Previous SMW:
SMW for 17 May 2024



AT THE CLOSING BELL ON 17 May 2024


Dow Jones 40,003.59 +134.21 (0.34%)
S&P 500 5,303.27 +6.17 (0.12%)
Nasdaq 16,685.97 -12.35 (0.074%)

Market Conditions During Trading Hours:

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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:

As the losses piled up, though, some members of the team realized that certain assumptions that had driven them a decade before had been naïve. Back in the 1990s the team had all believed, with near-evangelical fervor, that innovation would create a more robust and efficient financial world. Credit derivatives and DCOs, they assumed, would disperse risk. Now it turned out that the risks had not been dispersed at all, but concentrated and concealed. It was a terrible, horrible irony.

Gillian Tett. Fool's Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe. Free Press. © 2009.