Posted on 12/23/2014 6:57:23 AM PST by Las Vegas Dave
U.S. stocks furthered record gains on Tuesday, with investor sentiment bolstered by the data that had the economy expanding in the third quarter by the most in 11 years.
"We've got strong seasonals, meaning this time of the year is bullish for the market; we've got stabilization in energy, with both Brent and WTI lifting a little bit this morning, as is natural gas, and spectacular economic data; GDP blew out expectations as did personal consumption," said Art Hogan, chief market strategist at Wunderlich Securities/
The U.S. economy soared by 5 percent in the third quarter, the most rapid pace since the same period of 2003.
A separate report had orders for durable goods unexpectedly dropping in November.
"People are certainly these days looking on the bright side of any data point," said Dan Greenhaus, chief strategist at BTIG.
But Greenhaus finds some of the enthusiasm following Tuesday's economic reports to be a bit misplaced: "The durable goods number is worrisome for the fourth quarter."
Walgreen rose in early New York trading after the drugstore chain reported quarterly earnings that topped estimates; Keurig Green Mountain fell as the coffee recalled 6.6 million of its Mini Plus coffee makers because of a possible burn hazard.
Be prepared; with oil at $55/barrel, we are in for a big stimulation of the economy. We owe a debt of gratitude to the oil industries in N.Dakota, Ok, and Tx. Thank God for private industry.
FYI..
Just goes to show you that Wall Street has been thoroughly infiltrated by soft-headed liberals who believe the numbers from the government as if they were the Gospel. Informed Tea Party voters know that the economy is NOT growing and NOT adding jobs.
Seriously, when the Gov. of NY took his state out of the running (Fracking), I thought, what an insult to the unemployed/underemployed of upstate NY! A travesty!
A new record high - how wonderful.
Why don’t we see these glowing reports every few days when food prices also reach new record highs?
Hate to say it, but I kinda want things to go downhill. The only way we beat the Hildebeast in ‘16 is if things are sputtering along.
Thank you.
It’s a mirage....it’ll drop to 16,000 by the end of march....
You’re falling for their propaganda. The economy is not good at all. $55/barrel is not going to fix it. Its a mirage, goose by phony statistics and money printing by fed
The market is living on low interest rates and tax money. It is fake and will probably go to 20,000 in a few years. Why not, it is just living and getting rich on our taxes.
I’ve been hearing this for 15 years; all the while my portfolio’s growing like hell.
Those dozens Bankers that committed suicide knew what’s coming and left early
Until low interest rates falls then the crash happens.
So today is the day i might get out of my 2 last individual stocks IBM and CSC any thoughts ? should i or should i not ?
I’m amazed at the number of people who actually think that numbers with a lot of zeros are more meaningful than numbers without them.
18,000 is no more significant than 17,999 or 18,001.
Furthermore, the number is not adjusted for inflation, so it is valueless.
Wow, the economy grew by a blazing 5%!!!!
By what empirical measure?
Where’s that pic of the that poor family eating dinner and discussing the Dow?
Scroll down about a quarter of the page to the commentary area. They have a section that tries to make sense of GDP results.
I don’t disagree with part of your post, but, cheap energy will drive the economy upward, in spite of the commies (ie criminals) running the DC empire.
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