET WATCH, Tuesday, 29 November 2022

Previous SMW:
SMW for 28 November 2022




AT THE CLOSING BELL ON 28 November 2022


Dow Jones 33,849.46 -497.57 (1.45%)
S&P 500 3,963.94 -62.18 (1.54%)
Nasdaq 11,049.50 -176.86 (1.58%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

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

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Quote for the Day:

When ALEC, the right-wing American Legislative Exchange Council, met in July 2017, it discussed two structural reforms to create a permanent Republican majority. The first was restoring the appointment of US Senators by state legislatures by repealing the Seventeenth Amendment. (After November 2016, the GOP held both chambers in thirty-two states, which, if such a repeal were law, would mean they would have sixty-four senators.) As far-fetched as that sounds, ALEC has been pushing red states to pass legislation calling for a federal Article Five constitutional convention, where such a proposal could be raised. So far, twenty-seven states out of the thirty-four states needed have passed resolutions for that convention.

A more likely near-term threat is gerrymandering the Electoral College. Republicans could do that by replacing the statewide winner-winner-take-all system with awarding delegates by House district. If that were law in Virginia, where a bill was introduced but did not pass in 2017, the state’s eleven Electoral College votes would not have gone to Clinton; Trump carried six of its House districts. Legislation to do that was proposed in a few states in early 2017, but did not go anywhere.

Too few people pay attention to these potential power grabs.

Steven Rosenfeld. Democracy Betrayed: How Superdelegates, Redistricting, Party Insiders, and the Electoral College Rigged the 2016 Election. Skyhorse Publishing/Hot Books. (c) 2018.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[progree]

1. An especially alarming quote this time, everyone should read

Last edited Mon Nov 28, 2022, 08:04 PM - Edit history (1)

And then there's Moore V. Harper, accepted by SCOTUS to be heard this session, that among other things would let state legislatures pick the president, regardless of how the majority of the state's voters voted. And a governor can't veto that.

S&P 500 closed down 1.5% today, is now down 17.4% from the Jan 3 all-time-high, and down 16.8% year-to-date.

[Tansy_Gold]

2. The last line quoted . . .

. . . was the one that caught my attention.

Too few people pay attention to these potential power grabs.

Moore v. Harper is catching some attention now, but the fact that the effort behind it has been going on for years is what makes it most alarming. And still too few people are paying attention.

It's all scary.

[DemReadingDU]

3. That is very alarming