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The Dow Reaches New High (12,116.91!!!)
Breitbart.com ^
| Oct 23
| JOE BEL BRUNO
Posted on 10/23/2006 12:59:18 PM PDT by Species8472
NEW YORK
Wall Street extended its October rally Monday as investors grew more optimistic about upcoming earnings reports, and a decline in oil bolstered hope for higher consumer spending. The Dow Jones industrials crossed 12,100 for the first time. Dow component Wal-Mart Stores Inc., which said it will cut capital spending to improve its profits, helped the blue chips to their new trading high.
Strength from International Business Machines Corp., Hasbro Inc., and Xerox Corp. also fed the advance. Just halfway through third-quarter earnings season, generally upbeat reports have instilled new confidence about the future in investors.
"The picture being painted is pretty easy to suggest that the pressure on the economy from higher oil prices is easing," said Richard E. Cripps, chief market strategist at Stifel Nicolaus. The price of oil, which fell to lows for the year Friday from its mid-July highs, is making investors more bullish on sectors like retail, which will benefit if consumers have more spending money.
Blue chips resumed a three-month rally after stalling Friday; the Dow, which had already risen 233 points in October before Monday's trading, surpassed 12,100 and reached a new trading high of 12,125.16, eclipsing the old mark of 12,049.51 set last week. Broader market indexes also gained as investors shrugged off concerns about the Federal Reserve's decision on interest rates later this week.
(Excerpt) Read more at breitbart.com ...
TOPICS: Breaking News; Business/Economy
KEYWORDS: djia; dow; economy; itstheeconomy; postelectioncrash; republicansuccess
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Democrats are deeply saddened and you can expect the MSM to cover this up!
To: Species8472
Women and minorities hardest hit!
To: Species8472
What's good for America is bad for the Dims.
3
posted on
10/23/2006 1:00:05 PM PDT
by
unkus
To: Species8472
4
posted on
10/23/2006 1:00:38 PM PDT
by
isthisnickcool
(The City Council of Houston Texas is made mostly of retards.)
To: Species8472
Market Fails to top 13,000 Yet again. More at 11
5
posted on
10/23/2006 1:01:15 PM PDT
by
spikeytx86
(Pray for Democrats for they have been brainwashed by there fruity little club.)
To: Species8472
Worst economy in 50 minutes!.............
6
posted on
10/23/2006 1:02:45 PM PDT
by
Red Badger
(CONGRESS NEEDS TO BE DE-FOLEY-ATED...............................)
To: Species8472
We're Dooooooooooooooooommmmmmed!
7
posted on
10/23/2006 1:02:55 PM PDT
by
neodad
(USS Vincennes (CG-49) Freedom's Fortress)
To: Species8472
!Rove, usted es un bastardo magnificado!
8
posted on
10/23/2006 1:03:29 PM PDT
by
Christian4Bush
("Ma'am, you don't have to thank us. You just go beat him for us." Soldier to Irey re: Murtha)
To: Species8472
Yeah, but that's only because it's election time.
(It's amazing how many people actually believe things like this.)
9
posted on
10/23/2006 1:03:57 PM PDT
by
SaveTheChief
(This is my "+3 tagline of smiting")
To: Red Badger
Worst economy in 50 minutes!............. LMBAO!!!!
10
posted on
10/23/2006 1:04:13 PM PDT
by
Christian4Bush
("Ma'am, you don't have to thank us. You just go beat him for us." Soldier to Irey re: Murtha)
To: Species8472
11
posted on
10/23/2006 1:04:14 PM PDT
by
golas1964
("He tasks me... He tasks me, and I shall have him!")
To: Species8472
Doooooooouuuuuuuuuuuuuuuuugggggggggggggghhhhhhhhhhhh!
12
posted on
10/23/2006 1:05:31 PM PDT
by
sappy
To: Species8472
That surprises me. I looked at the futures this am and they were in the crapper. What news changed things?
13
posted on
10/23/2006 1:08:54 PM PDT
by
.cnI redruM
(The most descriptive term for “Mullah” is “parasite”.)
To: .cnI redruM
Wal-Mart announced that they will slow down on growth/expansion. Apparently Wall Street likes that because it will improve profitability of Wal-Mart stock.
14
posted on
10/23/2006 1:10:57 PM PDT
by
golas1964
("He tasks me... He tasks me, and I shall have him!")
To: Species8472
15
posted on
10/23/2006 1:11:34 PM PDT
by
jveritas
(Support The Commander in Chief in Times of War)
To: .cnI redruM
Erm, the futures only indicate the open, not the whole day. And they weren't that much in the red this morning.
16
posted on
10/23/2006 1:11:40 PM PDT
by
farlander
(Strategery - sure beats liberalism!)
To: golas1964; Species8472; NormsRevenge; Grampa Dave; SierraWasp; blam; Marine_Uncle
To: Species8472
Herbert Hoover is getting ready for an incarnation......in the body of Tom Daschle!
18
posted on
10/23/2006 1:12:02 PM PDT
by
OldFriend
(CNN CELEBRATING THE DEATH OF OUR HEROES)
To: Gordongekko909
MSM Headline: "Women and children struggling with increasing amounts of cash in kitchen drawers caused by lower gas prices and rising stock market."
19
posted on
10/23/2006 1:12:04 PM PDT
by
defenderSD
(Blogging from a secure, undisclosed location in the southwestern United States.)
To: Species8472
Tom Daschle is concerned.
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